Seagate Technology Holdings plc (NASDAQ:STX) Shares Bought by Asset Dedication LLC

Asset Dedication LLC lifted its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 104.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 778 shares of the data storage provider’s stock after buying an additional 397 shares during the period. Asset Dedication LLC’s holdings in Seagate Technology were worth $80,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Capital Research Global Investors grew its stake 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 buying an additional 4,685,454 shares during the period. Norges Bank acquired a new stake in Seagate Technology in the 4th quarter valued at $188,834,000. Vanguard Group Inc. raised its position in Seagate Technology by 3.1% in the first quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock valued at $2,303,274,000 after purchasing an additional 746,395 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Seagate Technology by 83.2% during the fourth quarter. Wells Fargo & Company MN now owns 1,014,075 shares of the data storage provider’s stock worth $86,572,000 after purchasing an additional 460,599 shares in the last quarter. Finally, Mizuho Markets Americas LLC boosted its position in shares of Seagate Technology by 321.7% in the fourth quarter. Mizuho Markets Americas LLC now owns 586,120 shares of the data storage provider’s stock worth $50,037,000 after buying an additional 447,120 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STX has been the topic of several recent research reports. UBS Group boosted 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. Rosenblatt Securities upped their target price on shares of Seagate Technology from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Wedbush lifted their price target on shares of Seagate Technology from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Morgan Stanley upped their price objective on shares of Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Mizuho lifted their target price on Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Two 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 company currently has a consensus rating of “Hold” and a consensus price target of $115.94.

Seagate Technology Trading Up 3.4 %

Shares of NASDAQ STX opened at $101.34 on Tuesday. The business has a 50 day simple moving average of $101.47 and a 200-day simple moving average of $95.88. Seagate Technology Holdings plc has a twelve month low of $62.43 and a twelve month high of $113.57. The company has a market capitalization of $21.33 billion, a price-to-earnings ratio of -78.56 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, beating the consensus estimate 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 previous year, the firm earned ($0.29) earnings per share. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, equities 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. Shareholders of record on Monday, September 23rd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 2.76%. Seagate Technology’s dividend payout ratio is currently -217.05%.

Insiders Place Their Bets

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 stock was sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the completion of the transaction, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at $61,148,074.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the sale, the director now directly owns 3,034 shares in the company, valued at approximately $291,567.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were 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 directly owns 654,270 shares of the company’s stock, valued at $61,148,074.20. The disclosure for this sale can be found here. Insiders have sold 56,627 shares of company stock valued at $5,489,495 over the last quarter. Insiders own 0.89% of the company’s stock.

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.