Fisher Asset Management LLC Makes New $320,000 Investment in Seagate Technology Holdings plc (NASDAQ:STX)

Fisher Asset Management LLC acquired a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,922 shares of the data storage provider’s stock, valued at approximately $320,000.

A number of other hedge funds have also modified their holdings of STX. Point72 Hong Kong Ltd acquired a new stake in Seagate Technology during the 2nd quarter worth about $35,349,000. Duquesne Family Office LLC raised its holdings in shares of 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 valued at $181,268,000 after acquiring an additional 316,295 shares during the period. Mizuho Markets Americas LLC purchased a new stake in shares of Seagate Technology in the 3rd quarter valued at approximately $32,598,000. AQR Capital Management LLC boosted its stake in Seagate Technology by 519.1% in the 2nd quarter. AQR Capital Management LLC now owns 323,401 shares of the data storage provider’s stock worth $33,398,000 after purchasing an additional 271,160 shares during the period. Finally, Liontrust Investment Partners LLP purchased a new position in Seagate Technology during the 2nd quarter worth approximately $24,635,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on STX. Benchmark restated a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Northland Securities increased their price objective on Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Rosenblatt Securities lifted their target price on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wedbush reissued an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a research report on Wednesday, October 23rd. Finally, Evercore ISI boosted their price objective on shares of Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $118.83.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $101.33 on Monday. The stock has a market capitalization of $21.43 billion, a P/E ratio of 26.46 and a beta of 1.05. The business has a 50-day moving average of $104.51 and a two-hundred day moving average of $102.01. Seagate Technology Holdings plc has a fifty-two week low of $76.87 and a fifty-two week high of $115.32.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.28. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.34) EPS. As a group, research analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be paid a dividend of $0.72 per share. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.88 annualized dividend and a yield of 2.84%. Seagate Technology’s dividend payout ratio is presently 73.11%.

Insider Buying and Selling at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the sale, the chief executive officer now directly owns 642,497 shares of the company’s stock, valued at $63,947,726.41. This trade represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kian Fatt Chong sold 9,182 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $105.50, for a total value of $968,701.00. The disclosure for this sale can be found here. Insiders have sold 201,820 shares of company stock valued at $21,892,856 in the last 90 days. 0.81% of the stock is currently owned by insiders.

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.