Twinbeech Capital LP Buys New Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Twinbeech Capital LP bought a new position in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 313,953 shares of the data storage provider's stock, valued at approximately $27,097,000. Twinbeech Capital LP owned 0.15% of Seagate Technology at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Seagate Technology by 9.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,834 shares of the data storage provider's stock worth $4,215,000 after purchasing an additional 4,229 shares during the period. Kingswood Wealth Advisors LLC lifted its holdings in shares of Seagate Technology by 87.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 8,578 shares of the data storage provider's stock valued at $740,000 after acquiring an additional 4,014 shares during the period. Norges Bank bought a new position in shares of Seagate Technology during the fourth quarter valued at $25,729,000. Asset Management One Co. Ltd. lifted its holdings in shares of Seagate Technology by 9.9% during the fourth quarter. Asset Management One Co. Ltd. now owns 84,222 shares of the data storage provider's stock valued at $7,360,000 after acquiring an additional 7,599 shares during the period. Finally, Rheos Capital Works Inc. lifted its holdings in shares of Seagate Technology by 2.5% during the fourth quarter. Rheos Capital Works Inc. now owns 331,500 shares of the data storage provider's stock valued at $28,612,000 after acquiring an additional 8,000 shares during the period. 92.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on STX shares. UBS Group lifted their price objective on Seagate Technology from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Northland Securities reissued an "outperform" rating and set a $160.00 price objective (up from $144.00) on shares of Seagate Technology in a report on Wednesday, January 22nd. Benchmark raised Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 price objective for the company in a report on Wednesday, January 22nd. Summit Insights raised Seagate Technology from a "hold" rating to a "buy" rating in a report on Wednesday, January 22nd. Finally, BNP Paribas raised 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $114.11.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 20,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the completion of the transaction, the chief executive officer now directly owns 555,677 shares in the company, valued at approximately $46,988,047.12. The trade was a 3.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.81% of the company's stock.

Seagate Technology Stock Up 0.3%

Shares of STX stock opened at $107.79 on Monday. The stock has a 50-day moving average price of $84.56 and a 200 day moving average price of $92.35. The firm has a market cap of $22.87 billion, a price-to-earnings ratio of 19.71 and a beta of 1.32. Seagate Technology Holdings plc has a 12 month low of $63.19 and a 12 month high of $115.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data 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. The firm 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 was up 30.5% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. Sell-side analysts predict that Seagate Technology Holdings plc will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be given a $0.72 dividend. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a yield of 2.67%. Seagate Technology's payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.