Mutual of America Capital Management LLC Raises Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Mutual of America Capital Management LLC grew its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,853 shares of the data storage provider’s stock after acquiring an additional 1,227 shares during the period. Mutual of America Capital Management LLC’s holdings in Seagate Technology were worth $2,832,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in STX. Natixis Advisors LLC boosted its position in shares of Seagate Technology by 6.2% during the third quarter. Natixis Advisors LLC now owns 70,117 shares of the data storage provider’s stock worth $7,680,000 after acquiring an additional 4,094 shares during the last quarter. Mizuho Markets Americas LLC bought a new position in shares of Seagate Technology during the 3rd quarter valued at about $32,598,000. Empowered Funds LLC grew its position in shares of Seagate Technology by 6.8% during the third quarter. Empowered Funds LLC now owns 3,274 shares of the data storage provider’s stock valued at $359,000 after purchasing an additional 209 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Seagate Technology by 14.4% in the third quarter. CIBC Asset Management Inc now owns 30,578 shares of the data storage provider’s stock worth $3,349,000 after purchasing an additional 3,848 shares during the last quarter. Finally, ING Groep NV lifted its position in shares of Seagate Technology by 10.0% in the third quarter. ING Groep NV now owns 19,785 shares of the data storage provider’s stock worth $2,167,000 after buying an additional 1,805 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Insider Activity

In other news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the transaction, the director now directly owns 3,034 shares in the company, valued at approximately $291,567.40. This trade represents a 19.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ban Seng Teh sold 4,872 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $110.00, for a total transaction of $535,920.00. Following the completion of the transaction, the executive vice president now directly owns 9,969 shares of the company’s stock, valued at $1,096,590. This trade represents a 32.83 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 201,820 shares of company stock worth $21,892,856. Company insiders own 0.81% of the company’s stock.

Seagate Technology Price Performance

Shares of STX opened at $99.62 on Friday. The firm has a market capitalization of $21.07 billion, a price-to-earnings ratio of 26.01 and a beta of 1.05. Seagate Technology Holdings plc has a 1-year low of $75.64 and a 1-year high of $115.32. The company has a 50-day moving average of $104.69 and a 200 day moving average of $101.62.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. The company’s revenue was up 49.1% on a year-over-year basis. On average, equities analysts anticipate that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be given a dividend of $0.72 per share. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.89%. Seagate Technology’s dividend payout ratio is presently 73.11%.

Analyst Ratings Changes

A number of analysts have issued reports on STX shares. Citigroup lifted their price objective on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Northland Securities upped 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. Wedbush reissued an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. 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 report on Wednesday, October 23rd. Finally, Rosenblatt Securities lifted their price target on Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $118.83.

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.