Eurizon Capital SGR S.p.A. lifted its stake in Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) by 7.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,385 shares of the data storage provider’s stock after buying an additional 4,204 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Seagate Technology were worth $55,654,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Werba Rubin Papier Wealth Management increased its stake in Seagate Technology by 92.1% in the 3rd quarter. Werba Rubin Papier Wealth Management now owns 463 shares of the data storage provider’s stock worth $427,000 after buying an additional 222 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. lifted its position in shares of Seagate Technology by 6.5% in the third quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 442 shares of the data storage provider’s stock valued at $408,000 after acquiring an additional 27 shares in the last quarter. Artemis Wealth Advisors LLC purchased a new position in shares of Seagate Technology in the third quarter worth $2,767,000. FDx Advisors Inc. lifted its stake in Seagate Technology by 5.7% in the 3rd quarter. FDx Advisors Inc. now owns 1,945 shares of the data storage provider’s stock worth $1,794,000 after purchasing an additional 105 shares in the last quarter. Finally, UNIVEST FINANCIAL Corp lifted its stake in Seagate Technology by 305.8% in the 3rd quarter. UNIVEST FINANCIAL Corp now owns 1,396 shares of the data storage provider’s stock worth $1,288,000 after purchasing an additional 1,052 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.
Seagate Technology Trading Down 3.1%
Shares of STX opened at $528.29 on Friday. Seagate Technology Holdings PLC has a twelve month low of $228.61 and a twelve month high of $1,145.00. The company has a market cap of $121.27 billion, a P/E ratio of 27.75 and a beta of 2.16. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $740.61 and its 200-day simple moving average is $698.15.
Seagate Technology (NASDAQ:STX – Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The data storage provider reported $7.68 EPS for the quarter, topping analysts’ consensus estimates of $7.44 by $0.24. Seagate Technology had a net margin of 31.86% and a return on equity of 252.47%. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the company earned $2.61 EPS. The firm’s revenue for the quarter was up 61.0% compared to the same quarter last year. As a group, analysts expect that Seagate Technology Holdings PLC will post 37.96 EPS for the current year.
Seagate Technology Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 23rd will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, December 23rd. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.74. Seagate Technology’s dividend payout ratio (DPR) is 15.97%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on STX. Zacks Research lowered Seagate Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Weiss Ratings lowered Seagate Technology from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, November 2nd. Wedbush restated an “outperform” rating and set a $1,000.00 price target on shares of Seagate Technology in a report on Wednesday, October 28th. Citigroup cut their target price 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. Finally, Susquehanna decreased their price target 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. Twenty-three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,000.88.
View Our Latest Research Report on STX
Insider Activity at Seagate Technology
In related news, CFO Gianluca Romano sold 49,984 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $772.16, for a total value of $38,595,645.44. Following the completion of the sale, the chief financial officer owned 70,756 shares in the company, valued at approximately $54,634,952.96. The trade was a 41.40% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP John Morris sold 15,466 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $772.15, for a total value of $11,942,071.90. Following the completion of the transaction, the executive vice president directly owned 31,132 shares in the company, valued at approximately $24,038,573.80. This trade represents a 33.19% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 439,747 shares of company stock valued at $349,271,735. 0.51% of the stock is owned by insiders.
Seagate Technology Company Profile
Seagate Technology develops and supplies data-storage products and solutions for businesses and consumers. Its portfolio includes hard disk drives (HDDs), solid-state drives, and storage systems designed for applications ranging from personal computing to large-scale data centers. The company’s products support cloud and enterprise storage, network-attached storage, video surveillance, gaming, and other uses that require digital data to be stored and accessed. Seagate also offers data-management and storage services through its Lyve platform.
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