Nordea Investment Management AB Has $1.35 Million Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Nordea Investment Management AB grew its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,555 shares of the data storage provider’s stock after acquiring an additional 856 shares during the quarter. Nordea Investment Management AB’s holdings in Seagate Technology were worth $1,349,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Sanders Capital LLC boosted its holdings in shares of Seagate Technology by 0.9% in the 3rd quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider’s stock valued at $1,792,742,000 after buying an additional 150,115 shares during the last quarter. State Street Corp boosted its holdings in shares of Seagate Technology by 6.8% in the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock valued at $937,081,000 after buying an additional 541,585 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Seagate Technology by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock valued at $454,477,000 after buying an additional 318,416 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Seagate Technology by 29.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock valued at $197,844,000 after buying an additional 405,232 shares during the last quarter. Finally, 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 buying an additional 316,295 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Stock Performance

Shares of STX stock opened at $88.87 on Monday. The company has a market cap of $18.80 billion, a P/E ratio of 23.20 and a beta of 1.06. The stock has a 50 day simple moving average of $95.35 and a two-hundred day simple moving average of $100.64. Seagate Technology Holdings plc has a fifty-two week low of $79.39 and a fifty-two week high of $115.32.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.30 by $0.28. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the company posted ($0.34) earnings per share. The company’s quarterly revenue was up 49.1% on a year-over-year basis. On average, research analysts predict that Seagate Technology Holdings plc will post 7.18 earnings per share for the current year.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Sunday, December 15th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.24%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, December 13th. Seagate Technology’s dividend payout ratio is presently 75.20%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $150.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. Cantor Fitzgerald reiterated a “neutral” rating and set a $125.00 price objective on shares of Seagate Technology in a research report on Wednesday, October 23rd. Citigroup raised their price target on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group decreased their price target on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and a consensus price target of $121.53.

Insider Transactions at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.53, for a total value of $1,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 642,497 shares of the company’s stock, valued at approximately $63,947,726.41. This represents a 3.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kian Fatt Chong sold 9,182 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $105.50, for a total value of $968,701.00. The disclosure for this sale can be found here. Insiders have sold 55,304 shares of company stock valued at $5,656,238 over the last ninety days. 0.81% of the stock is owned by company 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.