GAMMA Investing LLC Has $241,000 Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

GAMMA Investing LLC lessened its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,790 shares of the data storage provider’s stock after selling 138 shares during the quarter. GAMMA Investing LLC’s holdings in Seagate Technology were worth $241,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in shares of Seagate Technology during the 3rd quarter worth approximately $26,000. Quarry LP acquired a new position in shares of Seagate Technology in the second quarter valued at $27,000. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Seagate Technology by 2,407.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 337 shares during the period. Advisors Asset Management Inc. raised its position in shares of Seagate Technology by 177.9% in the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after purchasing an additional 258 shares during the period. Finally, JFS Wealth Advisors LLC boosted its holdings in shares of Seagate Technology by 232.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after buying an additional 293 shares during the period. 92.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on STX. Wedbush reissued an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. Cantor Fitzgerald reissued a “neutral” rating and set a $125.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. Rosenblatt Securities upped their price objective on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup lifted their target price on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average target price of $118.83.

Seagate Technology Stock Up 0.5 %

Shares of STX stock opened at $89.60 on Wednesday. Seagate Technology Holdings plc has a twelve month low of $79.39 and a twelve month high of $115.32. The business has a fifty day simple moving average of $96.01 and a 200 day simple moving average of $100.94. The company has a market cap of $18.95 billion, a P/E ratio of 23.39 and a beta of 1.06.

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 analysts’ consensus estimates of $1.30 by $0.28. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The firm’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same period last year, the company posted ($0.34) EPS. As a group, equities research 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 was paid on Monday, January 6th. Stockholders of record on Sunday, December 15th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.21%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, December 13th. Seagate Technology’s dividend payout ratio is presently 75.20%.

Insider Activity at Seagate Technology

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 shares were sold at an average price of $99.53, for a total value of $1,990,600.00. Following the completion of the transaction, the chief executive officer now owns 642,497 shares in the company, valued at $63,947,726.41. This trade represents a 3.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the transaction, the director now owns 6,555 shares of the company’s stock, valued at approximately $667,430.10. This trade represents a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,304 shares of company stock valued at $5,656,238 in the last 90 days. 0.81% of the stock is owned by corporate insiders.

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.