Glenmede Trust Co. NA Acquires 384 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Glenmede Trust Co. NA lifted its position in Seagate Technology Holdings plc (NASDAQ:STX) by 9.4% during the 3rd quarter, Holdings Channel reports. The firm owned 4,450 shares of the data storage provider’s stock after buying an additional 384 shares during the quarter. Glenmede Trust Co. NA’s holdings in Seagate Technology were worth $487,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in STX. Victory Capital Management Inc. grew its holdings in shares of Seagate Technology by 133.8% during the third quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock worth $18,834,000 after purchasing an additional 98,418 shares during the last quarter. Versor Investments LP bought a new stake in shares of Seagate Technology during the third quarter worth $2,146,000. Lighthouse Investment Partners LLC bought a new stake in shares of Seagate Technology during the second quarter worth $499,000. Forte Capital LLC ADV grew its holdings in shares of Seagate Technology by 29.8% during the third quarter. Forte Capital LLC ADV now owns 28,972 shares of the data storage provider’s stock worth $3,173,000 after purchasing an additional 6,653 shares during the last quarter. Finally, Cetera Advisors LLC grew its holdings in shares of Seagate Technology by 129.4% during the first quarter. Cetera Advisors LLC now owns 13,036 shares of the data storage provider’s stock worth $1,213,000 after purchasing an additional 7,353 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on STX. Citigroup increased their price objective on Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Rosenblatt Securities lifted their price target on shares of Seagate Technology from $125.00 to $140.00 and gave the company 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. Northland Securities upped their target price on Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Benchmark reiterated a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. 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. According to MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average price target of $118.83.

Insider Activity at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $102.83, for a total transaction of $2,056,600.00. Following the transaction, the chief executive officer now owns 622,497 shares in the company, valued at $64,011,366.51. This trade represents a 3.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ban Seng Teh sold 4,872 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total value of $535,920.00. Following the sale, the executive vice president now owns 9,969 shares of the company’s stock, valued at approximately $1,096,590. The trade was a 32.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 221,820 shares of company stock worth $23,953,746. Corporate insiders own 0.81% of the company’s stock.

Seagate Technology Price Performance

Shares of STX opened at $97.63 on Thursday. The firm has a market capitalization of $20.65 billion, a PE ratio of 25.49 and a beta of 1.03. The company’s 50-day moving average is $104.10 and its 200-day moving average is $102.04. Seagate Technology Holdings plc has a fifty-two week low of $76.87 and a fifty-two week high of $115.32.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data 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 company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The company’s revenue was up 49.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.34) earnings per share. Analysts predict 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 announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be issued a dividend of $0.72 per share. The ex-dividend date is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.95%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio (DPR) is currently 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.