West Tower Group LLC Makes New $110,000 Investment in Seagate Technology Holdings plc (NASDAQ:STX)

West Tower Group LLC acquired a new position in Seagate Technology Holdings plc (NASDAQ:STX) during the third quarter, HoldingsChannel reports. The institutional investor acquired 1,000 shares of the data storage provider’s stock, valued at approximately $110,000.

A number of other large investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC increased its stake in Seagate Technology by 3.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock worth $281,000 after acquiring an additional 89 shares during the last quarter. CWM LLC boosted its holdings in shares of Seagate Technology by 3.0% in the 2nd quarter. CWM LLC now owns 3,307 shares of the data storage provider’s stock worth $342,000 after purchasing an additional 97 shares during the period. Affinity Capital Advisors LLC boosted its holdings in shares of Seagate Technology by 1.5% in the 3rd quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock worth $725,000 after purchasing an additional 100 shares during the period. Kingswood Wealth Advisors LLC boosted its holdings in shares of Seagate Technology by 3.7% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider’s stock worth $357,000 after purchasing an additional 122 shares during the period. Finally, Burney Co. boosted its holdings in shares of Seagate Technology by 3.3% in the 1st quarter. Burney Co. now owns 3,948 shares of the data storage provider’s stock worth $367,000 after purchasing an additional 125 shares during the period. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Trading Up 1.7 %

STX opened at $101.36 on Tuesday. The stock has a fifty day moving average price of $104.69 and a 200-day moving average price of $101.86. Seagate Technology Holdings plc has a 12 month low of $76.30 and a 12 month high of $115.32. The firm has a market cap of $21.44 billion, a price-to-earnings ratio of 26.46 and a beta of 1.05.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) 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 company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the company posted ($0.34) EPS. The firm’s quarterly revenue was up 49.1% compared to the same quarter last year. On average, equities research analysts forecast that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently announced 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. 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 2.84%. The ex-dividend date is Friday, December 13th. Seagate Technology’s dividend payout ratio is currently 73.11%.

Analyst Ratings Changes

A number of equities analysts have recently commented on STX shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $125.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd. Evercore ISI boosted their price objective on Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Rosenblatt Securities boosted their price objective on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating 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 boosted 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. Two 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $118.83.

Insider Activity at Seagate Technology

In other news, EVP Ban Seng Teh sold 4,872 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $110.00, for a total value of $535,920.00. Following the transaction, the executive vice president now directly owns 9,969 shares of the company’s stock, valued at approximately $1,096,590. This represents a 32.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the transaction, the director now directly owns 3,034 shares in the company, valued at $291,567.40. This represents a 19.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 201,820 shares of company stock valued at $21,892,856 in the last ninety days. Corporate insiders own 0.81% of the company’s stock.

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.