True Freedom Investing LLC Buys 995 Shares of Seagate Technology Holdings PLC $STX

True Freedom Investing LLC bought a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 995 shares of the data storage provider’s stock, valued at approximately $918,000.

Several other large investors have also made changes to their positions in STX. Retirement Wealth Solutions LLC boosted its holdings in Seagate Technology by 70.6% in the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 12 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its position in Seagate Technology by 23.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 15 shares during the period. WealthCollab LLC increased its position in Seagate Technology by 27.4% in the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 20 shares during the period. Catalyst Capital Advisors LLC bought a new stake in Seagate Technology during the 1st quarter worth about $39,000. Finally, Jones Financial Companies Lllp bought a new stake in Seagate Technology during the 2nd quarter worth about $39,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $644.58 on Monday. The business has a fifty day simple moving average of $799.09 and a 200 day simple moving average of $688.41. The stock has a market cap of $146.57 billion, a PE ratio of 33.85 and a beta of 2.06. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.68. Seagate Technology Holdings PLC has a 12 month low of $228.61 and a 12 month high of $1,145.00.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share for the quarter, beating the consensus estimate of $7.44 by $0.24. Seagate Technology had a return on equity of 252.47% and a net margin of 31.86%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the prior year, the firm posted $2.61 earnings per share. The company’s quarterly revenue was up 61.0% on a year-over-year basis. Research analysts predict that Seagate Technology Holdings PLC will post 37.44 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Wednesday, December 23rd will be paid a $0.76 dividend. This is a boost from Seagate Technology’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Wednesday, December 23rd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. Seagate Technology’s dividend payout ratio (DPR) is currently 15.97%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on STX. Barclays upped their target price on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Summit Insights cut shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, October 28th. Susquehanna dropped their price target on shares of Seagate Technology from $925.00 to $765.00 and set a “neutral” rating for the company in a research note on Wednesday, October 28th. TD Cowen cut their price objective on shares of Seagate Technology from $1,000.00 to $900.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. Finally, Cantor Fitzgerald cut their price objective on shares of Seagate Technology from $1,300.00 to $1,000.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Twenty-three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,000.88.

Insider Buying and Selling

In related news, EVP Ban Teh sold 52,730 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $782.08, for a total value of $41,239,078.40. Following the sale, the executive vice president directly owned 5,810 shares in the company, valued at $4,543,884.80. This trade represents a 90.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 11,002 shares of Seagate Technology stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $935.60, for a total transaction of $10,293,471.20. Following the transaction, the chief executive officer directly owned 362,108 shares in the company, valued at $338,788,244.80. The trade was a 2.95% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 436,644 shares of company stock worth $353,934,542 over the last quarter. Insiders own 0.51% of the company’s stock.

About Seagate Technology

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.