Seagate Technology Holdings plc (NASDAQ:STX) Position Increased by Hsbc Holdings PLC

Hsbc Holdings PLC grew its holdings in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 71.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 235,363 shares of the data storage provider's stock after buying an additional 98,208 shares during the period. Hsbc Holdings PLC owned 0.11% of Seagate Technology worth $20,275,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. State of Tennessee Department of Treasury boosted its holdings in Seagate Technology by 17.1% in the 4th quarter. State of Tennessee Department of Treasury now owns 62,067 shares of the data storage provider's stock valued at $5,357,000 after purchasing an additional 9,064 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Seagate Technology by 211.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 16,525 shares of the data storage provider's stock valued at $1,426,000 after buying an additional 11,214 shares in the last quarter. Mirabella Financial Services LLP increased its holdings in Seagate Technology by 137.8% during the 4th quarter. Mirabella Financial Services LLP now owns 54,565 shares of the data storage provider's stock valued at $4,710,000 after acquiring an additional 31,615 shares in the last quarter. MetLife Investment Management LLC raised its position in Seagate Technology by 2.6% during the fourth quarter. MetLife Investment Management LLC now owns 52,268 shares of the data storage provider's stock worth $4,511,000 after acquiring an additional 1,347 shares during the last quarter. Finally, Norinchukin Bank The grew its position in shares of Seagate Technology by 6.7% in the fourth quarter. Norinchukin Bank The now owns 8,887 shares of the data storage provider's stock valued at $767,000 after purchasing an additional 556 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 20,000 shares of the 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 completion of the transaction, the chief executive officer now owns 555,677 shares of the company's stock, valued at approximately $46,988,047.12. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.81% of the stock is owned by insiders.

Seagate Technology Trading Up 11.6 %

NASDAQ STX traded up $9.43 during trading hours on Wednesday, reaching $91.03. 11,876,996 shares of the company traded hands, compared to its average volume of 2,822,390. The company has a 50 day moving average of $83.79 and a two-hundred day moving average of $93.24. The stock has a market capitalization of $19.27 billion, a PE ratio of 16.64 and a beta of 1.21. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.15. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The firm had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.14 billion. During the same period last year, the business posted $0.33 earnings per share. The firm's revenue for the quarter was up 30.5% on a year-over-year basis. On average, equities research analysts anticipate that Seagate Technology Holdings plc will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

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 dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Wednesday, June 25th. Seagate Technology's payout ratio is 52.65%.

Analysts Set New Price Targets

A number of brokerages have commented on STX. Benchmark upgraded Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 target price on the stock in a report on Wednesday, January 22nd. Bank of America cut their price objective on shares of Seagate Technology from $130.00 to $112.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. Citigroup cut their price objective on shares of Seagate Technology from $115.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Susquehanna upped their price target on Seagate Technology from $65.00 to $68.00 and gave the stock a "negative" rating in a research note on Wednesday, January 22nd. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $120.00 price target on shares of Seagate Technology in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $114.89.

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.