AQR Capital Management LLC Grows Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

AQR Capital Management LLC lifted its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 10.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 675,743 shares of the data storage provider's stock after purchasing an additional 63,142 shares during the period. AQR Capital Management LLC owned approximately 0.32% of Seagate Technology worth $58,323,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Seagate Technology by 9.5% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,834 shares of the data storage provider's stock worth $4,215,000 after purchasing an additional 4,229 shares during the last quarter. Kingswood Wealth Advisors LLC raised its holdings in shares of Seagate Technology by 87.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,578 shares of the data storage provider's stock valued at $740,000 after purchasing an additional 4,014 shares during the period. Norges Bank bought a new position in shares of Seagate Technology in the fourth quarter valued at about $25,729,000. Asset Management One Co. Ltd. grew its holdings in Seagate Technology by 9.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 84,222 shares of the data storage provider's stock valued at $7,360,000 after buying an additional 7,599 shares in the last quarter. Finally, Rheos Capital Works Inc. increased its stake in Seagate Technology by 2.5% during the 4th quarter. Rheos Capital Works Inc. now owns 331,500 shares of the data storage provider's stock worth $28,612,000 after acquiring an additional 8,000 shares during the period. Institutional investors own 92.87% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup decreased their price target on Seagate Technology from $115.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Benchmark upgraded Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 target price on the stock in a report on Wednesday, January 22nd. Mizuho dropped their target price on shares of Seagate Technology from $115.00 to $95.00 and set an "outperform" rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company dropped their price target on shares of Seagate Technology from $120.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Finally, Susquehanna increased their price target on Seagate Technology from $65.00 to $68.00 and gave the company a "negative" rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Seagate Technology presently has a consensus rating of "Moderate Buy" and an average target price of $114.89.

Seagate Technology Stock Up 3.4 %

Shares of Seagate Technology stock traded up $3.06 on Friday, hitting $93.07. The stock had a trading volume of 3,408,252 shares, compared to its average volume of 2,851,796. The stock's 50-day simple moving average is $83.26 and its two-hundred day simple moving average is $92.82. The stock has a market cap of $19.70 billion, a price-to-earnings ratio of 17.01 and a beta of 1.31. Seagate Technology Holdings plc has a one year low of $63.19 and a one year high of $115.32.

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

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology's dividend payout ratio (DPR) is 41.62%.

Insider Activity

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