Hilltop Holdings Inc. Makes New Investment in Seagate Technology Holdings plc (NASDAQ:STX)

Hilltop Holdings Inc. bought a new stake in Seagate Technology Holdings plc (NASDAQ:STX) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,083 shares of the data storage provider’s stock, valued at approximately $228,000.

Several other large investors have also made changes to their positions in the company. Victory Capital Management Inc. raised its position in Seagate Technology by 133.8% in the 3rd quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock valued at $18,834,000 after purchasing an additional 98,418 shares during the last quarter. Versor Investments LP bought a new position in shares of Seagate Technology in the third quarter valued at about $2,146,000. Lighthouse Investment Partners LLC acquired a new position in Seagate Technology during the 2nd quarter worth about $499,000. Forte Capital LLC ADV grew its holdings in Seagate Technology by 29.8% during the 3rd quarter. Forte Capital LLC ADV now owns 28,972 shares of the data storage provider’s stock worth $3,173,000 after acquiring an additional 6,653 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Seagate Technology by 3,549.7% in the third quarter. International Assets Investment Management LLC now owns 204,493 shares of the data storage provider’s stock worth $22,398,000 after acquiring an additional 198,890 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

STX has been the topic of several research analyst reports. Rosenblatt Securities increased their price target on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating 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 research report on Wednesday, October 23rd. StockNews.com upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Evercore ISI raised their price target on Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Benchmark reissued a “hold” rating on shares of Seagate Technology 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $118.83.

Seagate Technology Trading Up 0.3 %

Shares of Seagate Technology stock opened at $98.51 on Friday. Seagate Technology Holdings plc has a 12 month low of $78.10 and a 12 month high of $115.32. The company has a market capitalization of $20.84 billion, a PE ratio of 25.72 and a beta of 1.03. The stock’s fifty day simple moving average is $103.64 and its 200 day simple moving average is $102.08.

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. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business posted ($0.34) EPS. Seagate Technology’s revenue for the quarter was up 49.1% on a year-over-year basis. Analysts predict that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The business 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 dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.92%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology’s dividend payout ratio (DPR) is presently 73.11%.

Insider Activity at Seagate Technology

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 transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the sale, the director now owns 6,555 shares in the company, valued at $667,430.10. This trade represents 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 221,820 shares of company stock valued at $23,953,746. 0.81% of the stock is owned by corporate insiders.

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.