Seagate Technology Holdings plc (NASDAQ:STX) Shares Bought by CCM Investment Advisers LLC

CCM Investment Advisers LLC boosted its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 2.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 145,304 shares of the data storage provider’s stock after purchasing an additional 3,952 shares during the period. CCM Investment Advisers LLC owned approximately 0.07% of Seagate Technology worth $12,541,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Sanders Capital LLC raised its position in shares of Seagate Technology by 0.9% in the third quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider’s stock worth $1,792,742,000 after acquiring an additional 150,115 shares during the period. State Street Corp raised its holdings in Seagate Technology by 6.8% in the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock worth $937,081,000 after purchasing an additional 541,585 shares during the period. Geode Capital Management LLC boosted its position in Seagate Technology by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock worth $454,477,000 after purchasing an additional 318,416 shares in the last quarter. Franklin Resources Inc. grew its holdings in Seagate Technology by 29.5% in the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock valued at $197,844,000 after purchasing an additional 405,232 shares during the period. Finally, Duquesne Family Office LLC increased its position 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 valued at $181,268,000 after buying an additional 316,295 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

STX has been the topic of several research analyst reports. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and set a $150.00 price target on shares of Seagate Technology in a research report on Wednesday, October 23rd. Rosenblatt Securities raised 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. The Goldman Sachs Group lowered their target price on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Evercore ISI increased 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. Two investment 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’s stock. According to MarketBeat.com, Seagate Technology has an average rating of “Moderate Buy” and an average target price of $118.39.

Seagate Technology Trading Down 1.5 %

Seagate Technology stock traded down $1.37 during trading on Friday, hitting $87.32. The company had a trading volume of 746,814 shares, compared to its average volume of 2,191,064. Seagate Technology Holdings plc has a 1-year low of $79.39 and a 1-year high of $115.32. The company’s 50 day simple moving average is $95.55 and its 200-day simple moving average is $100.77. The stock has a market cap of $18.47 billion, a price-to-earnings ratio of 22.80 and a beta of 1.06.

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 analysts’ consensus estimates of $1.30 by $0.28. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 49.1% on a year-over-year basis. During the same period last year, the business posted ($0.34) EPS. As a group, analysts forecast that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Sunday, December 15th were issued a dividend of $0.72 per share. The ex-dividend date was Friday, December 13th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a yield of 3.30%. Seagate Technology’s dividend payout ratio is 75.20%.

Insider Buying and Selling at Seagate Technology

In other news, SVP John Christopher Morris sold 1,131 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total transaction of $126,558.90. Following the completion of the transaction, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at approximately $804,672.90. The trade was a 13.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $1,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 642,497 shares in the company, valued at approximately $63,947,726.41. This trade represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,304 shares of company stock valued at $5,656,238 in the last 90 days. Company insiders own 0.81% of the company’s stock.

About Seagate Technology

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.