Commerzbank Aktiengesellschaft FI Makes New Investment in Seagate Technology Holdings plc (NASDAQ:STX)

Commerzbank Aktiengesellschaft FI acquired a new position in Seagate Technology Holdings plc (NASDAQ:STX) during the third quarter, Holdings Channel.com reports. The firm acquired 2,060 shares of the data storage provider’s stock, valued at approximately $226,000.

A number of other institutional investors have also recently added to or reduced their stakes in STX. Park Avenue Securities LLC lifted its holdings in Seagate Technology by 7.1% in the 1st quarter. Park Avenue Securities LLC now owns 5,590 shares of the data storage provider’s stock worth $520,000 after buying an additional 371 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in Seagate Technology by 269.1% in the 1st quarter. Sunbelt Securities Inc. now owns 753 shares of the data storage provider’s stock worth $70,000 after buying an additional 549 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Seagate Technology by 20.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,105 shares of the data storage provider’s stock worth $1,219,000 after buying an additional 2,217 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Seagate Technology by 40.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 11,708 shares of the data storage provider’s stock worth $1,089,000 after buying an additional 3,386 shares in the last quarter. Finally, Vicus Capital acquired a new position in Seagate Technology in the 1st quarter worth $254,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on STX shares. Wedbush restated an “outperform” rating and issued a $150.00 target price on shares of Seagate Technology in a research note on Wednesday. Evercore ISI upped their target price on shares of Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday. Northland Securities upped their target price on shares of Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday. Rosenblatt Securities upped their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Robert W. Baird upped their target price on shares of Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Seagate Technology presently has an average rating of “Hold” and a consensus target price of $118.83.

Insider Activity

In other news, SVP John Christopher Morris sold 1,131 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 7,191 shares in the company, valued at $804,672.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Ban Seng Teh sold 4,872 shares of the firm’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 transaction of $535,920.00. Following the completion of the sale, the executive vice president now directly owns 9,969 shares in the company, valued at approximately $1,096,590. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP John Christopher Morris sold 1,131 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now owns 7,191 shares of the company’s stock, valued at $804,672.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 218,398 shares of company stock worth $23,238,106 over the last three months. Corporate insiders own 0.89% of the company’s stock.

Seagate Technology Trading Up 0.4 %

NASDAQ STX opened at $103.98 on Friday. Seagate Technology Holdings plc has a 52 week low of $64.12 and a 52 week high of $115.32. The stock has a market cap of $21.83 billion, a price-to-earnings ratio of -80.60 and a beta of 1.04. The company has a 50-day moving average price of $105.13 and a two-hundred day moving average price of $99.58.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.28. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 30.18%. The business’s revenue was up 49.1% on a year-over-year basis. During the same period last year, the firm posted ($0.34) earnings per share. As a group, equities research analysts expect that Seagate Technology Holdings plc will post 7.09 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be issued a $0.72 dividend. The ex-dividend date of this dividend 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 dividend yield of 2.77%. Seagate Technology’s dividend payout ratio (DPR) is -217.05%.

Seagate Technology Company 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.