Deutsche Bank AG Increases Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Deutsche Bank AG raised its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 53.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,130,761 shares of the data storage provider's stock after buying an additional 394,908 shares during the quarter. Deutsche Bank AG owned about 0.53% of Seagate Technology worth $97,596,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake 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 period. Sanders Capital LLC raised its holdings in Seagate Technology by 1.0% in the 4th quarter. Sanders Capital LLC now owns 16,530,152 shares of the data storage provider's stock valued at $1,426,717,000 after acquiring an additional 162,561 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Seagate Technology by 56.5% during the 4th quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider's stock worth $1,348,262,000 after purchasing an additional 5,640,443 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Seagate Technology by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 4,295,225 shares of the data storage provider's stock worth $370,013,000 after purchasing an additional 132,713 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Seagate Technology by 14.6% in the fourth quarter. Invesco Ltd. now owns 2,761,534 shares of the data storage provider's stock valued at $238,348,000 after purchasing an additional 352,300 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Stock Performance

Shares of STX opened at $95.71 on Monday. Seagate Technology Holdings plc has a one year low of $63.19 and a one year high of $115.32. The stock has a 50-day moving average price of $82.82 and a 200 day moving average price of $92.19. The company has a market capitalization of $20.26 billion, a P/E ratio of 17.50 and a beta of 1.32.

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, beating the consensus estimate of $1.75 by $0.15. The company had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.14 billion. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The business's revenue was up 30.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 EPS. As a group, equities research analysts forecast that Seagate Technology Holdings plc will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Wednesday, June 25th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology's payout ratio is currently 41.62%.

Insider Activity

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 555,677 shares of the company's stock, valued at approximately $46,988,047.12. This represents 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 at the SEC website. Company insiders own 0.81% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on STX. StockNews.com lowered Seagate Technology from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Benchmark raised shares of Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 target price on the stock in a research report on Wednesday, January 22nd. Summit Insights raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a research report on Wednesday, January 22nd. Rosenblatt Securities reiterated a "buy" rating and issued a $130.00 price target on shares of Seagate Technology in a report on Wednesday, April 30th. Finally, Wedbush reissued an "outperform" rating and set a $140.00 price objective (down from $150.00) on shares of Seagate Technology in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $114.89.

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.

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