Canada Pension Plan Investment Board Acquires 9,658 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Canada Pension Plan Investment Board raised its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 96,580.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,668 shares of the data storage provider’s stock after acquiring an additional 9,658 shares during the period. Canada Pension Plan Investment Board’s holdings in Seagate Technology were worth $998,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Capital Research Global Investors raised its position in Seagate Technology by 39.3% during 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 purchasing an additional 4,685,454 shares in the last quarter. Vanguard Group Inc. boosted its stake in Seagate Technology by 3.1% in the first 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. Putnam Investments LLC grew its position in Seagate Technology by 124.3% during the fourth quarter. Putnam Investments LLC now owns 680,456 shares of the data storage provider’s stock valued at $58,091,000 after acquiring an additional 377,148 shares during the last quarter. Delta Global Management LP purchased a new position in shares of Seagate Technology during the first quarter worth approximately $33,478,000. Finally, Clearbridge Investments LLC lifted its holdings in shares of Seagate Technology by 14.5% in the 1st quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock worth $247,218,000 after acquiring an additional 337,464 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

Shares of NASDAQ:STX opened at $108.74 on Friday. The firm has a market capitalization of $22.89 billion, a P/E ratio of -84.29 and a beta of 1.03. The stock has a 50 day moving average price of $101.37 and a 200-day moving average price of $97.02. Seagate Technology Holdings plc has a 52-week low of $63.88 and a 52-week high of $113.57.

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

Seagate Technology Announces Dividend

The firm 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 dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.57%. The ex-dividend date is Monday, September 23rd. Seagate Technology’s payout ratio is currently -217.05%.

Analyst Ratings Changes

A number of brokerages recently commented on STX. StockNews.com cut shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Citigroup boosted their target price on Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group raised their price target on Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Mizuho boosted their price objective on Seagate Technology from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, Morgan Stanley raised their target price on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $115.94.

Insiders Place Their Bets

In other news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the sale, the director now directly owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Ban Seng Teh sold 10,117 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the sale, the executive vice president now owns 5,387 shares in the company, valued at $592,570. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Yolanda Lee Conyers sold 750 shares of the 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 sale, the director now owns 3,034 shares in the company, valued at $291,567.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 203,284 shares of company stock worth $21,647,287. 0.89% of the stock is currently owned by company 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.