Veracity Capital LLC Makes New $367,000 Investment in Seagate Technology Holdings plc (NASDAQ:STX)

Veracity Capital LLC bought a new position in Seagate Technology Holdings plc (NASDAQ:STX) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,347 shares of the data storage provider’s stock, valued at approximately $367,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC purchased a new stake in shares of Seagate Technology in the fourth quarter worth $219,000. GAMMA Investing LLC raised its holdings in Seagate Technology by 37.5% during the first quarter. GAMMA Investing LLC now owns 931 shares of the data storage provider’s stock valued at $87,000 after acquiring an additional 254 shares during the period. Czech National Bank lifted its position in shares of Seagate Technology by 0.6% in the first quarter. Czech National Bank now owns 34,283 shares of the data storage provider’s stock valued at $3,190,000 after acquiring an additional 211 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Seagate Technology by 7.1% in the first quarter. Park Avenue Securities LLC now owns 5,590 shares of the data storage provider’s stock worth $520,000 after acquiring an additional 371 shares during the period. Finally, RFG Advisory LLC bought a new position in shares of Seagate Technology in the first quarter worth about $235,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Yolanda Lee Conyers sold 750 shares of the 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 transaction, the director now owns 3,034 shares of the company’s stock, valued at $291,567.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Ban Seng Teh sold 4,872 shares of the stock in a transaction that occurred on 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the business’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 transaction of $72,075.00. Following the completion of the transaction, the director now directly owns 3,034 shares of the company’s stock, valued at $291,567.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 223,284 shares of company stock valued at $23,800,887. Corporate insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on STX shares. Benchmark reissued a “hold” rating on shares of Seagate Technology in a report on Wednesday, July 24th. Loop Capital increased their price objective on shares of Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Rosenblatt Securities raised their price objective on Seagate Technology from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Wells Fargo & Company boosted their target price on Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Finally, Northland Securities raised their price target on Seagate Technology from $119.00 to $142.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $115.94.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $112.12 on Friday. The business’s 50 day moving average price is $104.29 and its 200-day moving average price is $99.16. Seagate Technology Holdings plc has a fifty-two week low of $64.12 and a fifty-two week high of $115.32. The company has a market cap of $23.54 billion, a price-to-earnings ratio of -86.91 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.29. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the company earned ($0.29) earnings per share. Sell-side analysts predict that Seagate Technology Holdings plc will post 7.09 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 23rd were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Monday, September 23rd. Seagate Technology’s dividend payout ratio (DPR) is presently -217.05%.

Seagate Technology Company 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.