Mubadala Investment Co PJSC Purchases New Shares in Seagate Technology Holdings plc (NASDAQ:STX)

Mubadala Investment Co PJSC bought a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 38,945 shares of the data storage provider's stock, valued at approximately $3,361,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital Research Global Investors lifted its position in shares of Seagate Technology by 56.5% during the fourth quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider's stock valued at $1,348,262,000 after buying an additional 5,640,443 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Seagate Technology by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock valued at $2,414,446,000 after buying an additional 1,814,821 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Seagate Technology during the fourth quarter valued at about $77,341,000. Junto Capital Management LP purchased a new stake in shares of Seagate Technology during the fourth quarter valued at about $60,303,000. Finally, Janus Henderson Group PLC lifted its position in shares of Seagate Technology by 2,853.4% during the fourth quarter. Janus Henderson Group PLC now owns 670,976 shares of the data storage provider's stock valued at $57,925,000 after buying an additional 648,257 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Price Performance

NASDAQ:STX traded up $0.36 during midday trading on Friday, hitting $107.79. The company's stock had a trading volume of 3,233,263 shares, compared to its average volume of 2,915,595. Seagate Technology Holdings plc has a fifty-two week low of $63.19 and a fifty-two week high of $115.32. The firm's 50 day moving average is $84.56 and its 200-day moving average is $92.45. The firm has a market cap of $22.87 billion, a P/E ratio of 19.71 and a beta of 1.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.15. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the prior year, the company earned $0.33 EPS. Seagate Technology's quarterly revenue was up 30.5% on a year-over-year basis. As a group, analysts forecast that Seagate Technology Holdings plc will post 6.83 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Wednesday, June 25th will be paid a dividend of $0.72 per share. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.67%. Seagate Technology's payout ratio is 41.62%.

Wall Street Analyst Weigh In

Several analysts have commented on STX shares. Morgan Stanley decreased their price target on shares of Seagate Technology from $133.00 to $129.00 and set an "overweight" rating for the company in a research report on Tuesday, January 21st. Wedbush reaffirmed an "outperform" rating and issued a $140.00 price objective (down from $150.00) on shares of Seagate Technology in a research report on Wednesday, April 30th. UBS Group increased their price objective on shares of Seagate Technology from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $120.00 price objective on shares of Seagate Technology in a research report on Wednesday, January 22nd. Finally, Benchmark raised shares of Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 price objective for the company in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $114.11.

Insider Activity

In other news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the completion of the transaction, the chief executive officer now directly owns 555,677 shares of the company's stock, valued at $46,988,047.12. The trade was a 3.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.81% 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.