ProShare Advisors LLC Buys 3,869 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

ProShare Advisors LLC grew its stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 7.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,821 shares of the data storage provider's stock after purchasing an additional 3,869 shares during the quarter. ProShare Advisors LLC's holdings in Seagate Technology were worth $4,818,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Research Global Investors raised its stake 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 in the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 acquiring an additional 1,814,821 shares during the period. Marshall Wace LLP bought a new position in shares of Seagate Technology in the 4th quarter worth approximately $77,341,000. Junto Capital Management LP bought a new position in shares of Seagate Technology in the 4th quarter worth approximately $60,303,000. Finally, Janus Henderson Group PLC lifted its stake in shares of Seagate Technology by 2,853.4% in the 4th quarter. Janus Henderson Group PLC now owns 670,976 shares of the data storage provider's stock valued at $57,925,000 after purchasing an additional 648,257 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wells Fargo & Company reduced their price target on Seagate Technology from $120.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Northland Securities reiterated an "outperform" rating and issued a $160.00 price target (up from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. Cantor Fitzgerald lifted their price target on shares of Seagate Technology from $110.00 to $125.00 and gave the company a "neutral" rating in a research report on Monday. Bank of America cut their price objective on shares of Seagate Technology from $130.00 to $112.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Finally, BNP Paribas upgraded shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $114.37.

Insider Buying and Selling at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total value of $1,691,200.00. Following the completion of the sale, 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 legal filing with the SEC, which is available at this link. Company insiders own 0.81% of the company's stock.

Seagate Technology Stock Performance

NASDAQ STX opened at $109.04 on Tuesday. 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 of $85.01 and a 200 day moving average of $92.42. The company has a market capitalization of $23.14 billion, a price-to-earnings ratio of 19.93 and a beta of 1.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly 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 net margin of 14.67% and a negative return on equity of 63.48%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the business posted $0.33 earnings per share. The business's revenue for the quarter was up 30.5% on a year-over-year basis. On average, equities analysts predict 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. Shareholders of record on Wednesday, June 25th will be paid a dividend of $0.72 per share. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a yield of 2.64%. Seagate Technology's dividend payout ratio is presently 41.62%.

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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