CCM Investment Advisers LLC Boosts Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

CCM Investment Advisers LLC raised its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 5.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,352 shares of the data storage provider’s stock after purchasing an additional 6,957 shares during the period. Seagate Technology accounts for 1.7% of CCM Investment Advisers LLC’s holdings, making the stock its 24th biggest position. CCM Investment Advisers LLC owned about 0.07% of Seagate Technology worth $15,482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in STX. Quarry LP purchased a new position in Seagate Technology during the second quarter valued at $27,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Seagate Technology by 2,407.1% in the second 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 in the last quarter. Family Firm Inc. purchased a new position in shares of Seagate Technology in the second quarter worth about $41,000. Richardson Financial Services Inc. purchased a new position in shares of Seagate Technology in the fourth quarter worth about $47,000. Finally, Larson Financial Group LLC lifted its stake in shares of Seagate Technology by 15,766.7% in the second quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock worth $49,000 after buying an additional 473 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Down 1.1 %

Shares of Seagate Technology stock opened at $108.12 on Friday. Seagate Technology Holdings plc has a 52-week low of $64.12 and a 52-week high of $113.57. The company has a 50 day moving average of $102.21 and a 200 day moving average of $98.31. The company has a market capitalization of $22.76 billion, a P/E ratio of 70.21 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.29. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the firm earned ($0.29) earnings per share. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, research analysts anticipate that Seagate Technology Holdings plc will post 6.72 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.80 annualized dividend and a dividend yield of 2.59%. Seagate Technology’s dividend payout ratio is presently 181.82%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on STX shares. Benchmark reissued a “hold” rating on shares of Seagate Technology in a research note on Wednesday, July 24th. Northland Securities raised their price objective on shares of Seagate Technology from $119.00 to $142.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Morgan Stanley raised their price objective on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald raised their price objective on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $115.94.

Insider Transactions at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the sale, the director now owns 3,034 shares in the company, valued at approximately $291,567.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Ban Seng Teh sold 4,872 shares of the company’s 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 completion of the sale, the executive vice president now owns 9,969 shares in the company, valued at $1,096,590. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the sale, the director now owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 223,284 shares of company stock worth $23,800,887. 0.81% of the stock is currently owned by 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.