Los Angeles Capital Management LLC Purchases 124,523 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Los Angeles Capital Management LLC grew its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 157.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 203,580 shares of the data storage provider’s stock after buying an additional 124,523 shares during the quarter. Los Angeles Capital Management LLC owned 0.10% of Seagate Technology worth $21,024,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Northwest Financial Advisors purchased a new stake in Seagate Technology in the 4th quarter valued at about $31,000. Family Firm Inc. purchased a new stake in shares of Seagate Technology in the second quarter valued at approximately $41,000. CarsonAllaria Wealth Management Ltd. bought a new position in Seagate Technology in the fourth quarter worth approximately $44,000. ICA Group Wealth Management LLC purchased a new position in Seagate Technology during the 4th quarter worth $47,000. Finally, Richardson Financial Services Inc. bought a new stake in Seagate Technology during the 4th quarter valued at $47,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

STX has been the topic of several research reports. Susquehanna raised their price target on Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a research note on Wednesday, July 24th. Evercore ISI raised their target price on shares of Seagate Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Robert W. Baird increased their price objective on shares of Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. UBS Group lifted their price objective on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group upped their target price on Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $115.94.

Seagate Technology Stock Down 2.8 %

STX opened at $97.98 on Friday. The company has a market cap of $20.57 billion, a P/E ratio of -75.95 and a beta of 1.03. Seagate Technology Holdings plc has a 52-week low of $62.43 and a 52-week high of $113.57. The firm’s 50-day moving average price is $101.47 and its 200-day moving average price is $95.81.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.76 by $0.29. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate 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 firm posted ($0.29) earnings per share. On average, research analysts anticipate that Seagate Technology Holdings plc will post 6.72 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 23rd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Monday, September 23rd. Seagate Technology’s dividend payout ratio (DPR) is currently -217.05%.

Insider Transactions at Seagate Technology

In related news, CFO Gianluca Romano sold 25,760 shares of Seagate Technology 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 completion of the transaction, the chief financial officer now directly owns 52,620 shares in the company, valued at $4,974,694.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the transaction, the chief executive officer now owns 654,270 shares in the company, valued at $61,148,074.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gianluca Romano sold 25,760 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $94.54, for a total value of $2,435,350.40. Following the transaction, the chief financial officer now owns 52,620 shares in the company, valued at approximately $4,974,694.80. The disclosure for this sale can be found here. Insiders have sold 73,297 shares of company stock worth $7,156,436 over the last 90 days. 0.89% of the stock is currently owned by company insiders.

Seagate Technology Company 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.