Seagate Technology Holdings plc (NASDAQ:STX) Shares Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC boosted its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 24,870.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,979 shares of the data storage provider’s stock after acquiring an additional 17,907 shares during the quarter. Acadian Asset Management LLC’s holdings in Seagate Technology were worth $1,853,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in STX. Capital Research Global Investors boosted its holdings in shares of Seagate Technology by 39.3% in the fourth quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock valued at $1,418,413,000 after acquiring an additional 4,685,454 shares in the last quarter. Norges Bank acquired a new position in shares of Seagate Technology during the 4th quarter valued at $188,834,000. Vanguard Group Inc. raised its stake in shares of Seagate Technology by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock worth $2,303,274,000 after buying an additional 746,395 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Seagate Technology by 83.2% in the fourth quarter. Wells Fargo & Company MN now owns 1,014,075 shares of the data storage provider’s stock valued at $86,572,000 after buying an additional 460,599 shares during the period. Finally, Sanders Capital LLC boosted its stake in Seagate Technology by 3.0% during the fourth quarter. Sanders Capital LLC now owns 15,486,153 shares of the data storage provider’s stock valued at $1,322,053,000 after buying an additional 443,768 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

Shares of STX stock opened at $102.13 on Friday. The firm has a market cap of $21.50 billion, a P/E ratio of -79.17 and a beta of 1.03. Seagate Technology Holdings plc has a fifty-two week low of $63.22 and a fifty-two week high of $113.57. The stock’s 50-day moving average is $101.44 and its two-hundred day moving average is $96.25.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the company earned ($0.29) earnings per share. The company’s revenue was up 17.8% compared to the same quarter last year. As a group, research analysts expect that Seagate Technology Holdings plc will post 6.72 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Monday, September 23rd. Seagate Technology’s payout ratio is -217.05%.

Analyst Ratings Changes

A number of brokerages have weighed in on STX. Cantor Fitzgerald upped their price target on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. TD Cowen raised their target price on shares of Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Bank of America reaffirmed a “buy” rating and issued a $110.00 price target on shares of Seagate Technology in a report on Wednesday, June 5th. Benchmark reissued a “hold” rating on shares of Seagate Technology in a research note on Wednesday, July 24th. Finally, Barclays boosted their price objective on Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $115.94.

Insider Buying and Selling

In other news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the transaction, the director now owns 3,034 shares of the company’s stock, valued at $291,567.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the transaction, the director now directly owns 3,034 shares in the company, valued at approximately $291,567.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the transaction, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,627 shares of company stock worth $5,489,495. 0.89% of the stock is currently owned by insiders.

Seagate Technology 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.