Teza Capital Management LLC Increases Position in Seagate Technology Holdings plc (NASDAQ:STX)

Teza Capital Management LLC raised its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 757.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,926 shares of the data storage provider's stock after purchasing an additional 49,405 shares during the quarter. Seagate Technology accounts for about 0.7% of Teza Capital Management LLC's holdings, making the stock its 18th biggest holding. Teza Capital Management LLC's holdings in Seagate Technology were worth $4,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. JFS Wealth Advisors LLC boosted its holdings in shares of Seagate Technology by 27.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock worth $46,000 after purchasing an additional 113 shares in the last quarter. Human Investing LLC bought a new stake in Seagate Technology in the 4th quarter worth approximately $48,000. Mizuho Bank Ltd. boosted its stake in Seagate Technology by 140.0% in the fourth quarter. Mizuho Bank Ltd. now owns 600 shares of the data storage provider's stock worth $52,000 after buying an additional 350 shares in the last quarter. Johnson Financial Group Inc. grew its position in Seagate Technology by 22.7% during the fourth quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider's stock valued at $52,000 after acquiring an additional 112 shares during the last quarter. Finally, S.A. Mason LLC bought a new position in Seagate Technology during the fourth quarter valued at approximately $55,000. 92.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO William D. Mosley sold 20,000 shares of the company's 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 sale, the chief executive officer now directly owns 555,677 shares of the company's stock, valued at $46,988,047.12. This represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.81% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on STX shares. Wall Street Zen upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating in a report on Thursday. BNP Paribas upgraded shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a research report on Friday, May 16th. Barclays boosted their price target on shares of Seagate Technology from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Wedbush reaffirmed an "outperform" rating and set a $140.00 price objective on shares of Seagate Technology in a research note on Wednesday. Finally, Cantor Fitzgerald boosted their target price on Seagate Technology from $110.00 to $125.00 and gave the company a "neutral" rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $118.37.

Seagate Technology Stock Up 2.4%

Shares of STX traded up $2.61 during mid-day trading on Friday, hitting $111.47. 2,895,252 shares of the company's stock traded hands, compared to its average volume of 2,956,511. The firm has a market capitalization of $23.65 billion, a P/E ratio of 20.35 and a beta of 1.32. The business's 50-day moving average price is $86.13 and its 200-day moving average price is $92.66. Seagate Technology Holdings plc has a 1 year low of $63.19 and a 1 year high of $115.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.14 billion. During the same quarter in the previous year, the business posted $0.33 earnings per share. The firm's revenue for the quarter was up 30.5% compared to the same quarter last year. Sell-side analysts anticipate that Seagate Technology Holdings plc will post 6.83 earnings per share for the current fiscal year.

Seagate Technology declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 22nd that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the data storage provider to reacquire up to 21.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its stock is undervalued.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Wednesday, June 25th. Seagate Technology's payout ratio is currently 41.62%.

Seagate Technology Company 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.