Quantbot Technologies LP Takes $3.80 Million Position in Seagate Technology Holdings plc (NASDAQ:STX)

Quantbot Technologies LP acquired a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 34,689 shares of the data storage provider’s stock, valued at approximately $3,799,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lazard Asset Management LLC increased its position in shares of Seagate Technology by 6.9% in the 1st quarter. Lazard Asset Management LLC now owns 13,609 shares of the data storage provider’s stock valued at $1,266,000 after acquiring an additional 881 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Seagate Technology by 2.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock valued at $24,011,000 after acquiring an additional 6,044 shares during the period. B. Riley Wealth Advisors Inc. increased its position in shares of Seagate Technology by 3.9% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 19,340 shares of the data storage provider’s stock valued at $1,800,000 after acquiring an additional 725 shares during the period. California State Teachers Retirement System increased its position in shares of Seagate Technology by 5.7% in the 1st quarter. California State Teachers Retirement System now owns 291,919 shares of the data storage provider’s stock valued at $27,163,000 after acquiring an additional 15,847 shares during the period. Finally, Tidal Investments LLC grew its position in Seagate Technology by 24.5% during the 1st quarter. Tidal Investments LLC now owns 4,289 shares of the data storage provider’s stock worth $399,000 after purchasing an additional 844 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

STX has been the topic of several analyst reports. Wedbush reaffirmed an “outperform” rating and set a $150.00 price target on shares of Seagate Technology in a research report on Wednesday, October 23rd. StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Citigroup increased their price target on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. Finally, Evercore ISI raised their target price on Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.83.

Seagate Technology Stock Up 0.3 %

Shares of Seagate Technology stock opened at $101.66 on Wednesday. The firm has a market capitalization of $21.50 billion, a P/E ratio of 26.54 and a beta of 1.05. Seagate Technology Holdings plc has a 52 week low of $76.30 and a 52 week high of $115.32. The firm’s 50 day moving average is $104.69 and its two-hundred day moving average is $101.86.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.30 by $0.28. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The firm’s revenue was up 49.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.34) earnings per share. As a group, research analysts expect that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.83%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. Seagate Technology’s dividend payout ratio (DPR) is 73.11%.

Insider Activity at Seagate Technology

In other news, SVP John Christopher Morris sold 1,131 shares of Seagate Technology stock in a transaction 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 transaction, the senior vice president now owns 7,191 shares of the company’s stock, valued at $804,672.90. The trade was a 13.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Kian Fatt Chong sold 9,182 shares of Seagate Technology stock in a transaction on Friday, November 8th. The stock was 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. Insiders have sold a total of 201,820 shares of company stock worth $21,892,856 in the last three months. Insiders own 0.81% of the company’s stock.

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.