Siemens Fonds Invest GmbH boosted its position in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 116.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,392 shares of the data storage provider's stock after purchasing an additional 2,367 shares during the period. Siemens Fonds Invest GmbH's holdings in Seagate Technology were worth $379,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of STX. Capital Research Global Investors increased its stake in Seagate Technology by 56.5% in the 4th 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 purchasing an additional 5,640,443 shares in the last quarter. Vanguard Group Inc. increased its stake in Seagate Technology by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock valued at $2,414,446,000 after purchasing an additional 1,814,821 shares in the last quarter. Marshall Wace LLP purchased a new position in Seagate Technology in the 4th quarter valued at approximately $77,341,000. Junto Capital Management LP acquired a new stake in Seagate Technology during the 4th quarter valued at $60,303,000. Finally, Janus Henderson Group PLC grew its holdings 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 valued at $57,925,000 after buying an additional 648,257 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.
Seagate Technology Stock Down 0.3%
Shares of NASDAQ STX traded down $0.34 during midday trading on Friday, hitting $117.80. The stock had a trading volume of 4,352,617 shares, compared to its average volume of 2,991,397. Seagate Technology Holdings plc has a 1-year low of $63.19 and a 1-year high of $119.13. The company has a market capitalization of $25.00 billion, a price-to-earnings ratio of 21.54 and a beta of 1.32. The company has a fifty day moving average price of $89.43 and a 200 day moving average price of $93.18.
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. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The business had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.14 billion. During the same quarter in the previous year, the business earned $0.33 EPS. The company's revenue for the quarter was up 30.5% on a year-over-year basis. On average, research analysts forecast that Seagate Technology Holdings plc will post 6.83 EPS for the current year.
Seagate Technology Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.44%. The ex-dividend date is Wednesday, June 25th. Seagate Technology's dividend payout ratio (DPR) is presently 41.62%.
Seagate Technology declared that its Board of Directors has initiated a stock buyback program on Thursday, May 22nd that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the data storage provider to repurchase up to 21.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.
Analyst Ratings Changes
A number of brokerages have commented on STX. Rosenblatt Securities reiterated a "buy" rating and set a $130.00 target price on shares of Seagate Technology in a report on Friday, May 23rd. Bank of America increased their target price on Seagate Technology from $125.00 to $135.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Wall Street Zen cut Seagate Technology from a "buy" rating to a "hold" rating in a report on Friday. Citigroup increased their target price on Seagate Technology from $105.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Finally, Barclays increased their target price on Seagate Technology from $80.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $118.89.
Check Out Our Latest Analysis on STX
Insider Buying and Selling at Seagate Technology
In other news, SVP Kian Fatt Chong sold 6,410 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $111.26, for a total transaction of $713,176.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total value of $1,691,200.00. Following the completion of the transaction, the chief executive officer now owns 555,677 shares of the company's stock, valued at approximately $46,988,047.12. The trade was a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 162,891 shares of company stock valued at $17,773,863 over the last three months. 0.81% of the stock is owned by company insiders.
Seagate Technology Company Profile
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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.
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