Bayesian Capital Management LP Buys 11,789 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Bayesian Capital Management LP boosted its holdings in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 84.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,693 shares of the data storage provider's stock after purchasing an additional 11,789 shares during the quarter. Bayesian Capital Management LP's holdings in Seagate Technology were worth $2,218,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of STX. Vanguard Group Inc. increased 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 worth $2,414,446,000 after acquiring an additional 1,814,821 shares in the last quarter. Sanders Capital LLC lifted its holdings in shares of Seagate Technology by 1.0% in the fourth quarter. Sanders Capital LLC now owns 16,530,152 shares of the data storage provider's stock valued at $1,426,717,000 after purchasing an additional 162,561 shares in the last quarter. Capital Research Global Investors boosted 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. Geode Capital Management LLC raised its position in Seagate Technology by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 4,295,225 shares of the data storage provider's stock valued at $370,013,000 after buying an additional 132,713 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Seagate Technology by 14.6% during the 4th quarter. Invesco Ltd. now owns 2,761,534 shares of the data storage provider's stock worth $238,348,000 after acquiring an additional 352,300 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Stock Performance

Shares of Seagate Technology stock traded up $0.90 during trading on Thursday, hitting $96.35. The company's stock had a trading volume of 2,392,690 shares, compared to its average volume of 2,870,455. Seagate Technology Holdings plc has a 52 week low of $63.19 and a 52 week high of $115.32. The company has a market capitalization of $20.40 billion, a PE ratio of 17.61 and a beta of 1.32. The company has a fifty day simple moving average of $82.86 and a two-hundred day simple moving average of $92.58.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its earnings results on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.75 by $0.15. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The firm had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.14 billion. During the same period in the prior year, the firm posted $0.33 earnings per share. The company's quarterly revenue was up 30.5% on a year-over-year basis. As a group, analysts predict that Seagate Technology Holdings plc will post 6.83 EPS for the current 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 2.99%. The ex-dividend date is Wednesday, June 25th. Seagate Technology's dividend payout ratio (DPR) is 41.62%.

Insider Activity at Seagate Technology

In other Seagate Technology 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 transaction, the chief executive officer now owns 555,677 shares of the company's stock, valued at $46,988,047.12. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on STX. Northland Securities reaffirmed an "outperform" rating and issued a $160.00 price objective (up from $144.00) on shares of Seagate Technology in a research report on Wednesday, January 22nd. Wells Fargo & Company decreased their price target on Seagate Technology from $120.00 to $105.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. Barclays boosted their price objective on Seagate Technology from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Mizuho dropped their price target on Seagate Technology from $115.00 to $95.00 and set an "outperform" rating on the stock in a research report on Thursday, April 10th. Finally, Summit Insights upgraded Seagate Technology from a "hold" rating to a "buy" rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $114.89.

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.