Brooklyn Investment Group Purchases Shares of 510 Seagate Technology Holdings plc (NASDAQ:STX)

Brooklyn Investment Group purchased a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 510 shares of the data storage provider’s stock, valued at approximately $56,000.

A number of other institutional investors have also made changes to their positions in the stock. Duquesne Family Office LLC grew its holdings in shares of Seagate Technology by 22.0% in the second quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock valued at $181,268,000 after purchasing an additional 316,295 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Seagate Technology by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,327,920 shares of the data storage provider’s stock valued at $145,447,000 after purchasing an additional 73,267 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Seagate Technology by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,019,657 shares of the data storage provider’s stock valued at $105,306,000 after purchasing an additional 9,062 shares in the last quarter. Primecap Management Co. CA grew its holdings in shares of Seagate Technology by 3.3% in the third quarter. Primecap Management Co. CA now owns 601,420 shares of the data storage provider’s stock valued at $65,874,000 after purchasing an additional 19,125 shares in the last quarter. Finally, Swiss National Bank lifted its stake in Seagate Technology by 0.5% in the third quarter. Swiss National Bank now owns 592,000 shares of the data storage provider’s stock worth $64,842,000 after acquiring an additional 2,700 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on STX. Wedbush reiterated an “outperform” rating and issued a $150.00 price target 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 report on Wednesday, October 23rd. Citigroup boosted their price objective 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 boosted their price objective on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Rosenblatt Securities boosted their price objective on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and an average target price of $118.83.

Insider Transactions at Seagate Technology

In related news, CEO William D. Mosley sold 141,785 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.18, for a total value of $15,621,871.30. Following the sale, the chief executive officer now directly owns 668,616 shares of the company’s stock, valued at approximately $73,668,110.88. This represents a 17.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kian Fatt Chong sold 9,182 shares of the stock in a transaction dated Friday, November 8th. The shares were 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 valued at $21,892,856 in the last ninety days. 0.81% of the stock is currently owned by company insiders.

Seagate Technology Stock Performance

Shares of STX opened at $101.33 on Friday. The stock has a market capitalization of $21.43 billion, a P/E ratio of 26.46 and a beta of 1.05. The company’s fifty day moving average is $104.51 and its two-hundred day moving average is $101.94. Seagate Technology Holdings plc has a 1 year low of $76.87 and a 1 year high of $115.32.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.28. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. Seagate Technology’s revenue was up 49.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.34) EPS. Sell-side analysts predict that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.84%. Seagate Technology’s dividend payout ratio is 73.11%.

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.