Free Trial

Lifeworks Advisors LLC Grows Position in Seagate Technology Holdings PLC (NASDAQ:STX)

Seagate Technology logo with Computer and Technology background

Lifeworks Advisors LLC raised its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 246.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,961 shares of the data storage provider's stock after purchasing an additional 17,754 shares during the period. Lifeworks Advisors LLC's holdings in Seagate Technology were worth $2,120,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in STX. Vanguard Group Inc. lifted its stake in shares of 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 in the last quarter. Sanders Capital LLC increased its position in Seagate Technology by 1.0% during 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 purchasing an additional 162,561 shares during the last quarter. Capital Research Global Investors increased its position in 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 worth $1,348,262,000 after purchasing an additional 5,640,443 shares during the last quarter. Geode Capital Management LLC increased its position 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 worth $370,013,000 after purchasing an additional 132,713 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of 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 acquiring an additional 352,300 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Trading Down 1.2%

NASDAQ:STX traded down $1.84 on Friday, reaching $150.89. 3,125,852 shares of the stock traded hands, compared to its average volume of 3,798,525. The firm has a market capitalization of $32.02 billion, a price-to-earnings ratio of 21.80 and a beta of 1.45. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $153.88. The company's 50 day moving average is $133.87 and its 200-day moving average is $105.51.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share for the quarter, beating the consensus estimate 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 negative return on equity of 105.02% and a net margin of 17.49%. The business's revenue was up 30.5% on a year-over-year basis. During the same period last year, the business earned $0.33 EPS. On average, equities research analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology declared that its board has authorized a share repurchase plan on Thursday, May 22nd that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the data storage provider to reacquire up to 21.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are 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 of this dividend was Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a yield of 1.91%. Seagate Technology's payout ratio is 41.62%.

Insider Transactions at Seagate Technology

In related news, Director Michael R. Cannon sold 24,190 shares of the company's 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 sale, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephanie Tilenius sold 2,693 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $128.04, for a total value of $344,811.72. Following the completion of the sale, the director directly owned 12,244 shares in the company, valued at approximately $1,567,721.76. This represents a 18.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 395,516 shares of company stock worth $47,831,398. 0.81% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wedbush restated an "outperform" rating and set a $140.00 price objective on shares of Seagate Technology in a research report on Wednesday, May 21st. Barclays upped their price target on shares of 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 lowered their target price on shares of Seagate Technology from $115.00 to $95.00 and set an "outperform" rating for the company in a research note on Thursday, April 10th. BNP Paribas Exane raised shares of Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 price target for the company in a report on Friday, May 16th. Finally, Morgan Stanley boosted their price target on shares of Seagate Technology from $140.00 to $167.00 and gave the company an "overweight" rating in a report on Monday, July 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, Seagate Technology presently has an average rating of "Moderate Buy" and an average target price of $134.38.

Read Our Latest Report on Seagate Technology

Seagate Technology Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

Should You Invest $1,000 in Seagate Technology Right Now?

Before you consider Seagate Technology, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Seagate Technology wasn't on the list.

While Seagate Technology currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Metaverse Stocks And Why You Can't Ignore Them Cover

Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 “Boring” Mega Cap Stocks to Turn Into Pure Profit
Joby vs. Archer: The $10 Billion eVTOL Battle
3 Small-Cap Biotech Stocks With Catalysts Too Big to Ignore

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines