Commerce Bank Raises Position in Seagate Technology Holdings plc (NASDAQ:STX)

Commerce Bank lifted its position in Seagate Technology Holdings plc (NASDAQ:STX) by 6.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,070 shares of the data storage provider’s stock after buying an additional 245 shares during the period. Commerce Bank’s holdings in Seagate Technology were worth $446,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lazard Asset Management LLC increased its holdings in shares of Seagate Technology by 6.9% in the 1st quarter. Lazard Asset Management LLC now owns 13,609 shares of the data storage provider’s stock worth $1,266,000 after purchasing an additional 881 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Seagate Technology by 2.4% in 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 buying an additional 6,044 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in Seagate Technology by 3.9% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 19,340 shares of the data storage provider’s stock worth $1,800,000 after buying an additional 725 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Seagate Technology by 5.7% during the 1st quarter. California State Teachers Retirement System now owns 291,919 shares of the data storage provider’s stock valued at $27,163,000 after acquiring an additional 15,847 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in Seagate Technology by 24.5% in the first quarter. Tidal Investments LLC now owns 4,289 shares of the data storage provider’s stock worth $399,000 after purchasing an additional 844 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on STX shares. Evercore ISI upped their price objective on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Citigroup raised 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. StockNews.com upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. 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. Finally, Rosenblatt Securities boosted their price objective on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $118.83.

Insider Buying and Selling

In related news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 642,497 shares of the company’s stock, valued at approximately $63,947,726.41. This trade represents a 3.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kian Fatt Chong sold 9,182 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $105.50, for a total value of $968,701.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 201,820 shares of company stock valued at $21,892,856. Company insiders own 0.81% of the company’s stock.

Seagate Technology Trading Up 0.3 %

Shares of NASDAQ:STX opened at $101.66 on Wednesday. The company has a 50-day moving average price of $104.69 and a 200 day moving average price of $101.86. Seagate Technology Holdings plc has a 12 month low of $76.30 and a 12 month high of $115.32. The company has a market cap of $21.50 billion, a price-to-earnings ratio of 26.54 and a beta of 1.05.

Seagate Technology (NASDAQ:STX) last released its 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. The firm had revenue of $2.17 billion for 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%. The company’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.34) EPS. As a group, equities analysts forecast that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The company also recently announced 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. This represents a $2.88 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio (DPR) is 75.20%.

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.