Nisa Investment Advisors LLC Grows Position in Seagate Technology Holdings plc (NASDAQ:STX)

Nisa Investment Advisors LLC raised its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 7.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,734 shares of the data storage provider’s stock after purchasing an additional 2,164 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Seagate Technology were worth $3,388,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. lifted its holdings in Seagate Technology by 68.7% during the first quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock valued at $1,634,000 after purchasing an additional 7,150 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Seagate Technology by 2.4% during the first 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 buying an additional 6,044 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Seagate Technology by 21.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 232,957 shares of the data storage provider’s stock valued at $21,677,000 after buying an additional 40,649 shares during the period. Illinois Municipal Retirement Fund increased its position in shares of Seagate Technology by 15.7% during the first quarter. Illinois Municipal Retirement Fund now owns 60,702 shares of the data storage provider’s stock valued at $5,648,000 after buying an additional 8,242 shares during the period. Finally, Lighthouse Investment Partners LLC bought a new stake in shares of Seagate Technology during the second quarter valued at about $499,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Trading Down 1.3 %

NASDAQ STX opened at $99.11 on Friday. The company has a market capitalization of $20.96 billion, a PE ratio of 25.88 and a beta of 1.04. Seagate Technology Holdings plc has a 1-year low of $70.31 and a 1-year high of $115.32. The firm’s fifty day simple moving average is $104.91 and its 200-day simple moving average is $100.04.

Seagate Technology (NASDAQ:STX) last posted its 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 firm 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 business’s quarterly revenue was up 49.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.34) earnings per share. As a group, analysts predict that Seagate Technology Holdings plc will post 7.35 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.91%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. Seagate Technology’s dividend payout ratio is presently 73.11%.

Insiders Place Their Bets

In other news, SVP John Christopher Morris sold 1,131 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total value of $126,558.90. Following the sale, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at approximately $804,672.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total value of $1,869,200.00. Following the sale, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John Christopher Morris sold 1,131 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total value of $126,558.90. Following the completion of the sale, the senior vice president now directly owns 7,191 shares in the company, valued at approximately $804,672.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,398 shares of company stock valued at $23,238,106 over the last three months. 0.81% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on STX. The Goldman Sachs Group upped their price target on Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Morgan Stanley upped their price objective on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Barclays upped their price objective on shares of Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Wedbush restated an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a research report on Wednesday, October 23rd. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $125.00 price objective on shares of Seagate Technology in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.83.

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.