Maverick Capital Ltd. Has $112.39 Million Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Maverick Capital Ltd. reduced its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 6.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,088,271 shares of the data storage provider’s stock after selling 78,345 shares during the period. Seagate Technology accounts for approximately 2.1% of Maverick Capital Ltd.’s investment portfolio, making the stock its 13th biggest position. Maverick Capital Ltd. owned approximately 0.52% of Seagate Technology worth $112,386,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Capital Research Global Investors boosted its stake in Seagate Technology by 39.3% in the 4th quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock valued at $1,418,413,000 after purchasing an additional 4,685,454 shares during the period. Vanguard Group Inc. boosted its position in shares of 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. Putnam Investments LLC grew its stake in shares of Seagate Technology by 124.3% in the fourth quarter. Putnam Investments LLC now owns 680,456 shares of the data storage provider’s stock valued at $58,091,000 after acquiring an additional 377,148 shares in the last quarter. Delta Global Management LP bought a new position in Seagate Technology during the first quarter worth about $33,478,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Seagate Technology in the 2nd quarter worth about $35,349,000. 92.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on STX shares. The Goldman Sachs Group lifted their price objective on Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Barclays boosted their target price on Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Evercore ISI raised their price target on shares of Seagate Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Northland Securities upped their price objective on shares of Seagate Technology from $119.00 to $142.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Loop Capital raised their target price on shares of Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $115.94.

Seagate Technology Stock Performance

Seagate Technology stock opened at $110.76 on Friday. Seagate Technology Holdings plc has a 52-week low of $63.88 and a 52-week high of $113.57. The stock’s 50 day moving average price is $101.25 and its two-hundred day moving average price is $96.90.

Seagate Technology (NASDAQ:STX) last posted its quarterly 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 the consensus estimate of $1.87 billion. During the same period in the previous year, the firm posted ($0.29) earnings per share. The business’s revenue was up 17.8% compared to the same quarter last year. Analysts anticipate that Seagate Technology Holdings plc will post 6.72 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.53%. The ex-dividend date is Monday, September 23rd. Seagate Technology’s payout ratio is currently -217.05%.

Insiders Place Their Bets

In other Seagate Technology news, EVP Ban Seng Teh sold 10,117 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the completion of the sale, the executive vice president now directly owns 5,387 shares of the company’s stock, valued at approximately $592,570. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Seagate Technology news, EVP Ban Seng Teh sold 10,117 shares of Seagate Technology stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the transaction, the executive vice president now directly owns 5,387 shares of the company’s stock, valued at approximately $592,570. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the 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 completion of the sale, the chief executive officer now owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,627 shares of company stock worth $5,489,495. Insiders own 0.89% of the company’s stock.

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.