Alethea Capital Management LLC Acquires New Shares in Seagate Technology Holdings plc (NASDAQ:STX)

Alethea Capital Management LLC acquired a new stake in Seagate Technology Holdings plc (NASDAQ:STX) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 2,783 shares of the data storage provider’s stock, valued at approximately $245,000.

Other hedge funds have also added to or reduced their stakes in the company. Stonebridge Capital Advisors LLC acquired a new stake in shares of Seagate Technology in the 1st quarter valued at $25,000. Evoke Wealth LLC lifted its stake in shares of Seagate Technology by 4,170.0% in the 2nd quarter. Evoke Wealth LLC now owns 427 shares of the data storage provider’s stock valued at $38,000 after purchasing an additional 417 shares during the last quarter. Kempen Capital Management N.V. lifted its position in Seagate Technology by 41.3% during the 2nd quarter. Kempen Capital Management N.V. now owns 462 shares of the data storage provider’s stock worth $41,000 after acquiring an additional 135 shares during the last quarter. Harbor Investment Advisory LLC lifted its position in Seagate Technology by 23.8% during the 2nd quarter. Harbor Investment Advisory LLC now owns 593 shares of the data storage provider’s stock worth $52,000 after acquiring an additional 114 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its position in Seagate Technology by 20.1% during the 2nd quarter. Penserra Capital Management LLC now owns 676 shares of the data storage provider’s stock worth $59,000 after acquiring an additional 113 shares during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

A number of research firms have weighed in on STX. Barclays raised shares of Seagate Technology from an “underweight” rating to an “equal weight” rating and set a $85.00 target price for the company in a research report on Wednesday, June 30th. Susquehanna Bancshares reissued a “hold” rating on shares of Seagate Technology in a research report on Monday, October 11th. Morgan Stanley lowered shares of Seagate Technology from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $118.00 to $88.00 in a research report on Wednesday, October 6th. UBS Group upgraded shares of Seagate Technology from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $83.00 to $105.00 in a report on Monday, August 16th. Finally, Stifel Nicolaus boosted their price objective on shares of Seagate Technology from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, October 22nd. Fourteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $96.57.

In other Seagate Technology news, CFO Gianluca Romano sold 26,139 shares of the company’s stock in a transaction that occurred on Monday, October 4th. The shares were sold at an average price of $84.40, for a total value of $2,206,131.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ban Seng Teh sold 2,340 shares of the stock in a transaction on Friday, September 10th. The stock was sold at an average price of $87.23, for a total transaction of $204,118.20. Following the sale, the executive vice president now directly owns 8,710 shares of the company’s stock, valued at approximately $759,773.30. The disclosure for this sale can be found here. Insiders sold 38,551 shares of company stock worth $3,309,190 over the last 90 days. 0.81% of the stock is currently owned by company insiders.

Shares of STX stock traded down $0.21 during trading hours on Wednesday, reaching $87.86. 35,557 shares of the company were exchanged, compared to its average volume of 2,964,023. Seagate Technology Holdings plc has a fifty-two week low of $46.92 and a fifty-two week high of $106.22. The stock’s fifty day moving average is $85.67 and its two-hundred day moving average is $88.08. The company has a market cap of $20.00 billion, a price-to-earnings ratio of 16.19, a P/E/G ratio of 9.09 and a beta of 1.08. The company has a debt-to-equity ratio of 7.76, a current ratio of 1.29 and a quick ratio of 0.88.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Thursday, October 21st. The data storage provider reported $2.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.21 by $0.14. Seagate Technology had a net margin of 12.30% and a return on equity of 130.74%. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the business posted $0.85 earnings per share. Seagate Technology’s revenue was up 34.6% compared to the same quarter last year. On average, research analysts anticipate that Seagate Technology Holdings plc will post 7.63 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 5th. Investors of record on Wednesday, December 22nd will be issued a $0.70 dividend. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.67. This represents a $2.80 annualized dividend and a yield of 3.19%. The ex-dividend date is Tuesday, December 21st. Seagate Technology’s dividend payout ratio is currently 50.85%.

Seagate Technology Company Profile

Seagate Technology Holdings Plc operates as holding company that is engaged in the development, production, and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid state hybrid drives, solid state drives, peripheral component interconnect express cards, serial advanced technology attachment controllers, storage subsystems and computing solutions.

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Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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