Kestra Advisory Services LLC Acquires 2,282 Shares of Seagate Technology Holdings PLC $STX

Kestra Advisory Services LLC lifted its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 14.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,679 shares of the data storage provider’s stock after purchasing an additional 2,282 shares during the period. Kestra Advisory Services LLC’s holdings in Seagate Technology were worth $16,306,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in STX. Richardson Financial Services Inc. grew its position in Seagate Technology by 40.7% in the third quarter. Richardson Financial Services Inc. now owns 892 shares of the data storage provider’s stock worth $823,000 after buying an additional 258 shares during the last quarter. Ascent Group LLC lifted its position in shares of Seagate Technology by 1.8% during the 3rd quarter. Ascent Group LLC now owns 7,529 shares of the data storage provider’s stock valued at $6,944,000 after acquiring an additional 135 shares during the last quarter. 3Chopt Investment Partners LLC lifted its position in shares of Seagate Technology by 19.8% during the 3rd quarter. 3Chopt Investment Partners LLC now owns 412 shares of the data storage provider’s stock valued at $380,000 after acquiring an additional 68 shares during the last quarter. Compass Financial Management LLC acquired a new stake in shares of Seagate Technology during the 3rd quarter valued at $584,000. Finally, Provenance Wealth Advisors LLC boosted its stake in shares of Seagate Technology by 2,953.8% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 397 shares of the data storage provider’s stock worth $366,000 after acquiring an additional 384 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $460.99 on Monday. The business’s 50-day moving average price is $769.59 and its two-hundred day moving average price is $693.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.82 and a quick ratio of 1.25. Seagate Technology Holdings PLC has a one year low of $228.61 and a one year high of $1,145.00. The company has a market capitalization of $105.82 billion, a P/E ratio of 24.21 and a beta of 2.16.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share for the quarter, topping 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 company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the prior year, the firm posted $2.61 EPS. The business’s revenue was up 61.0% compared to the same quarter last year. Analysts anticipate that Seagate Technology Holdings PLC will post 37.96 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 23rd will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, December 23rd. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.74. Seagate Technology’s dividend payout ratio (DPR) is presently 15.55%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CEO William Mosley sold 97,889 shares of Seagate Technology stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $772.14, for a total value of $75,584,012.46. Following the completion of the sale, the chief executive officer directly owned 378,108 shares in the company, valued at $291,952,311.12. The trade was a 20.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gianluca Romano sold 49,984 shares of Seagate Technology stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $772.16, for a total transaction of $38,595,645.44. Following the completion of the sale, the chief financial officer owned 70,756 shares of the company’s stock, valued at $54,634,952.96. This trade represents a 41.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 447,108 shares of company stock worth $356,049,743. Corporate insiders own 0.51% of the company’s stock.

Key Headlines Impacting Seagate Technology

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Recent fiscal first-quarter results beat estimates, with revenue of $4.23 billion and EPS of $7.72. Seagate also guided to about $4.8 billion in fiscal second-quarter revenue, supporting the growth case. Earnings Beat Might Change The Case For Seagate Stock
• Positive Sentiment: Growth-focused commentary argues Seagate has attributes that could support above-market performance, adding to the bullish earnings narrative. The articles do not specify additional catalysts. 3 Reasons Growth Investors Will Love Seagate
• Negative Sentiment: A report attributed a sharp decline in Seagate shares to insider selling, which can raise concerns about insiders’ confidence, even though selling alone does not establish their outlook. Seagate Technology Stock Falls on Insider Selling
• Negative Sentiment: Seagate and other AI-linked stocks faced pressure amid a wider AI-trade selloff and calls from a lawmaker to pause advanced AI development. That uncertainty may temper enthusiasm around data-storage demand tied to AI investment. Seagate Sinks as Lawmaker Urges a Pause on Advanced AI Development

Analysts Set New Price Targets

A number of equities analysts recently issued reports on STX shares. Weiss Ratings cut Seagate Technology from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, November 2nd. Citigroup cut their target price on Seagate Technology from $1,300.00 to $1,050.00 and set a “buy” rating on the stock in a research report on Wednesday, October 28th. Robert W. Baird set a $1,350.00 target price on Seagate Technology in a report on Wednesday, October 28th. Wells Fargo & Company decreased their price target on Seagate Technology from $865.00 to $820.00 and set an “overweight” rating for the company in a research report on Wednesday, October 28th. Finally, Cantor Fitzgerald dropped their price target on Seagate Technology from $1,300.00 to $1,000.00 and set an “overweight” rating on the stock in a research note on Monday, October 26th. Twenty-three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average price target of $1,000.88.

Seagate Technology Profile

Seagate Technology develops and supplies data-storage products and solutions for businesses and consumers. Its portfolio includes hard disk drives (HDDs), solid-state drives, and storage systems designed for applications ranging from personal computing to large-scale data centers.

The company’s products support cloud and enterprise storage, network-attached storage, video surveillance, gaming, and other uses that require digital data to be stored and accessed. Seagate also offers data-management and storage services through its Lyve platform.

Founded in 1979, Seagate has a long history in the hard disk drive industry.