Seagate Technology Holdings plc (NASDAQ:STX) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC increased its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 4.3% during the third quarter, Holdings Channel reports. The fund owned 12,194 shares of the data storage provider’s stock after acquiring an additional 503 shares during the quarter. Apollon Wealth Management LLC’s holdings in Seagate Technology were worth $1,336,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in Seagate Technology in the 3rd quarter worth about $26,000. Quarry LP acquired a new position in shares of Seagate Technology during the 2nd quarter worth $27,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Seagate Technology by 2,407.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after buying an additional 337 shares during the period. Family Firm Inc. bought a new stake in shares of Seagate Technology during the 2nd quarter worth $41,000. Finally, JFS Wealth Advisors LLC boosted its holdings in Seagate Technology by 232.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock valued at $46,000 after purchasing an additional 293 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analysts Set New Price Targets

STX has been the subject of several research reports. Wedbush restated an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a research report on Wednesday, October 23rd. Susquehanna lifted their price objective on shares of Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research note on Wednesday, July 24th. StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. The Goldman Sachs Group boosted their target price on shares of Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Wells Fargo & Company upped their price objective on shares of Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $118.83.

Insiders Place Their Bets

In other news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $291,567.40. This represents a 19.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ban Seng Teh sold 4,872 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total value of $535,920.00. Following the sale, the executive vice president now directly owns 9,969 shares in the company, valued at $1,096,590. This trade represents a 32.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 201,820 shares of company stock valued at $21,892,856 over the last quarter. 0.81% of the stock is owned by corporate insiders.

Seagate Technology Stock Down 0.8 %

Shares of STX opened at $97.46 on Friday. The business’s fifty day moving average is $105.11 and its 200 day moving average is $101.18. Seagate Technology Holdings plc has a 12-month low of $74.06 and a 12-month high of $115.32. The stock has a market cap of $20.62 billion, a P/E ratio of 25.45 and a beta of 1.05.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.28. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm posted ($0.34) EPS. The firm’s revenue for the quarter was up 49.1% on a year-over-year basis. On average, analysts expect that Seagate Technology Holdings plc will post 7.35 EPS for the current year.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.88 annualized dividend and a yield of 2.96%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio is currently 73.11%.

About Seagate Technology

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.