995 Shares of Seagate Technology Holdings PLC $STX Bought by True Freedom Investing LLC

True Freedom Investing LLC bought a new stake in Seagate Technology Holdings PLC (NASDAQ:STX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 995 shares of the data storage provider’s stock, valued at approximately $918,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC raised its holdings in Seagate Technology by 70.6% in the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 12 shares in the last quarter. Bridgewater Advisors Inc. grew its holdings in shares of Seagate Technology by 0.9% during the 1st quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock worth $579,000 after purchasing an additional 13 shares in the last quarter. Baker Tilly Wealth Management LLC increased its position in shares of Seagate Technology by 4.6% during the third quarter. Baker Tilly Wealth Management LLC now owns 319 shares of the data storage provider’s stock valued at $295,000 after purchasing an additional 14 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Seagate Technology by 23.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 15 shares during the period. Finally, One River Asset Management LLC raised its stake in shares of Seagate Technology by 50.0% in the third quarter. One River Asset Management LLC now owns 45 shares of the data storage provider’s stock valued at $42,000 after purchasing an additional 15 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Stock Performance

Shares of STX opened at $644.58 on Monday. The stock has a fifty day moving average price of $799.09 and a two-hundred day moving average price of $688.41. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.25 and a current ratio of 1.82. Seagate Technology Holdings PLC has a 52-week low of $228.61 and a 52-week high of $1,145.00. The company has a market cap of $146.57 billion, a price-to-earnings ratio of 33.85 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, October 27th. The data storage provider reported $7.68 EPS for the quarter, topping the consensus estimate of $7.44 by $0.24. Seagate Technology had a return on equity of 252.47% and a net margin of 31.86%. The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the business earned $2.61 earnings per share. The business’s revenue for the quarter was up 61.0% on a year-over-year basis. Analysts predict that Seagate Technology Holdings PLC will post 37.44 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 23rd will be given a dividend of $0.76 per share. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.74. The ex-dividend date is Wednesday, December 23rd. This represents a $3.04 annualized dividend and a yield of 0.5%. Seagate Technology’s dividend payout ratio is currently 15.97%.

Wall Street Analyst Weigh In

Several brokerages recently commented on STX. Zacks Research cut Seagate Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Citigroup lowered their target price on shares of Seagate Technology from $1,300.00 to $1,050.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. Cantor Fitzgerald dropped their target price on shares of Seagate Technology from $1,300.00 to $1,000.00 and set an “overweight” rating for the company in a research report on Monday, October 26th. Weiss Ratings raised shares of Seagate Technology from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. Finally, Robert W. Baird set a $1,350.00 price target on shares of Seagate Technology in a research report on Wednesday. Twenty-three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,000.88.

Insider Activity

In other Seagate Technology news, EVP James Lee sold 547 shares of the business’s stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $642.14, for a total value of $351,250.58. Following the completion of the transaction, the executive vice president directly owned 1,037 shares of the company’s stock, valued at approximately $665,899.18. The trade was a 34.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Gianluca Romano sold 49,984 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $772.16, for a total transaction of $38,595,645.44. Following the transaction, the chief financial officer owned 70,756 shares in the company, valued at $54,634,952.96. The trade was a 41.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 436,644 shares of company stock worth $353,934,542. 0.51% of the stock is currently owned by insiders.

Seagate Technology Company Profile

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.