ARS Investment Partners LLC Buys Shares of 74,675 Seagate Technology Holdings plc (NASDAQ:STX)

ARS Investment Partners LLC bought a new position in Seagate Technology Holdings plc (NASDAQ:STX) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 74,675 shares of the data storage provider’s stock, valued at approximately $6,445,000.

Other large investors have also bought and sold shares of the company. Crossmark Global Holdings Inc. lifted its holdings in Seagate Technology by 3.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 11,122 shares of the data storage provider’s stock valued at $960,000 after purchasing an additional 388 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Seagate Technology by 46.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,266 shares of the data storage provider’s stock valued at $109,000 after purchasing an additional 404 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Seagate Technology by 37.6% in the fourth quarter. UMB Bank n.a. now owns 852 shares of the data storage provider’s stock worth $74,000 after buying an additional 233 shares in the last quarter. Diversify Advisory Services LLC lifted its holdings in shares of Seagate Technology by 95.4% in the fourth quarter. Diversify Advisory Services LLC now owns 3,507 shares of the data storage provider’s stock worth $312,000 after buying an additional 1,712 shares in the last quarter. Finally, My Legacy Advisors LLC lifted its holdings in shares of Seagate Technology by 3.9% in the fourth quarter. My Legacy Advisors LLC now owns 3,113 shares of the data storage provider’s stock worth $294,000 after buying an additional 118 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on STX. Citigroup raised their target price on shares of Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company reduced their price target on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Cantor Fitzgerald reiterated a “neutral” rating and set a $125.00 price target on shares of Seagate Technology in a research report on Wednesday, October 23rd. Mizuho reduced their price target on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Finally, The Goldman Sachs Group reduced their price target on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $120.94.

Seagate Technology Stock Up 2.7 %

Seagate Technology stock opened at $97.67 on Tuesday. The business has a 50-day simple moving average of $94.32 and a two-hundred day simple moving average of $100.28. The company has a market cap of $20.66 billion, a P/E ratio of 25.50 and a beta of 1.06. Seagate Technology Holdings plc has a 52-week low of $82.31 and a 52-week high of $115.32.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The firm’s revenue was up 49.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.34) EPS. Research analysts anticipate that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Kian Fatt Chong sold 9,182 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $105.50, for a total transaction of $968,701.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total value of $76,365.00. Following the sale, the director now owns 6,555 shares in the company, valued at $667,430.10. The trade was a 10.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,173 shares of company stock valued at $5,529,679. Corporate insiders own 0.81% of the company’s stock.

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.