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

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

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Seagate Technology by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock worth $2,414,446,000 after purchasing an additional 1,814,821 shares during the last quarter. Sanders Capital LLC grew its position in Seagate Technology by 1.0% during the fourth quarter. Sanders Capital LLC now owns 16,530,152 shares of the data storage provider's stock worth $1,426,717,000 after buying an additional 162,561 shares in the last quarter. Capital Research Global Investors increased its position in shares of Seagate Technology by 56.5% during 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 purchasing an additional 5,640,443 shares during the period. Geode Capital Management LLC increased its holdings in Seagate Technology by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 4,295,225 shares of the data storage provider's stock valued at $370,013,000 after buying an additional 132,713 shares during the period. Finally, Invesco Ltd. raised its position in Seagate Technology by 14.6% in the fourth quarter. Invesco Ltd. now owns 2,761,534 shares of the data storage provider's stock worth $238,348,000 after purchasing an additional 352,300 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on STX shares. Citigroup boosted their target price on shares of Seagate Technology from $105.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. BNP Paribas upgraded shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a research report on Friday, May 16th. Wall Street Zen raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Wedbush reiterated an "outperform" rating and issued a $140.00 price objective on shares of Seagate Technology in a research report on Wednesday, May 21st. Finally, Cantor Fitzgerald lifted their price objective on Seagate Technology from $110.00 to $125.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Seagate Technology has an average rating of "Moderate Buy" and a consensus price target of $118.89.

Seagate Technology Price Performance

Shares of Seagate Technology stock traded up $0.29 on Wednesday, hitting $117.34. The company had a trading volume of 4,072,216 shares, compared to its average volume of 2,990,457. Seagate Technology Holdings plc has a twelve month low of $63.19 and a twelve month high of $118.58. The stock has a 50-day moving average of $87.67 and a 200-day moving average of $92.80. The firm has a market capitalization of $24.90 billion, a P/E ratio of 21.45 and a beta of 1.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last released 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. The firm had revenue of $2.16 billion during the quarter, compared to analysts' expectations 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 quarter in the prior year, the company earned $0.33 EPS. Equities analysts predict that Seagate Technology Holdings plc will post 6.83 EPS for the current year.

Seagate Technology Announces Dividend

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 2.45%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology's payout ratio is 41.62%.

Seagate Technology announced that its Board of Directors has initiated a share repurchase program on Thursday, May 22nd that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the data storage provider to reacquire up to 21.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 70,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $109.47, for a total transaction of $7,662,900.00. Following the sale, the chief executive officer now directly owns 485,677 shares of the company's stock, valued at $53,167,061.19. The trade was a 12.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Judy Bruner sold 10,446 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $108.71, for a total transaction of $1,135,584.66. Following the transaction, the director now owns 12,268 shares of the company's stock, valued at approximately $1,333,654.28. This represents a 45.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 106,856 shares of company stock worth $11,202,861. Corporate insiders own 0.81% of the company's stock.

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.