Forsta AP Fonden Has $4.93 Million Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Forsta AP Fonden increased its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 10.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 45,000 shares of the data storage provider’s stock after acquiring an additional 4,200 shares during the period. Forsta AP Fonden’s holdings in Seagate Technology were worth $4,929,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake 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 acquiring an additional 746,395 shares during the period. Clearbridge Investments LLC grew its position in Seagate Technology by 14.5% during the first quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock worth $247,218,000 after buying an additional 337,464 shares in the last quarter. Duquesne Family Office LLC boosted its holdings in shares of Seagate Technology by 22.0% in the 2nd quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock valued at $181,268,000 after purchasing an additional 316,295 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Seagate Technology by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,019,657 shares of the data storage provider’s stock valued at $105,306,000 after acquiring an additional 9,062 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Seagate Technology by 6.2% during the 1st quarter. Russell Investments Group Ltd. now owns 688,996 shares of the data storage provider’s stock worth $64,130,000 after purchasing an additional 40,100 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $101.32 on Tuesday. The company has a market cap of $21.28 billion, a P/E ratio of -78.54 and a beta of 1.04. The firm’s fifty day moving average is $105.16 and its two-hundred day moving average is $99.83. Seagate Technology Holdings plc has a 52-week low of $66.93 and a 52-week high of $115.32.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm posted ($0.34) EPS. The business’s quarterly revenue was up 49.1% on a year-over-year basis. As a group, analysts forecast that Seagate Technology Holdings plc will post 7.35 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. Stockholders of record on Sunday, December 15th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is an increase 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 2.84%. Seagate Technology’s payout ratio is -223.26%.

Insider Transactions at Seagate Technology

In related news, Director Jay L. Geldmacher sold 4,100 shares of Seagate Technology stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $103.30, for a total transaction of $423,530.00. Following the completion of the transaction, the director now directly owns 2,852 shares of the company’s stock, valued at approximately $294,611.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO William D. Mosley sold 141,785 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the completion of the sale, the chief executive officer now owns 668,616 shares of the company’s stock, valued at $73,668,110.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jay L. Geldmacher sold 4,100 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 2,852 shares of the company’s stock, valued at approximately $294,611.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,398 shares of company stock worth $23,238,106 in the last three months. Insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on STX shares. Wedbush reissued an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a research report on Wednesday, October 23rd. Evercore ISI lifted their price target on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Benchmark reissued a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Loop Capital upped their target price on shares of Seagate Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company upped their price target on shares of Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.83.

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.