HighVista Strategies LLC Acquires 5,000 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

HighVista Strategies LLC raised its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 39.1% in the second quarter, Holdings Channel reports. The firm owned 17,800 shares of the data storage provider’s stock after purchasing an additional 5,000 shares during the period. HighVista Strategies LLC’s holdings in Seagate Technology were worth $1,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Jump Financial LLC purchased a new stake in Seagate Technology in the 4th quarter worth about $226,000. UBS Group AG lifted its stake in shares of Seagate Technology by 29.9% during the 4th quarter. UBS Group AG now owns 495,150 shares of the data storage provider’s stock valued at $42,271,000 after buying an additional 113,886 shares in the last quarter. Coldstream Capital Management Inc. bought a new position in Seagate Technology in the 4th quarter worth approximately $211,000. Corient Private Wealth LLC grew its stake in Seagate Technology by 5.0% in the 4th quarter. Corient Private Wealth LLC now owns 21,696 shares of the data storage provider’s stock valued at $1,852,000 after buying an additional 1,030 shares in the last quarter. Finally, US Bancorp DE raised its holdings in Seagate Technology by 3.0% during the 4th quarter. US Bancorp DE now owns 17,757 shares of the data storage provider’s stock valued at $1,516,000 after acquiring an additional 519 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Performance

Seagate Technology stock opened at $104.74 on Monday. Seagate Technology Holdings plc has a fifty-two week low of $63.32 and a fifty-two week high of $113.57. The stock has a market cap of $21.99 billion, a price-to-earnings ratio of -81.19 and a beta of 1.03. The stock’s 50 day simple moving average is $101.15 and its two-hundred day simple moving average is $96.54.

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

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 2.67%. Seagate Technology’s dividend payout ratio (DPR) is currently -217.05%.

Insider Buying and Selling

In other news, CFO Gianluca Romano sold 25,760 shares of Seagate Technology stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $94.54, for a total transaction of $2,435,350.40. Following the completion of the transaction, the chief financial officer now directly owns 52,620 shares in the company, valued at $4,974,694.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 654,270 shares in the company, valued at approximately $61,148,074.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Gianluca Romano sold 25,760 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 52,620 shares of the company’s stock, valued at $4,974,694.80. The disclosure for this sale can be found here. Insiders have sold 56,627 shares of company stock valued at $5,489,495 over the last quarter. Corporate insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, July 24th. Morgan Stanley upped their target price on Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Bank of America reissued a “buy” rating and set a $110.00 price objective on shares of Seagate Technology in a report on Wednesday, June 5th. Mizuho raised their target price on shares of Seagate Technology from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, Evercore ISI increased their price target on shares of Seagate Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Two 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. Based on data from MarketBeat.com, Seagate Technology has a consensus rating of “Hold” and an average target price of $115.94.

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.