Truvestments Capital LLC Makes New $110,000 Investment in Seagate Technology Holdings plc (NASDAQ:STX)

Truvestments Capital LLC bought a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,000 shares of the data storage provider’s stock, valued at approximately $110,000.

A number of other institutional investors also recently bought and sold shares of STX. Point72 Hong Kong Ltd purchased a new position in Seagate Technology during the second quarter worth about $35,349,000. Duquesne Family Office LLC raised its stake in shares of Seagate Technology by 22.0% in the 2nd quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock valued at $181,268,000 after acquiring an additional 316,295 shares during the period. Mizuho Markets Americas LLC purchased a new stake in shares of Seagate Technology in the 3rd quarter valued at approximately $32,598,000. AQR Capital Management LLC raised its stake in shares of Seagate Technology by 519.1% in the 2nd quarter. AQR Capital Management LLC now owns 323,401 shares of the data storage provider’s stock valued at $33,398,000 after acquiring an additional 271,160 shares during the period. Finally, Liontrust Investment Partners LLP purchased a new stake in shares of Seagate Technology in the 2nd quarter valued at approximately $24,635,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on STX shares. Citigroup boosted their price target on shares of Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Benchmark reissued a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Northland Securities boosted 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. StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, Wedbush reaffirmed an “outperform” rating and set a $150.00 target price on shares of Seagate Technology in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

Seagate Technology Stock Up 0.3 %

NASDAQ STX opened at $101.66 on Wednesday. Seagate Technology Holdings plc has a 52 week low of $76.30 and a 52 week high of $115.32. The stock has a market capitalization of $21.50 billion, a PE ratio of 26.54 and a beta of 1.05. The firm has a 50 day moving average of $104.69 and a two-hundred day moving average of $101.86.

Seagate Technology (NASDAQ:STX) last issued its earnings results 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. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the business posted ($0.34) EPS. The company’s revenue for the quarter was up 49.1% on a year-over-year basis. On average, equities research analysts expect that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be issued a $0.72 dividend. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. This represents a $2.88 annualized dividend and a dividend yield of 2.83%. Seagate Technology’s dividend payout ratio is presently 73.11%.

Insider Activity

In related news, EVP Ban Seng Teh sold 4,872 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total transaction of $535,920.00. Following the completion of the sale, the executive vice president now owns 9,969 shares in the company, valued at $1,096,590. This represents a 32.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the 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 sale, the director now owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. This represents a 19.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 201,820 shares of company stock worth $21,892,856. Corporate 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.