Aljian Capital Management LLC Purchases Shares of 1,869 Seagate Technology Holdings plc (NASDAQ:STX)

Aljian Capital Management LLC acquired a new position in Seagate Technology Holdings plc (NASDAQ:STX) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 1,869 shares of the data storage provider’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bessemer Group Inc. grew its holdings in Seagate Technology by 68.7% in the 1st quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock valued at $1,634,000 after buying an additional 7,150 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Seagate Technology by 2.4% during 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 acquiring an additional 6,044 shares during the period. Versor Investments LP acquired a new position in Seagate Technology during the 3rd quarter valued at $2,146,000. Lighthouse Investment Partners LLC acquired a new position in Seagate Technology during the 2nd quarter valued at $499,000. Finally, Lazard Asset Management LLC boosted 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 valued at $1,266,000 after purchasing an additional 881 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Seagate Technology news, EVP Ban Seng Teh sold 4,872 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.00, for a total transaction of $535,920.00. Following the transaction, the executive vice president now directly owns 9,969 shares in the company, valued at approximately $1,096,590. This represents a 32.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred 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. Insiders have sold 201,820 shares of company stock valued at $21,892,856 over the last three months. 0.81% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on STX shares. Wells Fargo & Company upped their price objective on shares of Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. UBS Group lifted their price objective on Seagate Technology from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Northland Securities upped their target price on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Two research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

Seagate Technology Price Performance

STX stock opened at $97.02 on Tuesday. The stock has a market capitalization of $20.52 billion, a price-to-earnings ratio of 25.33 and a beta of 1.05. The business has a fifty day moving average price of $105.02 and a 200 day moving average price of $101.45. Seagate Technology Holdings plc has a fifty-two week low of $75.52 and a fifty-two week high of $115.32.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The firm’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same period last year, the company posted ($0.34) earnings per share. On average, equities 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 given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.97%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. Seagate Technology’s dividend payout ratio is presently 73.11%.

Seagate Technology 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.