Seagate Technology Holdings plc (NASDAQ:STX) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC increased its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 338.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,411 shares of the data storage provider’s stock after purchasing an additional 87,566 shares during the quarter. Intech Investment Management LLC owned 0.05% of Seagate Technology worth $11,712,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of STX. Vanguard Group Inc. grew its position in Seagate Technology by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock worth $2,303,274,000 after purchasing an additional 746,395 shares during the period. Capital Research Global Investors grew its holdings in Seagate Technology by 39.3% during the fourth 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 raised its position in Seagate Technology by 3.0% during the fourth quarter. Sanders Capital LLC now owns 15,486,153 shares of the data storage provider’s stock valued at $1,322,053,000 after acquiring an additional 443,768 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Seagate Technology by 14.5% in the first quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock valued at $247,218,000 after acquiring an additional 337,464 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Seagate Technology by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,019,657 shares of the data storage provider’s stock worth $105,306,000 after purchasing an additional 9,062 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total value of $1,869,200.00. Following the transaction, the chief executive officer now owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total value of $1,869,200.00. Following the transaction, the chief executive officer now directly owns 654,270 shares in the company, valued at approximately $61,148,074.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Gianluca Romano sold 25,760 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $94.54, for a total transaction of $2,435,350.40. Following the transaction, the chief financial officer now directly owns 52,620 shares of the company’s stock, valued at approximately $4,974,694.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,627 shares of company stock worth $5,489,495. Company insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on STX shares. Citigroup boosted their target price on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald increased their target price on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. TD Cowen lifted their price target on Seagate Technology from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. UBS Group increased their price target on Seagate Technology from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group boosted their price objective on Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Two 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $115.94.

Seagate Technology Stock Performance

NASDAQ STX opened at $104.74 on Friday. Seagate Technology Holdings plc has a fifty-two week low of $63.32 and a fifty-two week high of $113.57. The firm has a market capitalization of $22.05 billion, a P/E ratio of -81.19 and a beta of 1.03. The stock’s fifty day moving average is $101.15 and its two-hundred day moving average is $96.54.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.29. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the firm posted ($0.29) earnings per share. Seagate Technology’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, sell-side analysts forecast that Seagate Technology Holdings plc will post 6.72 EPS for the current year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s dividend payout ratio is presently -217.05%.

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.