Nisa Investment Advisors LLC Boosts Stock Holdings in Seagate Technology Holdings PLC (NASDAQ:STX)

Nisa Investment Advisors LLC lifted its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 17.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,230 shares of the data storage provider's stock after purchasing an additional 5,920 shares during the period. Nisa Investment Advisors LLC's holdings in Seagate Technology were worth $3,447,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of STX. Capital Research Global Investors increased its stake in 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 buying an additional 5,640,443 shares in the last quarter. Vanguard Group Inc. increased its stake in Seagate Technology by 6.9% during the 4th 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. Marshall Wace LLP purchased a new stake in Seagate Technology during the 4th quarter worth approximately $77,341,000. Junto Capital Management LP purchased a new stake in Seagate Technology during the 4th quarter worth approximately $60,303,000. Finally, Janus Henderson Group PLC increased its stake in Seagate Technology by 2,853.4% during the 4th quarter. Janus Henderson Group PLC now owns 670,976 shares of the data storage provider's stock worth $57,925,000 after buying an additional 648,257 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 63,418 shares of the company's 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gianluca Romano sold 26,816 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $117.58, for a total value of $3,153,025.28. Following the transaction, the chief financial officer owned 38,082 shares in the company, valued at $4,477,681.56. This trade represents a 41.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 393,791 shares of company stock valued at $47,582,998 over the last three months. 0.81% of the stock is currently owned by company insiders.

Seagate Technology Price Performance

STX traded up $2.68 during trading hours on Friday, reaching $147.18. The company's stock had a trading volume of 2,868,540 shares, compared to its average volume of 3,248,448. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $152.16. The stock has a market cap of $31.23 billion, a PE ratio of 21.27 and a beta of 1.45. The business's 50-day moving average is $124.06 and its 200-day moving average is $101.35.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.75 by $0.15. Seagate Technology had a negative return on equity of 105.02% and a net margin of 17.49%. 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 firm's quarterly revenue was up 30.5% on a year-over-year basis. Analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology announced that its board has authorized a share repurchase program on Thursday, May 22nd that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the data storage provider to reacquire up to 21.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Wednesday, June 25th. Seagate Technology's dividend payout ratio (DPR) is 41.62%.

Wall Street Analysts Forecast Growth

STX has been the subject of several research reports. Citigroup boosted their price objective on Seagate Technology from $140.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday. BNP Paribas upgraded Seagate Technology from a "strong sell" rating to a "hold" rating in a research note on Friday, May 16th. Wells Fargo & Company boosted their price objective on Seagate Technology from $105.00 to $122.00 and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. UBS Group boosted their price objective on Seagate Technology from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Finally, Wall Street Zen lowered Seagate Technology from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $125.53.

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.