125,206 Shares in Seagate Technology Holdings plc (NASDAQ:STX) Purchased by Voloridge Investment Management LLC

Voloridge Investment Management LLC bought a new position in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 125,206 shares of the data storage provider's stock, valued at approximately $10,807,000. Voloridge Investment Management LLC owned approximately 0.06% of Seagate Technology at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tidal Investments LLC boosted its stake in Seagate Technology by 133.1% in the fourth quarter. Tidal Investments LLC now owns 12,681 shares of the data storage provider's stock worth $1,094,000 after buying an additional 7,240 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake 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 buying an additional 4,229 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its stake in Seagate Technology by 87.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 8,578 shares of the data storage provider's stock worth $740,000 after buying an additional 4,014 shares in the last quarter. Norges Bank purchased a new stake in Seagate Technology in the fourth quarter worth approximately $25,729,000. Finally, Asset Management One Co. Ltd. boosted its stake in Seagate Technology by 9.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 84,222 shares of the data storage provider's stock worth $7,360,000 after buying an additional 7,599 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. 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. Morgan Stanley boosted their price objective on Seagate Technology from $99.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Wells Fargo & Company upped their target price on Seagate Technology from $105.00 to $122.00 and gave the company an "equal weight" rating in a report on Friday, May 23rd. Cantor Fitzgerald upped their target price on Seagate Technology from $110.00 to $125.00 and gave the company a "neutral" rating in a report on Monday, May 19th. Finally, Citigroup upped 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. One research 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, Seagate Technology has an average rating of "Moderate Buy" and an average price target of $118.89.

Seagate Technology Stock Down 0.1%

Shares of Seagate Technology stock traded down $0.08 during trading hours on Friday, hitting $118.07. 979,205 shares of the company's stock traded hands, compared to its average volume of 2,977,880. The stock has a 50 day simple moving average of $88.83 and a 200-day simple moving average of $93.09. The company has a market cap of $25.06 billion, a PE ratio of 21.59 and a beta of 1.32. Seagate Technology Holdings plc has a twelve month low of $63.19 and a twelve month high of $119.05.

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 net margin of 14.67% and a negative return on equity of 63.48%. The firm had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.14 billion. During the same quarter last year, the company posted $0.33 earnings per share. Seagate Technology's revenue was up 30.5% on a year-over-year basis. As a group, equities research 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 given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology's dividend payout ratio is 41.62%.

Seagate Technology declared that its board has authorized a share repurchase plan on Thursday, May 22nd that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the data storage provider to reacquire up to 21.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In related news, SVP Kian Fatt Chong sold 6,410 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $111.26, for a total value of $713,176.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Ban Seng Teh sold 4,201 shares of the 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 completion of the transaction, the executive vice president now owns 22,999 shares in the company, valued at $2,644,885. This represents a 15.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,057 shares of company stock valued at $11,685,976 in the last quarter. 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.