Entropy Technologies LP Purchases 2,260 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Entropy Technologies LP increased its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 42.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,617 shares of the data storage provider’s stock after purchasing an additional 2,260 shares during the period. Entropy Technologies LP’s holdings in Seagate Technology were worth $834,000 at the end of the most recent reporting period.

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

Seagate Technology Stock Down 0.8 %

NASDAQ:STX opened at $97.46 on Friday. The company has a market capitalization of $20.62 billion, a PE ratio of 25.45 and a beta of 1.05. Seagate Technology Holdings plc has a 52-week low of $74.06 and a 52-week high of $115.32. The stock has a fifty day simple moving average of $105.11 and a 200-day simple moving average of $101.18.

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

Seagate Technology Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on STX. The Goldman Sachs Group lifted their price objective on shares of Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Susquehanna boosted their target price on shares of Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research report on Wednesday, July 24th. Citigroup upped their price objective on shares of Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird boosted their target price on shares of Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, UBS Group boosted their target price on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $118.83.

Insider Buying and Selling at Seagate Technology

In other 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 transaction of $72,075.00. Following the completion of the transaction, the director now directly owns 3,034 shares in the company, valued at approximately $291,567.40. This represents a 19.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.53, for a total value of $1,990,600.00. Following the transaction, the chief executive officer now owns 642,497 shares of the company’s stock, valued at approximately $63,947,726.41. This trade represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 201,820 shares of company stock worth $21,892,856 in the last 90 days. 0.81% of the stock is owned by company insiders.

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.