1,451 Shares in Seagate Technology Holdings PLC $STX Acquired by TSG Advice Partners LLC

TSG Advice Partners LLC purchased a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,451 shares of the data storage provider’s stock, valued at approximately $1,400,000.

Several other institutional investors and hedge funds have also bought and sold shares of STX. Wellington Management Group LLP increased its stake in shares of Seagate Technology by 2,655.9% during the second quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock valued at $2,329,641,000 after buying an additional 2,326,538 shares during the period. National Pension Service lifted its stake in Seagate Technology by 0.8% in the second quarter. National Pension Service now owns 834,705 shares of the data storage provider’s stock worth $805,490,000 after acquiring an additional 6,944 shares during the period. Janus Henderson Group PLC lifted its stake in Seagate Technology by 3,872.1% in the first quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock worth $378,985,000 after acquiring an additional 943,170 shares during the period. Amundi lifted its stake in Seagate Technology by 32.2% in the first quarter. Amundi now owns 965,565 shares of the data storage provider’s stock worth $378,267,000 after acquiring an additional 235,359 shares during the period. Finally, Swedbank AB boosted its holdings in Seagate Technology by 67.6% in the first quarter. Swedbank AB now owns 709,160 shares of the data storage provider’s stock valued at $277,821,000 after acquiring an additional 285,949 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on STX. Wall Street Zen raised shares of Seagate Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 26th. Citigroup decreased their price objective on shares of Seagate Technology from $1,300.00 to $1,050.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. Zacks Research cut shares of Seagate Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Susquehanna cut their target price on shares of Seagate Technology from $925.00 to $765.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 28th. Finally, Morgan Stanley cut their target price on shares of Seagate Technology from $1,200.00 to $1,148.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 28th. Twenty-three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,000.88.

Seagate Technology Stock Down 7.9%

Shares of NASDAQ:STX opened at $593.76 on Tuesday. The firm has a market capitalization of $135.02 billion, a P/E ratio of 35.54 and a beta of 2.06. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.17 and a current ratio of 1.82. The stock has a 50 day moving average price of $793.96 and a 200-day moving average price of $689.79. Seagate Technology Holdings PLC has a 52-week low of $228.61 and a 52-week high of $1,145.00.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share for the quarter, beating the consensus estimate of $7.44 by $0.24. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.15 billion. Seagate Technology had a return on equity of 252.47% and a net margin of 31.86%. The firm’s revenue was up 61.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.61 earnings per share. As a group, equities research analysts anticipate that Seagate Technology Holdings PLC will post 37.44 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Wednesday, December 23rd will be given a dividend of $0.76 per share. This is an increase from Seagate Technology’s previous quarterly dividend of $0.74. This represents a $3.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, December 23rd. Seagate Technology’s payout ratio is 15.55%.

Insider Transactions at Seagate Technology

In other news, EVP Ban Teh sold 52,730 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $782.08, for a total transaction of $41,239,078.40. Following the sale, the executive vice president owned 5,810 shares in the company, valued at approximately $4,543,884.80. The trade was a 90.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 49,984 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $772.16, for a total transaction of $38,595,645.44. Following the sale, the chief financial officer owned 70,756 shares in the company, valued at approximately $54,634,952.96. This trade represents a 41.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 436,644 shares of company stock worth $353,934,542. Corporate insiders own 0.51% of the company’s stock.

About Seagate Technology

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.