Public Sector Pension Investment Board Purchases 3,500 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Public Sector Pension Investment Board boosted its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 50.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,491 shares of the data storage provider’s stock after purchasing an additional 3,500 shares during the quarter. Public Sector Pension Investment Board’s holdings in Seagate Technology were worth $1,149,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Seagate Technology by 341.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider’s stock worth $143,370,000 after purchasing an additional 1,012,638 shares in the last quarter. Tybourne Capital Management HK Ltd. boosted its position in shares of Seagate Technology by 25.8% during the third quarter. Tybourne Capital Management HK Ltd. now owns 39,994 shares of the data storage provider’s stock valued at $4,381,000 after buying an additional 8,203 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Seagate Technology by 12.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,360 shares of the data storage provider’s stock worth $4,640,000 after buying an additional 4,711 shares in the last quarter. MetLife Investment Management LLC raised its position in Seagate Technology by 4.8% in the 3rd quarter. MetLife Investment Management LLC now owns 50,921 shares of the data storage provider’s stock valued at $5,577,000 after buying an additional 2,333 shares during the last quarter. Finally, CreativeOne Wealth LLC lifted its stake in Seagate Technology by 86.9% during the 3rd quarter. CreativeOne Wealth LLC now owns 5,999 shares of the data storage provider’s stock valued at $657,000 after acquiring an additional 2,790 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on STX. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd. Evercore ISI increased their price target on Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Rosenblatt Securities boosted their price objective on Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $118.83.

Seagate Technology Trading Up 0.3 %

Shares of STX stock opened at $98.51 on Friday. The firm’s 50 day moving average is $103.64 and its 200 day moving average is $102.08. The stock has a market capitalization of $20.84 billion, a P/E ratio of 25.72 and a beta of 1.03. Seagate Technology Holdings plc has a 12 month low of $78.10 and a 12 month 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 (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.28. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business’s quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.34) earnings per share. On average, 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 announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s payout ratio is presently 73.11%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $101.82, for a total value of $76,365.00. Following the transaction, the director now directly owns 6,555 shares in the company, valued at $667,430.10. This represents a 10.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ban Seng Teh sold 4,872 shares of Seagate Technology stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.00, for a total value of $535,920.00. Following the sale, the executive vice president now owns 9,969 shares of the company’s stock, valued at approximately $1,096,590. This trade represents a 32.83 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 221,820 shares of company stock valued at $23,953,746. 0.81% of the stock is currently owned by corporate insiders.

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.