Quantinno Capital Management LP Purchases 6,249 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Quantinno Capital Management LP increased its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 36.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,188 shares of the data storage provider’s stock after acquiring an additional 6,249 shares during the quarter. Quantinno Capital Management LP’s holdings in Seagate Technology were worth $2,540,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of STX. Ashton Thomas Securities LLC bought a new position in Seagate Technology in the third quarter valued at approximately $26,000. Quarry LP acquired a new stake in shares of Seagate Technology in the second quarter valued at approximately $27,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Seagate Technology by 2,407.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 337 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of Seagate Technology in the second quarter valued at approximately $41,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of Seagate Technology by 177.9% in the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after purchasing an additional 258 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

STX has been the topic of a number of recent analyst reports. Rosenblatt Securities boosted their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wedbush restated an “outperform” rating and set a $150.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $125.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd. Benchmark restated a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Finally, Citigroup upped their price objective on shares of Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $118.83.

Insiders Place Their Bets

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

Seagate Technology Stock Performance

STX stock opened at $97.59 on Wednesday. The company’s 50-day simple moving average is $103.23 and its 200 day simple moving average is $102.19. Seagate Technology Holdings plc has a 52 week low of $79.39 and a 52 week high of $115.32. The company has a market capitalization of $20.64 billion, a PE ratio of 25.48 and a beta of 1.03.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 49.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.34) earnings per share. On average, analysts forecast that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.95%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. Seagate Technology’s dividend payout ratio is presently 73.11%.

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.