CCM Investment Advisers LLC Boosts Position in Seagate Technology Holdings plc (NASDAQ:STX)

CCM Investment Advisers LLC boosted its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 2.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 145,304 shares of the data storage provider’s stock after purchasing an additional 3,952 shares during the quarter. CCM Investment Advisers LLC’s holdings in Seagate Technology were worth $12,541,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its holdings in shares of Seagate Technology by 3.6% in the second quarter. Victory Capital Management Inc. now owns 73,534 shares of the data storage provider’s stock valued at $7,594,000 after acquiring an additional 2,570 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Seagate Technology by 24,870.8% during the second quarter. Acadian Asset Management LLC now owns 17,979 shares of the data storage provider’s stock worth $1,853,000 after buying an additional 17,907 shares during the period. Ballentine Partners LLC grew its holdings in shares of Seagate Technology by 6.8% during the second quarter. Ballentine Partners LLC now owns 3,542 shares of the data storage provider’s stock worth $366,000 after buying an additional 227 shares during the last quarter. Choreo LLC increased its position in Seagate Technology by 15.5% in the 2nd quarter. Choreo LLC now owns 7,342 shares of the data storage provider’s stock valued at $752,000 after acquiring an additional 985 shares during the period. Finally, Royal London Asset Management Ltd. raised its stake in Seagate Technology by 0.8% during the 2nd quarter. Royal London Asset Management Ltd. now owns 78,252 shares of the data storage provider’s stock valued at $8,081,000 after acquiring an additional 623 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on STX shares. Rosenblatt Securities lifted their target price on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $125.00 price objective on shares of Seagate Technology in a research report on Wednesday, October 23rd. StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Benchmark reissued a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Finally, Citigroup boosted their target price on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $118.39.

Seagate Technology Price Performance

STX traded down $1.37 during midday trading on Friday, reaching $87.32. 746,814 shares of the company’s stock were exchanged, compared to its average volume of 2,191,064. The business’s 50-day moving average price is $95.55 and its 200 day moving average price is $100.77. The stock has a market capitalization of $18.47 billion, a PE ratio of 22.80 and a beta of 1.06. Seagate Technology Holdings plc has a 1-year low of $79.39 and a 1-year high of $115.32.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. Seagate Technology’s revenue was up 49.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.34) EPS. As a group, analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Sunday, December 15th were paid a $0.72 dividend. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, December 13th. This represents a $2.88 annualized dividend and a yield of 3.30%. Seagate Technology’s payout ratio is presently 75.20%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, SVP John Christopher Morris sold 1,131 shares of Seagate Technology stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total value of $126,558.90. Following the completion of the sale, the senior vice president now owns 7,191 shares in the company, valued at $804,672.90. The trade was a 13.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the transaction, the director now owns 6,555 shares in the company, valued at approximately $667,430.10. The trade was a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,304 shares of company stock worth $5,656,238. Corporate insiders own 0.81% of the company’s stock.

Seagate Technology Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.