Seagate Technology Holdings plc (NASDAQ:STX) Shares Bought by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. increased its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 8,813.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 173,999 shares of the data storage provider’s stock after purchasing an additional 172,047 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Seagate Technology were worth $19,058,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of STX. HighTower Advisors LLC increased its holdings in shares of Seagate Technology by 23.5% during the 3rd quarter. HighTower Advisors LLC now owns 285,610 shares of the data storage provider’s stock valued at $31,270,000 after purchasing an additional 54,341 shares in the last quarter. Hilltop Holdings Inc. acquired a new position in shares of Seagate Technology during the 3rd quarter valued at about $228,000. Holocene Advisors LP boosted its position in shares of Seagate Technology by 13.1% during the 3rd quarter. Holocene Advisors LP now owns 439,779 shares of the data storage provider’s stock valued at $48,169,000 after acquiring an additional 50,777 shares during the last quarter. Chevy Chase Trust Holdings LLC boosted its position in shares of Seagate Technology by 5.6% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 112,594 shares of the data storage provider’s stock valued at $12,332,000 after acquiring an additional 5,974 shares during the last quarter. Finally, Concentric Capital Strategies LP acquired a new position in Seagate Technology in the third quarter valued at about $4,865,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the sale, the director now directly owns 6,555 shares in the company, valued at $667,430.10. The trade was a 10.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $102.83, for a total value of $2,056,600.00. Following the sale, the chief executive officer now owns 622,497 shares in the company, valued at $64,011,366.51. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 221,820 shares of company stock valued at $23,953,746. Corporate insiders own 0.81% of the company’s stock.

Seagate Technology Price Performance

STX opened at $97.63 on Thursday. The stock has a market capitalization of $20.65 billion, a price-to-earnings ratio of 25.49 and a beta of 1.03. Seagate Technology Holdings plc has a 12 month low of $76.87 and a 12 month high of $115.32. The business has a 50-day moving average of $104.10 and a two-hundred day moving average of $102.04.

Seagate Technology (NASDAQ:STX) last released 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 business 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%. The company’s revenue was up 49.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.34) EPS. Equities research analysts anticipate that Seagate Technology Holdings plc will post 7.18 earnings per share for the current year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 2.95%. Seagate Technology’s payout ratio is 75.20%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on STX. Evercore ISI upped their target price on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a research note on Wednesday, October 23rd. Citigroup increased their price objective on Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Rosenblatt Securities increased their price target on Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Northland Securities increased their price target on Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Seagate Technology currently has an average rating of “Moderate Buy” and a consensus price target of $118.83.

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.