Elevated Capital Advisors LLC Grows Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Elevated Capital Advisors LLC boosted its position in Seagate Technology Holdings plc (NASDAQ:STX) by 6.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,787 shares of the data storage provider’s stock after buying an additional 711 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Seagate Technology were worth $1,017,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STX. Victory Capital Management Inc. lifted its stake in Seagate Technology by 133.8% during the third quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock worth $18,834,000 after purchasing an additional 98,418 shares during the last quarter. Versor Investments LP bought a new position in shares of Seagate Technology in the 3rd quarter worth about $2,146,000. Lighthouse Investment Partners LLC acquired a new position in shares of Seagate Technology in the 2nd quarter valued at about $499,000. Forte Capital LLC ADV grew its position in shares of Seagate Technology by 29.8% during the 3rd quarter. Forte Capital LLC ADV now owns 28,972 shares of the data storage provider’s stock valued at $3,173,000 after buying an additional 6,653 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in Seagate Technology by 3,549.7% during the third quarter. International Assets Investment Management LLC now owns 204,493 shares of the data storage provider’s stock worth $22,398,000 after acquiring an additional 198,890 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Seagate Technology

In related news, Director Jay L. Geldmacher sold 4,100 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $103.30, for a total transaction of $423,530.00. Following the completion of the sale, the director now directly owns 2,852 shares of the company’s stock, valued at $294,611.60. This trade represents a 58.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP John Christopher Morris sold 1,131 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total value of $126,558.90. Following the sale, the senior vice president now owns 7,191 shares in the company, valued at $804,672.90. The trade was a 13.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,304 shares of company stock worth $5,656,238 over the last three months. Company insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on STX. Citigroup upped their target price on shares of Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Evercore ISI increased their price objective on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Mizuho decreased their price target on Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $125.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. One analyst has 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.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average price target of $121.53.

Seagate Technology Stock Performance

Shares of NASDAQ:STX traded up $0.06 on Monday, hitting $88.93. 2,693,977 shares of the company were exchanged, compared to its average volume of 2,379,373. The company’s 50 day moving average price is $95.35 and its two-hundred day moving average price is $100.64. Seagate Technology Holdings plc has a one year low of $82.31 and a one year high of $115.32. The firm has a market capitalization of $18.81 billion, a price-to-earnings ratio of 23.22 and a beta of 1.06.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS 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%. Seagate Technology’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same period last year, the business earned ($0.34) earnings per share. Research analysts predict that Seagate Technology Holdings plc will post 7.18 earnings per share for the current year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Sunday, December 15th were paid a $0.72 dividend. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, December 13th. This represents a $2.88 annualized dividend and a yield of 3.24%. Seagate Technology’s payout ratio is currently 75.20%.

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.