Contravisory Investment Management Inc. Acquires 192 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Contravisory Investment Management Inc. raised its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 2.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 7,720 shares of the data storage provider’s stock after purchasing an additional 192 shares during the period. Contravisory Investment Management Inc.’s holdings in Seagate Technology were worth $666,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Brown Brothers Harriman & Co. boosted its holdings in Seagate Technology by 200.2% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 3,326 shares of the data storage provider’s stock worth $343,000 after buying an additional 2,218 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Seagate Technology by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,019,657 shares of the data storage provider’s stock worth $105,306,000 after purchasing an additional 9,062 shares in the last quarter. Renaissance Technologies LLC bought a new position in Seagate Technology in the 2nd quarter worth approximately $12,485,000. Primecap Management Co. CA grew its holdings in Seagate Technology by 6.5% during the 2nd quarter. Primecap Management Co. CA now owns 582,295 shares of the data storage provider’s stock valued at $60,134,000 after buying an additional 35,545 shares in the last quarter. Finally, E Fund Management Co. Ltd. bought a new stake in shares of Seagate Technology during the second quarter valued at approximately $233,000. Institutional investors own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $125.00 target price on shares of Seagate Technology in a research note on Wednesday, October 23rd. StockNews.com lowered Seagate Technology from a “buy” rating to a “hold” rating in a research report on Tuesday. Mizuho decreased their target price on Seagate Technology from $130.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Wedbush restated an “outperform” rating and set a $150.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group cut their target price on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average target price of $121.53.

Insider Activity

In other news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total value of $76,365.00. Following the sale, the director now directly owns 6,555 shares of the company’s stock, valued at $667,430.10. The trade was a 10.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $102.83, for a total value of $2,056,600.00. Following the completion of the sale, the chief executive officer now directly owns 622,497 shares of the company’s stock, valued at $64,011,366.51. This trade represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,304 shares of company stock worth $5,656,238 in the last ninety days. Company insiders own 0.81% of the company’s stock.

Seagate Technology Stock Performance

NASDAQ STX opened at $94.34 on Thursday. The company has a market cap of $19.96 billion, a PE ratio of 24.63 and a beta of 1.06. Seagate Technology Holdings plc has a 52-week low of $82.31 and a 52-week high of $115.32. The firm’s 50 day moving average price is $94.75 and its 200-day moving average price is $100.40.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The firm’s revenue was up 49.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.34) EPS. On average, analysts forecast 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 was paid on Monday, January 6th. Shareholders of record on Sunday, December 15th were given a $0.72 dividend. The ex-dividend date was Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.05%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio is 75.20%.

About Seagate Technology

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.