Harvest Fund Management Co. Ltd Takes Position in Seagate Technology Holdings plc (NASDAQ:STX)

Harvest Fund Management Co. Ltd 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 & Exchange Commission. The institutional investor acquired 483 shares of the data storage provider’s stock, valued at approximately $53,000.

Other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. boosted its position in shares of Seagate Technology by 133.8% in the third quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock valued at $18,834,000 after acquiring an additional 98,418 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Seagate Technology by 2.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock worth $24,011,000 after purchasing an additional 6,044 shares during the period. Versor Investments LP bought a new position in Seagate Technology in the third quarter worth $2,146,000. Lighthouse Investment Partners LLC bought a new position in Seagate Technology in the second quarter worth $499,000. Finally, Lazard Asset Management LLC lifted its position in Seagate Technology by 6.9% in the first 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 during the period. 92.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the company. Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Seagate Technology in a research report on Wednesday, October 23rd. Rosenblatt Securities raised their target price on Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Evercore ISI lifted their price objective on Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Benchmark reissued a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. 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 stock. According to MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.83.

Insiders Place Their Bets

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 transaction of $72,075.00. Following the completion of the transaction, the director now directly owns 3,034 shares in the company, valued at approximately $291,567.40. The trade was a 19.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $110.18, for a total value of $15,621,871.30. Following the transaction, the chief executive officer now owns 668,616 shares of the company’s stock, valued at $73,668,110.88. The trade was a 17.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 201,820 shares of company stock valued at $21,892,856. 0.81% of the stock is currently owned by insiders.

Seagate Technology Stock Down 1.6 %

Seagate Technology stock opened at $100.00 on Thursday. The stock has a 50-day simple moving average of $104.68 and a 200 day simple moving average of $101.91. Seagate Technology Holdings plc has a 12-month low of $76.30 and a 12-month high of $115.32. The stock has a market capitalization of $21.15 billion, a price-to-earnings ratio of 26.11 and a beta of 1.05.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.28. The firm 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 company’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.34) EPS. As a group, sell-side 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. Shareholders of record on Sunday, December 15th will be issued a dividend of $0.72 per share. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology’s payout ratio is currently 73.11%.

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.