Charles Schwab Investment Management Inc. Buys 73,267 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Charles Schwab Investment Management Inc. raised its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,327,920 shares of the data storage provider’s stock after purchasing an additional 73,267 shares during the period. Charles Schwab Investment Management Inc. owned 0.63% of Seagate Technology worth $145,447,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. CreativeOne Wealth LLC acquired a new stake in Seagate Technology during the 1st quarter worth approximately $259,000. Lazard Asset Management LLC lifted its holdings in shares of Seagate Technology by 6.9% during the first quarter. Lazard Asset Management LLC now owns 13,609 shares of the data storage provider’s stock worth $1,266,000 after buying an additional 881 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of 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 valued at $24,011,000 after acquiring an additional 6,044 shares during the period. SVB Wealth LLC grew its stake in shares of Seagate Technology by 18.7% in the first quarter. SVB Wealth LLC now owns 6,273 shares of the data storage provider’s stock valued at $584,000 after acquiring an additional 987 shares in the last quarter. Finally, Ascent Group LLC increased its position in Seagate Technology by 4.2% during the first quarter. Ascent Group LLC now owns 12,534 shares of the data storage provider’s stock worth $1,166,000 after acquiring an additional 507 shares during the period. 92.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

STX has been the subject of a number of recent research reports. Northland Securities boosted their price objective on shares of Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $125.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. Citigroup upped their target price on Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Evercore ISI increased their target price on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.83.

Seagate Technology Stock Performance

NASDAQ STX opened at $99.62 on Monday. The firm’s fifty day moving average price is $104.69 and its two-hundred day moving average price is $101.71. The stock has a market cap of $21.07 billion, a PE ratio of 26.01 and a beta of 1.05. Seagate Technology Holdings plc has a fifty-two week low of $75.64 and a fifty-two week high of $115.32.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. The business had revenue of $2.17 billion for 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%. Seagate Technology’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.34) EPS. As a group, sell-side analysts predict that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Friday, December 13th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio (DPR) is 73.11%.

Insider Buying and Selling

In related news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the sale, the director now directly owns 3,034 shares in the company, valued at $291,567.40. This represents a 19.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kian Fatt Chong sold 9,182 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $105.50, for a total transaction of $968,701.00. The disclosure for this sale can be found here. Insiders have sold a total of 201,820 shares of company stock worth $21,892,856 in the last ninety days. Company insiders own 0.81% of the company’s stock.

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.