44,413 Shares in Seagate Technology Holdings plc (NASDAQ:STX) Bought by Concentric Capital Strategies LP

Concentric Capital Strategies LP bought a new stake in Seagate Technology Holdings plc (NASDAQ:STX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 44,413 shares of the data storage provider’s stock, valued at approximately $4,865,000.

Other large investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Seagate Technology by 341.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider’s stock valued at $143,370,000 after purchasing an additional 1,012,638 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Seagate Technology in the second quarter valued at about $35,349,000. Duquesne Family Office LLC boosted its holdings in Seagate Technology by 22.0% in the second quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock worth $181,268,000 after acquiring an additional 316,295 shares in the last quarter. Mizuho Markets Americas LLC purchased a new stake in shares of Seagate Technology during the third quarter worth about $32,598,000. Finally, AQR Capital Management LLC increased its holdings in shares of Seagate Technology by 519.1% during the second quarter. AQR Capital Management LLC now owns 323,401 shares of the data storage provider’s stock valued at $33,398,000 after acquiring an additional 271,160 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Seagate Technology news, SVP John Christopher Morris sold 1,131 shares of the business’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 transaction of $126,558.90. Following the completion of the sale, the senior vice president now directly owns 7,191 shares in the company, valued at approximately $804,672.90. The trade was a 13.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kian Fatt Chong sold 9,182 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $105.50, for a total value of $968,701.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 201,820 shares of company stock worth $21,892,856. Company insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on STX shares. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Citigroup boosted 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. Rosenblatt Securities upped their target price on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $125.00 price target on shares of Seagate Technology in a research report on Wednesday, October 23rd. Finally, Wedbush reissued an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Seagate Technology has a consensus rating of “Moderate Buy” and an average target price of $118.83.

Seagate Technology Stock Performance

STX opened at $101.33 on Monday. The company has a fifty day moving average of $104.51 and a two-hundred day moving average of $102.01. The stock has a market capitalization of $21.43 billion, a price-to-earnings ratio of 26.46 and a beta of 1.05. Seagate Technology Holdings plc has a fifty-two week low of $76.87 and a fifty-two week high of $115.32.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results 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 during 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%. Seagate Technology’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.34) EPS. On average, equities research analysts forecast 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 paid 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 2.84%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio (DPR) is currently 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.