CCM Investment Advisers LLC Has $13.88 Million Stake in Seagate Technology Holdings plc (NASDAQ:STX)

CCM Investment Advisers LLC raised its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 1.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 134,395 shares of the data storage provider’s stock after buying an additional 1,993 shares during the period. Seagate Technology comprises approximately 1.6% of CCM Investment Advisers LLC’s investment portfolio, making the stock its 27th biggest holding. CCM Investment Advisers LLC owned approximately 0.06% of Seagate Technology worth $13,879,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Turtle Creek Wealth Advisors LLC bought a new position in shares of Seagate Technology in the 4th quarter valued at $28,000. Northwest Financial Advisors acquired a new stake in Seagate Technology during the fourth quarter worth approximately $31,000. Valley National Advisers Inc. grew its position in shares of Seagate Technology by 39.7% during the 4th quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock worth $43,000 after buying an additional 144 shares during the period. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Seagate Technology during the fourth quarter valued at about $44,000. Finally, ICA Group Wealth Management LLC bought a new position in Seagate Technology in the fourth quarter worth approximately $47,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on STX. Citigroup increased their price target on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Wedbush increased their target price on shares of Seagate Technology from $100.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Cantor Fitzgerald raised their target price on Seagate Technology from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Robert W. Baird raised their price target on Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $115.94.

Seagate Technology Stock Up 0.9 %

Shares of NASDAQ:STX traded up $0.83 during midday trading on Friday, reaching $96.28. The company’s stock had a trading volume of 1,463,549 shares, compared to its average volume of 2,662,160. The business has a 50 day moving average price of $101.72 and a 200 day moving average price of $93.93. Seagate Technology Holdings plc has a 1 year low of $62.43 and a 1 year high of $113.57. The firm has a market cap of $20.24 billion, a price-to-earnings ratio of -74.64 and a beta of 1.02.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.29. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. Seagate Technology’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.29) EPS. Sell-side analysts anticipate that Seagate Technology Holdings plc will post 6.21 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.91%. The ex-dividend date is Monday, September 23rd. Seagate Technology’s dividend payout ratio is presently -217.05%.

Insider Activity at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total value of $1,869,200.00. Following the completion of the sale, the chief executive officer now directly owns 654,270 shares in the company, valued at $61,148,074.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the sale, the chief executive officer now owns 654,270 shares in the company, valued at $61,148,074.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gianluca Romano sold 25,760 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $94.54, for a total transaction of $2,435,350.40. Following the sale, the chief financial officer now owns 52,620 shares of the company’s stock, valued at approximately $4,974,694.80. The disclosure for this sale can be found here. Insiders sold 82,250 shares of company stock worth $8,006,146 in the last quarter. 0.89% 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.