Brooklyn Investment Group Acquires New Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Brooklyn Investment Group bought a new stake in Seagate Technology Holdings plc (NASDAQ:STX) during the third quarter, HoldingsChannel.com reports. The fund bought 510 shares of the data storage provider’s stock, valued at approximately $56,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STX. Victory Capital Management Inc. lifted its holdings in shares of Seagate Technology by 133.8% during the 3rd quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock worth $18,834,000 after acquiring an additional 98,418 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Seagate Technology by 2.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock worth $24,011,000 after acquiring an additional 6,044 shares during the period. Versor Investments LP purchased a new position in shares of Seagate Technology during the 3rd quarter worth about $2,146,000. Lighthouse Investment Partners LLC purchased a new position in shares of Seagate Technology during the 2nd quarter worth about $499,000. Finally, Forte Capital LLC ADV lifted its holdings in shares of Seagate Technology by 29.8% during the 3rd quarter. Forte Capital LLC ADV now owns 28,972 shares of the data storage provider’s stock worth $3,173,000 after acquiring an additional 6,653 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 668,616 shares in the company, valued at $73,668,110.88. The trade was a 17.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kian Fatt Chong sold 9,182 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $105.50, for a total transaction of $968,701.00. The disclosure for this sale can be found here. Insiders sold a total of 201,820 shares of company stock worth $21,892,856 over the last 90 days. Insiders own 0.81% of the company’s stock.

Analyst Ratings Changes

STX has been the topic of several research reports. Evercore ISI raised their price target on shares of Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $125.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. Benchmark restated a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Rosenblatt Securities raised their price target on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Wedbush restated an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. Two investment 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $118.83.

Seagate Technology Trading Up 1.3 %

STX stock opened at $101.33 on Friday. Seagate Technology Holdings plc has a twelve month low of $76.87 and a twelve month high of $115.32. The company has a market capitalization of $21.43 billion, a P/E ratio of 26.46 and a beta of 1.05. The firm has a 50 day simple moving average of $104.51 and a 200-day simple moving average of $101.94.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the company earned ($0.34) earnings per share. The business’s quarterly revenue was up 49.1% compared to the same quarter last year. On average, research analysts predict that Seagate Technology Holdings plc will post 7.18 EPS for the current 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 paid a dividend of $0.72 per share. The ex-dividend date is Friday, December 13th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 2.84%. Seagate Technology’s dividend payout ratio (DPR) is 73.11%.

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.