Aljian Capital Management LLC Invests $205,000 in Seagate Technology Holdings plc (NASDAQ:STX)

Aljian Capital Management LLC acquired a new stake in Seagate Technology Holdings plc (NASDAQ:STX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,869 shares of the data storage provider’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of STX. Sequoia Financial Advisors LLC increased its stake in Seagate Technology by 3.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock valued at $281,000 after buying an additional 89 shares during the period. CWM LLC raised its holdings in Seagate Technology by 3.0% during the second quarter. CWM LLC now owns 3,307 shares of the data storage provider’s stock worth $342,000 after purchasing an additional 97 shares in the last quarter. Affinity Capital Advisors LLC lifted its position in Seagate Technology by 1.5% in the third quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock worth $725,000 after purchasing an additional 100 shares during the period. Kingswood Wealth Advisors LLC boosted its stake in Seagate Technology by 3.7% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider’s stock valued at $357,000 after purchasing an additional 122 shares in the last quarter. Finally, Burney Co. increased its position in shares of Seagate Technology by 3.3% during the 1st quarter. Burney Co. now owns 3,948 shares of the data storage provider’s stock valued at $367,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Buying and Selling at Seagate Technology

In related news, SVP John Christopher Morris sold 1,131 shares of Seagate Technology stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total value of $126,558.90. Following the completion of the sale, the senior vice president now owns 7,191 shares of the company’s stock, valued at approximately $804,672.90. The trade was a 13.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was 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 $291,567.40. This represents a 19.82 % decrease in their ownership of the stock. 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 90 days. 0.81% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on STX. Morgan Stanley raised their target price on Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. Robert W. Baird boosted their target price on shares of Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Citigroup raised their target price on shares of Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.83.

Seagate Technology Trading Up 0.2 %

Shares of NASDAQ STX opened at $97.02 on Tuesday. The firm has a market capitalization of $20.52 billion, a PE ratio of 25.33 and a beta of 1.05. Seagate Technology Holdings plc has a one year low of $75.52 and a one year high of $115.32. The business has a 50-day moving average price of $105.02 and a two-hundred day moving average price of $101.45.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data 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. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm posted ($0.34) earnings per share. The firm’s revenue was up 49.1% on a year-over-year basis. Research analysts anticipate that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be given 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 dividend on an annualized basis and a yield of 2.97%. Seagate Technology’s dividend payout ratio (DPR) is presently 73.11%.

Seagate Technology Company 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.