Strategic Wealth Partners Ltd. Buys 40,169 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Strategic Wealth Partners Ltd. increased its position in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 121.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 73,378 shares of the data storage provider's stock after purchasing an additional 40,169 shares during the quarter. Strategic Wealth Partners Ltd.'s holdings in Seagate Technology were worth $6,333,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Research Global Investors grew its position 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 valued at $1,348,262,000 after acquiring an additional 5,640,443 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Seagate Technology by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock valued at $2,414,446,000 after acquiring an additional 1,814,821 shares during the period. Marshall Wace LLP acquired a new stake in shares of Seagate Technology in the 4th quarter valued at $77,341,000. Junto Capital Management LP bought a new stake in shares of Seagate Technology in the 4th quarter worth about $60,303,000. Finally, Janus Henderson Group PLC grew its holdings 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 worth $57,925,000 after purchasing an additional 648,257 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

Seagate Technology Stock Up 1.9%

NASDAQ STX traded up $2.12 on Friday, reaching $110.98. The company had a trading volume of 2,709,604 shares, compared to its average volume of 2,955,957. Seagate Technology Holdings plc has a 52 week low of $63.19 and a 52 week high of $115.32. The stock's 50 day moving average is $86.13 and its 200-day moving average is $92.66. The stock has a market cap of $23.55 billion, a price-to-earnings ratio of 20.33 and a beta of 1.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 63.48% and a net margin of 14.67%. The company's revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 EPS. As a group, analysts forecast that Seagate Technology Holdings plc will post 6.83 EPS for the current year.

Seagate Technology declared that its board has authorized a stock buyback plan on Thursday, May 22nd that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the data storage provider to reacquire up to 21.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Seagate Technology Dividend Announcement

The company 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 $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology's payout ratio is presently 41.62%.

Insiders Place Their Bets

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated 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 directly owns 555,677 shares in the company, valued at $46,988,047.12. This represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Mizuho cut their price target on shares of Seagate Technology from $115.00 to $95.00 and set an "outperform" rating for the company in a report on Thursday, April 10th. Wells Fargo & Company cut their target price on shares of Seagate Technology from $120.00 to $105.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Rosenblatt Securities reissued a "buy" rating and issued a $130.00 target price on shares of Seagate Technology in a report on Friday. Wall Street Zen upgraded Seagate Technology from a "hold" rating to a "buy" rating in a research report on Thursday. Finally, Citigroup raised their price target on Seagate Technology from $105.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Seagate Technology has a consensus rating of "Moderate Buy" and an average target price of $116.79.

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.