Kestra Advisory Services LLC Buys 2,282 Shares of Seagate Technology Holdings PLC $STX

Kestra Advisory Services LLC grew its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 14.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,679 shares of the data storage provider’s stock after buying an additional 2,282 shares during the period. Kestra Advisory Services LLC’s holdings in Seagate Technology were worth $16,306,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Richardson Financial Services Inc. raised its stake in shares of Seagate Technology by 40.7% in the 3rd quarter. Richardson Financial Services Inc. now owns 892 shares of the data storage provider’s stock valued at $823,000 after acquiring an additional 258 shares in the last quarter. Ascent Group LLC lifted its holdings in Seagate Technology by 1.8% in the 3rd quarter. Ascent Group LLC now owns 7,529 shares of the data storage provider’s stock worth $6,944,000 after purchasing an additional 135 shares during the last quarter. 3Chopt Investment Partners LLC boosted its position in Seagate Technology by 19.8% during the third quarter. 3Chopt Investment Partners LLC now owns 412 shares of the data storage provider’s stock worth $380,000 after purchasing an additional 68 shares during the period. Compass Financial Management LLC bought a new stake in Seagate Technology during the third quarter worth approximately $584,000. Finally, Provenance Wealth Advisors LLC boosted its position in Seagate Technology by 2,953.8% during the third quarter. Provenance Wealth Advisors LLC now owns 397 shares of the data storage provider’s stock worth $366,000 after purchasing an additional 384 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Transactions at Seagate Technology

In other news, EVP Ban Teh sold 52,730 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total transaction of $41,239,078.40. Following the sale, the executive vice president directly owned 5,810 shares in the company, valued at approximately $4,543,884.80. The trade was a 90.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 49,984 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $772.16, for a total value of $38,595,645.44. Following the sale, the chief financial officer owned 70,756 shares in the company, valued at approximately $54,634,952.96. This represents a 41.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 447,108 shares of company stock worth $356,049,743. Insiders own 0.51% of the company’s stock.

Seagate Technology Stock Performance

NASDAQ:STX opened at $460.99 on Monday. The firm’s 50-day moving average is $769.59 and its 200-day moving average is $693.82. Seagate Technology Holdings PLC has a 52-week low of $228.61 and a 52-week high of $1,145.00. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.25 and a current ratio of 1.82. The company has a market cap of $105.82 billion, a price-to-earnings ratio of 24.21 and a beta of 2.16.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, October 27th. The data storage provider reported $7.68 EPS for the quarter, beating analysts’ consensus estimates of $7.44 by $0.24. Seagate Technology had a net margin of 31.86% and a return on equity of 252.47%. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the prior year, the business earned $2.61 earnings per share. The firm’s revenue for the quarter was up 61.0% on a year-over-year basis. Equities research analysts anticipate that Seagate Technology Holdings PLC will post 37.96 earnings per share for the current year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Wednesday, December 23rd will be issued a $0.76 dividend. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Wednesday, December 23rd. This represents a $3.04 annualized dividend and a yield of 0.7%. Seagate Technology’s payout ratio is currently 15.55%.

Key Stories Impacting Seagate Technology

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Recent fiscal first-quarter results beat estimates, with revenue of $4.23 billion and EPS of $7.72. Seagate also guided to about $4.8 billion in fiscal second-quarter revenue, supporting the growth case. Earnings Beat Might Change The Case For Seagate Stock
• Positive Sentiment: Growth-focused commentary argues Seagate has attributes that could support above-market performance, adding to the bullish earnings narrative. The articles do not specify additional catalysts. 3 Reasons Growth Investors Will Love Seagate
• Negative Sentiment: A report attributed a sharp decline in Seagate shares to insider selling, which can raise concerns about insiders’ confidence, even though selling alone does not establish their outlook. Seagate Technology Stock Falls on Insider Selling
• Negative Sentiment: Seagate and other AI-linked stocks faced pressure amid a wider AI-trade selloff and calls from a lawmaker to pause advanced AI development. That uncertainty may temper enthusiasm around data-storage demand tied to AI investment. Seagate Sinks as Lawmaker Urges a Pause on Advanced AI Development

Analyst Upgrades and Downgrades

Several equities analysts have commented on STX shares. Barclays increased their price target on Seagate Technology from $1,000.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Robert W. Baird set a $1,350.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 28th. Wedbush reaffirmed an “outperform” rating and set a $1,000.00 price objective on shares of Seagate Technology in a report on Wednesday, October 28th. Evercore reaffirmed an “outperform” rating on shares of Seagate Technology in a report on Wednesday, October 28th. Finally, Cantor Fitzgerald lowered their target price on shares of Seagate Technology from $1,300.00 to $1,000.00 and set an “overweight” rating on the stock in a research note on Monday, October 26th. Twenty-three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,000.88.

Seagate Technology Company Profile

Seagate Technology develops and supplies data-storage products and solutions for businesses and consumers. Its portfolio includes hard disk drives (HDDs), solid-state drives, and storage systems designed for applications ranging from personal computing to large-scale data centers.

The company’s products support cloud and enterprise storage, network-attached storage, video surveillance, gaming, and other uses that require digital data to be stored and accessed. Seagate also offers data-management and storage services through its Lyve platform.

Founded in 1979, Seagate has a long history in the hard disk drive industry.