Nisa Investment Advisors LLC Buys 2,164 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Nisa Investment Advisors LLC raised its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 7.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in STX. Vanguard Group Inc. grew its position in Seagate Technology by 3.1% during the first quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock valued at $2,303,274,000 after buying an additional 746,395 shares during the period. Delta Global Management LP purchased a new stake in shares of Seagate Technology in the first quarter valued at $33,478,000. Point72 Hong Kong Ltd purchased a new stake in shares of Seagate Technology in the second quarter valued at $35,349,000. Clearbridge Investments LLC raised its stake in shares of Seagate Technology by 14.5% in the first quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock valued at $247,218,000 after acquiring an additional 337,464 shares during the period. Finally, Duquesne Family Office LLC grew its holdings in shares of Seagate Technology by 22.0% in the second quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock worth $181,268,000 after purchasing an additional 316,295 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

STX has been the topic of several recent research reports. The Goldman Sachs Group increased their target price on shares of Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Northland Securities lifted their price target on shares of Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Susquehanna boosted their price objective on shares of Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a report on Wednesday, July 24th. Finally, Loop Capital boosted their price target on shares of Seagate Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $118.83.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the transaction, the chief executive officer now owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO William D. Mosley sold 141,785 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was 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 directly owns 668,616 shares of the company’s stock, valued at $73,668,110.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total value of $1,869,200.00. Following the completion of the sale, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at $61,148,074.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 218,398 shares of company stock valued at $23,238,106 in the last three months. Insiders own 0.81% of the company’s stock.

Seagate Technology Stock Down 1.3 %

Shares of Seagate Technology stock opened at $99.11 on Friday. The firm has a market cap of $20.96 billion, a price-to-earnings ratio of 25.88 and a beta of 1.04. The business has a fifty day simple moving average of $104.91 and a 200-day simple moving average of $100.04. Seagate Technology Holdings plc has a fifty-two week low of $70.31 and a fifty-two week high of $115.32.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 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 the consensus estimate of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. Seagate Technology’s revenue was up 49.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.34) earnings per share. Analysts anticipate that Seagate Technology Holdings plc will post 7.35 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The company 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 $0.72 dividend. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 2.91%. The ex-dividend date is Friday, December 13th. Seagate Technology’s dividend payout ratio is presently 73.11%.

Seagate Technology 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.