XTX Topco Ltd Raises Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

XTX Topco Ltd boosted its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 667.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,906 shares of the data storage provider’s stock after buying 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 SEC.

A number of other large investors have also recently bought and sold shares of STX. Family Firm Inc. purchased a new stake in shares of Seagate Technology during the second quarter worth about $41,000. ICA Group Wealth Management LLC purchased a new stake in Seagate Technology in the 4th quarter worth approximately $47,000. Richardson Financial Services Inc. acquired a new position in Seagate Technology in the 4th quarter valued at $47,000. Larson Financial Group LLC lifted its stake in shares of Seagate Technology by 15,766.7% during the 2nd quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock worth $49,000 after purchasing an additional 473 shares during the period. Finally, Viking Fund Management LLC boosted its holdings in shares of Seagate Technology by 722.2% during the first quarter. Viking Fund Management LLC now owns 740 shares of the data storage provider’s stock worth $69,000 after purchasing an additional 650 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Transactions at Seagate Technology

In related news, EVP Ban Seng Teh sold 10,117 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total value of $1,112,870.00. Following the completion of the transaction, the executive vice president now owns 5,387 shares of the company’s stock, valued at $592,570. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Ban Seng Teh sold 10,117 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total value of $1,112,870.00. Following the sale, the executive vice president now directly owns 5,387 shares of the company’s stock, valued at $592,570. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $72,075.00. Following the transaction, 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 ninety days, insiders have sold 56,627 shares of company stock valued at $5,489,495. 0.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on STX shares. Northland Securities upped their target price on Seagate Technology from $119.00 to $142.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Wedbush increased their price objective on shares of Seagate Technology from $100.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Cantor Fitzgerald boosted their target price on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Barclays increased their price target on shares of Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Finally, UBS Group boosted their price objective on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $115.94.

Seagate Technology Stock Performance

Shares of NASDAQ:STX opened at $104.12 on Friday. The business’s 50-day simple moving average is $101.20 and its 200 day simple moving average is $96.50. The company has a market cap of $21.92 billion, a P/E ratio of -80.71 and a beta of 1.03. Seagate Technology Holdings plc has a one year low of $63.32 and a one year high of $113.57.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.29. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.29) earnings per share. Analysts predict that Seagate Technology Holdings plc will post 6.72 earnings per share for the current year.

Seagate Technology Announces Dividend

The firm also recently announced 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. The ex-dividend date is Monday, September 23rd. This represents a $2.80 annualized dividend and a dividend yield of 2.69%. 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.