Prime Capital Investment Advisors LLC Has $5.60 Million Stake in Seagate Technology Holdings plc (NASDAQ:STX)

by · The Markets Daily

Prime Capital Investment Advisors LLC lowered its position in Seagate Technology Holdings plc (NASDAQ:STX – Free Report) by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 51,120 shares of the data storage provider’s stock after selling 689 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Seagate Technology were worth $5,599,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Bessemer Group Inc. raised its holdings in shares of Seagate Technology by 68.7% in the 1st quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock worth $1,634,000 after purchasing an additional 7,150 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 valued at $24,011,000 after acquiring an additional 6,044 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Seagate Technology by 21.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 232,957 shares of the data storage provider’s stock worth $21,677,000 after acquiring an additional 40,649 shares during the last quarter. Lighthouse Investment Partners LLC bought a new stake in shares of Seagate Technology in the 2nd quarter worth approximately $499,000. Finally, Lazard Asset Management LLC raised its holdings in 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. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $125.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and set a $150.00 price target on shares of Seagate Technology in a research note on Wednesday, October 23rd. The Goldman Sachs Group upped their target price on shares of Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Barclays lifted their price target on shares of Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley raised their target price on shares of Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and a consensus price target of $118.83.

View Our Latest Research Report on Seagate Technology

Seagate Technology Stock Down 2.0 %

STX stock opened at $99.80 on Wednesday. The stock has a market cap of $21.11 billion, a price-to-earnings ratio of 26.06 and a beta of 1.05. The business has a fifty day moving average of $105.16 and a two-hundred day moving average of $101.20. Seagate Technology Holdings plc has a 52-week low of $71.67 and a 52-week high of $115.32.

Seagate Technology (NASDAQ:STX – Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.28. The business 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%. The business’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.34) EPS. As a group, sell-side analysts anticipate that Seagate Technology Holdings plc will post 7.35 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be paid a dividend of $0.72 per share. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.88 annualized dividend and a yield of 2.89%. Seagate Technology’s payout ratio is presently 75.20%.

Insider Buying and Selling at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the sale, the director now directly owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 642,497 shares in the company, valued at approximately $63,947,726.41. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the sale, the director now owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 201,820 shares of company stock worth $21,892,856 over the last three months. Insiders own 0.81% of the company’s stock.

Seagate Technology Profile

(Free Report)

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.

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