Seagate Technology Holdings plc (NASDAQ:STX) Stake Boosted by XTX Topco Ltd

XTX Topco Ltd raised its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 667.2% in the 2nd quarter, Holdings Channel reports. The firm owned 17,906 shares of the data storage provider’s stock after purchasing an additional 15,572 shares during the quarter. XTX Topco Ltd’s holdings in Seagate Technology were worth $1,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Bessemer Group Inc. boosted its position in Seagate Technology by 68.7% during the 1st quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock valued at $1,634,000 after purchasing an additional 7,150 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Seagate Technology by 2.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock valued at $24,011,000 after acquiring an additional 6,044 shares during the period. Chapin Davis Inc. grew its position in shares of Seagate Technology by 210.8% during the first quarter. Chapin Davis Inc. now owns 29,152 shares of the data storage provider’s stock worth $2,713,000 after acquiring an additional 19,773 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Seagate Technology by 1.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 136,111 shares of the data storage provider’s stock worth $11,620,000 after acquiring an additional 1,419 shares during the last quarter. Finally, Sanders Capital LLC increased its holdings in shares of Seagate Technology by 3.0% in the 4th quarter. Sanders Capital LLC now owns 15,486,153 shares of the data storage provider’s stock worth $1,322,053,000 after acquiring an additional 443,768 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Citigroup boosted their target price on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Robert W. Baird increased their price objective on Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. StockNews.com cut Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Barclays boosted their price target on Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Finally, Evercore ISI raised their price target on Seagate Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $115.94.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 20,000 shares of the company’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 completion of the sale, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at $61,148,074.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction 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 document filed with the SEC, which is available through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction 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 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. Insiders have sold 56,627 shares of company stock worth $5,489,495 in the last three months. 0.89% of the stock is currently owned by insiders.

Seagate Technology Trading Up 3.2 %

Shares of NASDAQ STX opened at $104.12 on Friday. Seagate Technology Holdings plc has a twelve month low of $63.32 and a twelve month high of $113.57. The firm has a 50-day moving average of $101.20 and a two-hundred day moving average of $96.50. The company has a market capitalization of $21.92 billion, a price-to-earnings ratio of -80.71 and a beta of 1.03.

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

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders 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 dividend yield of 2.69%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s dividend payout ratio is presently -217.05%.

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.