World Investment Advisors LLC Invests $217,000 in Seagate Technology Holdings plc (NASDAQ:STX)

World Investment Advisors LLC bought a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,983 shares of the data storage provider’s stock, valued at approximately $217,000.

Several other hedge funds also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Seagate Technology in the third quarter worth $26,000. Quarry LP bought a new stake in Seagate Technology in the 2nd quarter valued at $27,000. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Seagate Technology by 2,407.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after acquiring an additional 337 shares during the last quarter. Family Firm Inc. purchased a new stake in Seagate Technology in the 2nd quarter worth $41,000. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Seagate Technology by 177.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after purchasing an additional 258 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling

In other news, EVP Ban Seng Teh sold 4,872 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total value of $535,920.00. Following the completion of the sale, the executive vice president now owns 9,969 shares of the company’s stock, valued at approximately $1,096,590. This represents a 32.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William D. Mosley sold 141,785 shares of Seagate Technology stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the transaction, the chief executive officer now directly owns 668,616 shares in the company, valued at approximately $73,668,110.88. The trade was a 17.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 221,961 shares of company stock valued at $23,967,629 over the last quarter. 0.81% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

STX has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $125.00 target price on shares of Seagate Technology in a research report on Wednesday, October 23rd. Rosenblatt Securities upped their price objective on Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and set a $150.00 target price on shares of Seagate Technology in a research report on Wednesday, October 23rd. Evercore ISI boosted their price target on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

Seagate Technology Stock Down 4.4 %

STX stock opened at $87.54 on Friday. Seagate Technology Holdings plc has a twelve month low of $79.39 and a twelve month high of $115.32. The firm has a market cap of $18.52 billion, a price-to-earnings ratio of 22.86 and a beta of 1.03. The business’s fifty day simple moving average is $101.31 and its two-hundred day simple moving average is $102.09.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.30 by $0.28. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.34) EPS. Research analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be issued a $0.72 dividend. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.29%. Seagate Technology’s payout ratio is presently 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.