Harvest Fund Management Co. Ltd Invests $53,000 in Seagate Technology Holdings plc (NASDAQ:STX)

Harvest Fund Management Co. Ltd purchased a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 483 shares of the data storage provider’s stock, valued at approximately $53,000.

Several other institutional investors have also modified their holdings of the company. Sequoia Financial Advisors LLC lifted its holdings in Seagate Technology by 3.6% in the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock worth $281,000 after purchasing an additional 89 shares during the period. CWM LLC lifted its holdings in Seagate Technology by 3.0% in the second quarter. CWM LLC now owns 3,307 shares of the data storage provider’s stock worth $342,000 after purchasing an additional 97 shares during the period. Affinity Capital Advisors LLC lifted its holdings in Seagate Technology by 1.5% in the third quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock worth $725,000 after purchasing an additional 100 shares during the period. Kingswood Wealth Advisors LLC lifted its holdings in Seagate Technology by 3.7% in the second quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider’s stock worth $357,000 after purchasing an additional 122 shares during the period. Finally, Burney Co. lifted its holdings in Seagate Technology by 3.3% in the first quarter. Burney Co. now owns 3,948 shares of the data storage provider’s stock worth $367,000 after purchasing an additional 125 shares during the period. Institutional investors own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on STX shares. Evercore ISI upped their price target on shares of Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Rosenblatt Securities upped their price target on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wedbush reissued an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. Benchmark reissued a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Finally, Citigroup boosted their price objective on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and an average target price of $118.83.

Seagate Technology Price Performance

Shares of STX opened at $100.00 on Thursday. The company has a market capitalization of $21.15 billion, a price-to-earnings ratio of 26.11 and a beta of 1.05. Seagate Technology Holdings plc has a fifty-two week low of $76.30 and a fifty-two week high of $115.32. The business’s 50-day moving average is $104.68 and its 200-day moving average is $101.91.

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

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a yield of 2.88%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio is currently 73.11%.

Insider Buying and Selling

In other Seagate Technology news, CEO William D. Mosley sold 141,785 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the completion of the sale, the chief executive officer now owns 668,616 shares of the company’s stock, valued at $73,668,110.88. This represents a 17.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Christopher Morris sold 1,131 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total value of $126,558.90. Following the sale, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at $804,672.90. The trade was a 13.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 201,820 shares of company stock worth $21,892,856. Insiders own 0.81% of the company’s stock.

Seagate Technology Company 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.