Vanguard Group Inc. Raises Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Vanguard Group Inc. grew its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,753,076 shares of the data storage provider’s stock after buying an additional 746,395 shares during the quarter. Vanguard Group Inc. owned approximately 0.12% of Seagate Technology worth $2,303,274,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of STX. Capital Research Global Investors increased its position in 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 worth $1,418,413,000 after buying an additional 4,685,454 shares in the last quarter. Norges Bank bought a new position in shares of Seagate Technology in the fourth quarter worth about $188,834,000. Wells Fargo & Company MN boosted its stake 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 worth $86,572,000 after acquiring an additional 460,599 shares during the period. Mizuho Markets Americas LLC boosted its stake in shares of Seagate Technology by 321.7% in the fourth quarter. Mizuho Markets Americas LLC now owns 586,120 shares of the data storage provider’s stock worth $50,037,000 after acquiring an additional 447,120 shares during the period. Finally, Sanders Capital LLC boosted its stake in shares of Seagate Technology by 3.0% in the fourth 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. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Citigroup upped their price objective on Seagate Technology from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Morgan Stanley raised Seagate Technology from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $73.00 to $115.00 in a research note on Tuesday, March 26th. Susquehanna upped their price objective on Seagate Technology from $50.00 to $55.00 and gave the stock a “negative” rating in a research note on Wednesday, April 10th. Benchmark reissued a “hold” rating on shares of Seagate Technology in a research note on Wednesday, April 24th. Finally, Barclays dropped their price target on Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Seagate Technology has a consensus rating of “Hold” and a consensus price target of $100.94.

Insider Transactions at Seagate Technology

In other news, EVP Ban Seng Teh sold 9,703 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total value of $921,785.00. Following the sale, the executive vice president now directly owns 15,185 shares in the company, valued at $1,442,575. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Ban Seng Teh sold 9,703 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total value of $921,785.00. Following the sale, the executive vice president now directly owns 15,185 shares in the company, valued at $1,442,575. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP John Christopher Morris sold 5,928 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $99.99, for a total value of $592,740.72. Following the completion of the sale, the senior vice president now owns 12,185 shares in the company, valued at $1,218,378.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,531 shares of company stock worth $3,592,946. 0.89% of the stock is currently owned by company insiders.

Seagate Technology Stock Performance

STX stock traded down $0.84 during midday trading on Friday, reaching $102.63. 1,977,279 shares of the company traded hands, compared to its average volume of 1,794,165. Seagate Technology Holdings plc has a 52-week low of $57.32 and a 52-week high of $109.63. The business has a 50 day moving average of $100.37 and a 200-day moving average of $92.28. The firm has a market capitalization of $21.55 billion, a price-to-earnings ratio of -79.56 and a beta of 1.02.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the company earned ($0.43) earnings per share. The company’s revenue for the quarter was down 11.0% on a year-over-year basis. Research analysts anticipate that Seagate Technology Holdings plc will post 0.44 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Thursday, June 20th were issued a $0.70 dividend. The ex-dividend date was Thursday, June 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.73%. Seagate Technology’s payout ratio is -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.