Seagate Technology Holdings plc (NASDAQ:STX) Shares Purchased by Sanders Capital LLC

Sanders Capital LLC increased its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,367,591 shares of the data storage provider’s stock after purchasing an additional 150,115 shares during the period. Seagate Technology makes up 2.6% of Sanders Capital LLC’s holdings, making the stock its 13th biggest position. Sanders Capital LLC owned approximately 7.74% of Seagate Technology worth $1,792,742,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STX. Point72 Hong Kong Ltd purchased a new stake in Seagate Technology in the 2nd quarter worth approximately $35,349,000. Duquesne Family Office LLC boosted its holdings in Seagate Technology by 22.0% during the second quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock worth $181,268,000 after buying an additional 316,295 shares in the last quarter. Mizuho Markets Americas LLC acquired a new stake in Seagate Technology during the third quarter valued at $32,598,000. AQR Capital Management LLC increased its holdings in Seagate Technology by 519.1% in the second quarter. AQR Capital Management LLC now owns 323,401 shares of the data storage provider’s stock valued at $33,398,000 after buying an additional 271,160 shares in the last quarter. Finally, Liontrust Investment Partners LLP acquired a new position in shares of Seagate Technology in the second quarter worth about $24,635,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $110.18, for a total value of $15,621,871.30. Following the sale, the chief executive officer now directly owns 668,616 shares of the company’s stock, valued at approximately $73,668,110.88. The trade was a 17.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the company’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 transaction of $72,075.00. Following the completion of the transaction, the director now owns 3,034 shares in the company, valued at approximately $291,567.40. This represents a 19.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,820 shares of company stock worth $21,892,856. Company insiders own 0.81% of the company’s stock.

Seagate Technology Stock Up 1.1 %

Shares of STX opened at $102.46 on Tuesday. Seagate Technology Holdings plc has a 52-week low of $76.30 and a 52-week high of $115.32. The stock has a fifty day simple moving average of $104.69 and a two-hundred day simple moving average of $101.86. The company has a market capitalization of $21.67 billion, a PE ratio of 26.46 and a beta of 1.05.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. Seagate Technology’s quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.34) earnings per share. As a group, equities analysts anticipate that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a yield of 2.81%. Seagate Technology’s dividend payout ratio is currently 73.11%.

Analyst Ratings Changes

Several equities analysts recently weighed in on STX shares. Northland Securities lifted their price target on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Rosenblatt Securities increased their target price on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wedbush reissued an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. Finally, Evercore ISI increased their price objective on shares of Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $118.83.

About Seagate Technology

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.