Seagate Technology Holdings plc (NASDAQ:STX) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. boosted its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 1.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,006,681 shares of the data storage provider’s stock after purchasing an additional 425,117 shares during the quarter. Vanguard Group Inc. owned approximately 11.46% of Seagate Technology worth $2,049,450,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in Seagate Technology by 9.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock worth $1,166,022,000 after acquiring an additional 1,485,937 shares during the period. Capital Research Global Investors boosted its position in Seagate Technology by 39.3% during the 4th quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock worth $1,418,413,000 after acquiring an additional 4,685,454 shares during the period. Sanders Capital LLC boosted its position in Seagate Technology by 3.0% during 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. Wellington Management Group LLP boosted its position in Seagate Technology by 3.0% during the 3rd quarter. Wellington Management Group LLP now owns 4,381,497 shares of the data storage provider’s stock worth $288,960,000 after acquiring an additional 127,214 shares during the period. Finally, Invesco Ltd. boosted its position in Seagate Technology by 0.4% during the 3rd quarter. Invesco Ltd. now owns 2,804,277 shares of the data storage provider’s stock worth $184,942,000 after acquiring an additional 10,697 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Price Performance

NASDAQ:STX opened at $105.99 on Wednesday. Seagate Technology Holdings plc has a 1-year low of $57.32 and a 1-year high of $107.91. The business’s fifty day moving average price is $92.43 and its 200 day moving average price is $88.94.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. The firm’s quarterly revenue was down 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.43) earnings per share. Analysts predict that Seagate Technology Holdings plc will post 0.44 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.64%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s payout ratio is -217.05%.

Insider Activity at Seagate Technology

In other Seagate Technology news, SVP John Christopher Morris sold 5,928 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $99.99, for a total value of $592,740.72. Following the transaction, the senior vice president now directly owns 12,185 shares of the company’s stock, valued at approximately $1,218,378.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Seagate Technology news, SVP John Christopher Morris sold 5,928 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $99.99, for a total value of $592,740.72. Following the transaction, the senior vice president now directly owns 12,185 shares of the company’s stock, valued at approximately $1,218,378.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Ban Seng Teh sold 10,742 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $100.00, for a total value of $1,074,200.00. Following the completion of the transaction, the executive vice president now directly owns 5,042 shares in the company, valued at $504,200. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,531 shares of company stock valued at $3,592,946. Company insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

STX has been the subject of several research analyst reports. Bank of America restated a “buy” rating and issued a $110.00 price objective on shares of Seagate Technology in a report on Wednesday, June 5th. UBS Group upped their price objective on Seagate Technology from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. The Goldman Sachs Group upped their price objective on Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Loop Capital upped their price objective on Seagate Technology from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Finally, Susquehanna upped their price objective on Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Seagate Technology has a consensus rating of “Hold” and an average price target of $98.29.

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.