Seagate Technology Holdings PLC (NASDAQ:STX) Shares Bought by Readystate Asset Management LP

Readystate Asset Management LP boosted its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 7.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,439 shares of the data storage provider's stock after purchasing an additional 2,824 shares during the quarter. Readystate Asset Management LP's holdings in Seagate Technology were worth $3,605,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new position in shares of Seagate Technology during the 4th quarter valued at approximately $26,000. Elequin Capital LP purchased a new stake in shares of Seagate Technology during the fourth quarter valued at $27,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Seagate Technology during the fourth quarter valued at $27,000. Wayfinding Financial LLC purchased a new stake in shares of Seagate Technology during the first quarter valued at $31,000. Finally, Golden State Wealth Management LLC boosted its stake in shares of Seagate Technology by 2,200.0% during the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock valued at $39,000 after purchasing an additional 440 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Seagate Technology news, Director Stephanie Tilenius sold 2,693 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $128.04, for a total transaction of $344,811.72. Following the sale, the director directly owned 12,244 shares of the company's stock, valued at approximately $1,567,721.76. This trade represents a 18.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $144.66, for a total transaction of $2,893,200.00. Following the sale, the chief executive officer directly owned 498,710 shares in the company, valued at approximately $72,143,388.60. The trade was a 3.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 395,516 shares of company stock valued at $47,831,398. Company insiders own 0.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on STX shares. Wells Fargo & Company boosted their target price on shares of Seagate Technology from $122.00 to $160.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. The Goldman Sachs Group began coverage on Seagate Technology in a research report on Thursday, July 10th. They set a "buy" rating and a $170.00 target price for the company. Cantor Fitzgerald lifted their target price on Seagate Technology from $110.00 to $125.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Barclays boosted their price target on Seagate Technology from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Finally, Bank of America boosted their price target on Seagate Technology from $145.00 to $165.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $134.38.

Seagate Technology Stock Performance

STX stock traded down $2.01 during midday trading on Friday, reaching $150.72. The stock had a trading volume of 2,278,750 shares, compared to its average volume of 3,947,593. The stock has a market cap of $31.99 billion, a PE ratio of 21.79 and a beta of 1.45. The firm has a fifty day simple moving average of $133.01 and a two-hundred day simple moving average of $105.09. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $153.88.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.75 by $0.15. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. Seagate Technology had a negative return on equity of 105.02% and a net margin of 17.49%. The firm's quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. On average, sell-side analysts predict that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 22nd that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the data storage provider to buy up to 21.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.91%. The ex-dividend date was Wednesday, June 25th. Seagate Technology's dividend payout ratio is currently 41.62%.

Seagate Technology 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.