UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 318,306 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 24.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,627,264 shares of the data storage provider's stock after purchasing an additional 318,306 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.77% of Seagate Technology worth $140,449,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Voloridge Investment Management LLC bought a new stake in Seagate Technology in the fourth quarter worth $10,807,000. Waverly Advisors LLC bought a new position in Seagate Technology during the fourth quarter worth about $226,000. Worldquant Millennium Advisors LLC raised its stake in Seagate Technology by 83.2% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 17,336 shares of the data storage provider's stock worth $1,496,000 after acquiring an additional 7,873 shares in the last quarter. Woodline Partners LP increased its holdings in shares of Seagate Technology by 430.3% during the fourth quarter. Woodline Partners LP now owns 452,496 shares of the data storage provider's stock worth $39,055,000 after buying an additional 367,160 shares in the last quarter. Finally, Vident Advisory LLC boosted its stake in Seagate Technology by 39.6% in the fourth quarter. Vident Advisory LLC now owns 8,571 shares of the data storage provider's stock worth $740,000 after purchasing an additional 2,432 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Seagate Technology

In related news, EVP Ban Seng Teh sold 4,201 shares of Seagate Technology stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $115.00, for a total transaction of $483,115.00. Following the transaction, the executive vice president now owns 22,999 shares of the company's stock, valued at $2,644,885. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were 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 of the company's stock, valued at approximately $46,988,047.12. This trade represents a 3.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,057 shares of company stock worth $11,685,976 in the last ninety days. 0.81% of the stock is currently owned by insiders.

Seagate Technology Stock Performance

STX stock traded down $0.64 during trading on Thursday, reaching $116.71. 810,845 shares of the company were exchanged, compared to its average volume of 2,981,559. Seagate Technology Holdings plc has a 52-week low of $63.19 and a 52-week high of $119.25. The company has a market cap of $24.77 billion, a P/E ratio of 21.34 and a beta of 1.32. The stock's 50 day moving average price is $88.25 and its 200 day moving average price is $92.97.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) 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 company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter last year, the company earned $0.33 earnings per share. Seagate Technology's revenue for the quarter was up 30.5% on a year-over-year basis. As a group, equities research analysts forecast that Seagate Technology Holdings plc will post 6.83 EPS for the current year.

Seagate Technology declared that its Board of Directors has authorized a share repurchase program on Thursday, May 22nd that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the data storage provider to purchase up to 21.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Seagate Technology Dividend Announcement

The company also recently announced 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. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a yield of 2.47%. Seagate Technology's payout ratio is presently 41.62%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wells Fargo & Company boosted their target price on Seagate Technology from $105.00 to $122.00 and gave the company an "equal weight" rating in a research note on Friday, May 23rd. Citigroup lifted their target price on Seagate Technology from $105.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Rosenblatt Securities reissued a "buy" rating and issued a $130.00 price target on shares of Seagate Technology in a research note on Friday, May 23rd. BNP Paribas raised Seagate Technology from a "strong sell" rating to a "hold" rating in a research report on Friday, May 16th. Finally, Barclays boosted their price target on shares of Seagate Technology from $80.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. One equities research 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 data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.89.

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.