Envestnet Asset Management Inc. Has $10.02 Million Position in Seagate Technology Holdings PLC (NASDAQ:STX)

Envestnet Asset Management Inc. increased its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 34.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 117,907 shares of the data storage provider's stock after buying an additional 30,461 shares during the period. Envestnet Asset Management Inc. owned 0.06% of Seagate Technology worth $10,016,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Seagate Technology by 6.9% in 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 buying an additional 1,814,821 shares during the last quarter. Sanders Capital LLC increased its holdings in 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 worth $1,426,717,000 after buying an additional 162,561 shares during the last quarter. Capital Research Global Investors increased its holdings in Seagate Technology by 56.5% in the fourth quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider's stock worth $1,348,262,000 after buying an additional 5,640,443 shares during the last quarter. Geode Capital Management LLC grew its holdings in 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 valued at $370,013,000 after purchasing an additional 132,713 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Seagate Technology by 14.6% during 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 last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Price Performance

Shares of STX stock opened at $149.07 on Monday. The stock has a market cap of $31.64 billion, a P/E ratio of 21.54 and a beta of 1.45. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $152.16. The stock has a fifty day moving average price of $129.38 and a 200 day moving average price of $103.60.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. The firm 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 105.02% and a net margin of 17.49%. Seagate Technology's quarterly revenue was up 30.5% compared to the same quarter last year. During the same period last year, the business earned $0.33 earnings per share. Equities research analysts anticipate that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology declared that its board has initiated a stock repurchase program on Thursday, May 22nd that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the data storage provider to repurchase up to 21.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th were given a $0.72 dividend. The ex-dividend date was Wednesday, June 25th. This represents a $2.88 annualized dividend and a yield of 1.93%. Seagate Technology's dividend payout ratio (DPR) is currently 41.62%.

Insider Buying and Selling

In other Seagate Technology news, EVP Ban Seng Teh sold 63,418 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $125.00, for a total transaction of $7,927,250.00. Following the completion of the transaction, the executive vice president directly owned 14,658 shares in the company, valued at $1,832,250. This represents a 81.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael R. Cannon sold 24,190 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $119.00, for a total value of $2,878,610.00. Following the transaction, the director owned 10,835 shares of the company's stock, valued at $1,289,365. This represents a 69.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 395,516 shares of company stock valued at $47,831,398. 0.81% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

STX has been the topic of several analyst reports. Citigroup increased their price target on Seagate Technology from $140.00 to $170.00 and gave the company a "buy" rating in a report on Friday, July 11th. UBS Group increased their price target on Seagate Technology from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Rosenblatt Securities reiterated a "buy" rating and set a $130.00 price target on shares of Seagate Technology in a report on Friday, May 23rd. Barclays increased their price target on Seagate Technology from $80.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Finally, Wells Fargo & Company increased their price target on Seagate Technology from $122.00 to $160.00 and gave the company an "equal weight" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $130.00.

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.

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