E Fund Management Co. Ltd. Makes New Investment in Seagate Technology Holdings plc (NASDAQ:STX)

E Fund Management Co. Ltd. acquired a new stake in Seagate Technology Holdings plc (NASDAQ:STX) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,258 shares of the data storage provider’s stock, valued at approximately $233,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Capital Research Global Investors grew its holdings in Seagate Technology by 39.3% in 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 purchasing an additional 4,685,454 shares during the period. Norges Bank acquired a new stake in shares of Seagate Technology in the 4th quarter valued at about $188,834,000. Vanguard Group Inc. increased its position in Seagate Technology by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock valued at $2,303,274,000 after buying an additional 746,395 shares in the last quarter. Wells Fargo & Company MN raised its stake in Seagate Technology by 83.2% during the 4th quarter. Wells Fargo & Company MN now owns 1,014,075 shares of the data storage provider’s stock worth $86,572,000 after buying an additional 460,599 shares during the period. Finally, Sanders Capital LLC boosted its holdings in Seagate Technology by 3.0% in the fourth quarter. Sanders Capital LLC now owns 15,486,153 shares of the data storage provider’s stock worth $1,322,053,000 after acquiring an additional 443,768 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

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 Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the sale, the director now directly owns 3,034 shares of the company’s stock, valued at $291,567.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the sale, the director now owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 10,117 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total value of $1,112,870.00. Following the sale, the executive vice president now owns 5,387 shares in the company, valued at approximately $592,570. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,627 shares of company stock worth $5,489,495. 0.89% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

STX has been the topic of a number of research reports. Barclays upped their target price on Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. StockNews.com cut shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Morgan Stanley upped their target price on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. TD Cowen lifted their price target on Seagate Technology from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Bank of America reissued a “buy” rating and issued a $110.00 price objective on shares of Seagate Technology in a research note on Wednesday, June 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $115.94.

Seagate Technology Stock Performance

NASDAQ STX opened at $104.12 on Friday. The company has a market capitalization of $21.92 billion, a PE ratio of -80.71 and a beta of 1.03. Seagate Technology Holdings plc has a 52-week low of $63.32 and a 52-week high of $113.57. The company has a 50-day simple moving average of $101.20 and a 200 day simple moving average of $96.50.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the business posted ($0.29) EPS. Seagate Technology’s quarterly revenue was up 17.8% compared to the same quarter last year. As a group, analysts forecast that Seagate Technology Holdings plc will post 6.72 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 23rd will be given a dividend of $0.70 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.69%. Seagate Technology’s dividend payout ratio is presently -217.05%.

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.