Nordea Investment Management AB Buys 856 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Nordea Investment Management AB increased its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,555 shares of the data storage provider’s stock after acquiring an additional 856 shares during the quarter. Nordea Investment Management AB’s holdings in Seagate Technology were worth $1,349,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in Seagate Technology by 133.8% in the 3rd quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock valued at $18,834,000 after buying an additional 98,418 shares during the period. Versor Investments LP acquired a new stake in shares of Seagate Technology in the 3rd quarter valued at $2,146,000. Lighthouse Investment Partners LLC acquired a new stake in shares of Seagate Technology in the 2nd quarter valued at $499,000. Forte Capital LLC ADV boosted its stake in shares of Seagate Technology by 29.8% in the 3rd quarter. Forte Capital LLC ADV now owns 28,972 shares of the data storage provider’s stock valued at $3,173,000 after purchasing an additional 6,653 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Seagate Technology by 3,549.7% in the 3rd quarter. International Assets Investment Management LLC now owns 204,493 shares of the data storage provider’s stock valued at $22,398,000 after purchasing an additional 198,890 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Insider Activity

In related news, Director Jay L. Geldmacher sold 4,100 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $103.30, for a total transaction of $423,530.00. Following the completion of the sale, the director now directly owns 2,852 shares of the company’s stock, valued at approximately $294,611.60. This represents a 58.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total value of $76,365.00. Following the sale, the director now directly owns 6,555 shares of the company’s stock, valued at approximately $667,430.10. The trade was a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,304 shares of company stock valued at $5,656,238 in the last ninety days. 0.81% of the stock is owned by insiders.

Seagate Technology Trading Up 0.2 %

Shares of NASDAQ:STX opened at $88.87 on Monday. The stock has a market capitalization of $18.80 billion, a P/E ratio of 23.20 and a beta of 1.06. Seagate Technology Holdings plc has a 1-year low of $79.39 and a 1-year high of $115.32. The business has a 50-day moving average price of $95.35 and a two-hundred day moving average price of $100.64.

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

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Sunday, December 15th were paid a $0.72 dividend. The ex-dividend date was 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 dividend yield of 3.24%. Seagate Technology’s dividend payout ratio is 75.20%.

Analyst Upgrades and Downgrades

STX has been the topic of several recent analyst reports. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Evercore ISI boosted their target price on shares of Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Mizuho reduced their target price on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday. The Goldman Sachs Group reduced their target price on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Rosenblatt Securities upped their price target on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.53.

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.