Ascent Group LLC Has $1.26 Million Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Ascent Group LLC lessened its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 7.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,470 shares of the data storage provider’s stock after selling 902 shares during the period. Ascent Group LLC’s holdings in Seagate Technology were worth $1,256,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in STX. Tidal Investments LLC grew its position in Seagate Technology by 24.5% in the 1st quarter. Tidal Investments LLC now owns 4,289 shares of the data storage provider’s stock worth $399,000 after purchasing an additional 844 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Seagate Technology by 77.5% during the 1st quarter. Cetera Investment Advisers now owns 55,643 shares of the data storage provider’s stock valued at $5,178,000 after acquiring an additional 24,287 shares during the period. Cetera Advisors LLC grew its position in shares of Seagate Technology by 129.4% during the 1st quarter. Cetera Advisors LLC now owns 13,036 shares of the data storage provider’s stock valued at $1,213,000 after acquiring an additional 7,353 shares during the period. GAMMA Investing LLC grew its position in shares of Seagate Technology by 79.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,672 shares of the data storage provider’s stock valued at $173,000 after acquiring an additional 741 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Seagate Technology by 18.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 930 shares of the data storage provider’s stock valued at $96,000 after acquiring an additional 144 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on STX shares. Benchmark reissued a “hold” rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. Rosenblatt Securities increased their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Northland Securities upped their price target on shares of Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. 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 research note on Wednesday, October 23rd. Finally, Citigroup upped their price target on shares of Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $118.83.

Insider Activity

In related news, SVP John Christopher Morris sold 1,131 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total transaction of $126,558.90. Following the transaction, the senior vice president now owns 7,191 shares of the company’s stock, valued at approximately $804,672.90. This trade represents a 13.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William D. Mosley sold 141,785 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the transaction, the chief executive officer now directly owns 668,616 shares in the company, valued at approximately $73,668,110.88. This represents a 17.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 201,070 shares of company stock worth $21,820,781. 0.81% of the stock is currently owned by corporate insiders.

Seagate Technology Price Performance

NASDAQ STX opened at $98.80 on Wednesday. The company’s 50 day simple moving average is $104.30 and its two-hundred day simple moving average is $102.07. The stock has a market capitalization of $20.90 billion, a PE ratio of 25.80 and a beta of 1.03. Seagate Technology Holdings plc has a 1 year low of $76.87 and a 1 year high of $115.32.

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

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be given a dividend of $0.72 per share. The ex-dividend date is Friday, December 13th. This represents a $2.88 annualized dividend and a dividend yield of 2.91%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio (DPR) is 75.20%.

About Seagate Technology

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.