Junto Capital Management LP Makes New $60.30 Million Investment in Seagate Technology Holdings plc (NASDAQ:STX)

Junto Capital Management LP bought a new position in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 698,681 shares of the data storage provider's stock, valued at approximately $60,303,000. Seagate Technology accounts for approximately 1.2% of Junto Capital Management LP's investment portfolio, making the stock its 29th biggest holding. Junto Capital Management LP owned 0.33% of Seagate Technology as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital Research Global Investors raised its holdings 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 acquiring an additional 5,640,443 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Seagate Technology by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock valued at $2,414,446,000 after buying an additional 1,814,821 shares during the period. Marshall Wace LLP purchased a new stake in Seagate Technology in the fourth quarter worth about $77,341,000. National Pension Service bought a new stake in Seagate Technology during the 4th quarter valued at approximately $43,436,000. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Seagate Technology by 176.6% during the 4th quarter. Los Angeles Capital Management LLC now owns 741,592 shares of the data storage provider's stock worth $64,007,000 after acquiring an additional 473,484 shares during the period. 92.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on STX shares. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $120.00 price target on shares of Seagate Technology in a research note on Wednesday, January 22nd. Mizuho dropped their price objective on shares of Seagate Technology from $115.00 to $95.00 and set an "outperform" rating on the stock in a research note on Thursday, April 10th. Rosenblatt Securities reaffirmed a "buy" rating and set a $130.00 target price on shares of Seagate Technology in a research note on Wednesday, April 30th. Wedbush reissued an "outperform" rating and issued a $140.00 price target (down from $150.00) on shares of Seagate Technology in a research report on Wednesday, April 30th. Finally, Summit Insights upgraded Seagate Technology from a "hold" rating to a "buy" rating in a research note on Wednesday, January 22nd. One equities research 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's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $114.89.

Seagate Technology Stock Down 0.4%

NASDAQ STX traded down $0.37 during trading hours on Wednesday, hitting $105.10. 289,041 shares of the company were exchanged, compared to its average volume of 2,885,042. The stock has a 50-day moving average price of $83.01 and a 200 day moving average price of $92.19. The stock has a market cap of $22.30 billion, a PE ratio of 19.18 and a beta of 1.32. Seagate Technology Holdings plc has a 52 week low of $63.19 and a 52 week high of $115.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results 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 business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The company's revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 EPS. As a group, sell-side analysts anticipate that Seagate Technology Holdings plc will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business 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 dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology's payout ratio is currently 41.62%.

Insiders Place Their Bets

In related news, CEO William D. Mosley sold 20,000 shares of the company'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 transaction, the chief executive officer now directly owns 555,677 shares of the company's stock, valued at $46,988,047.12. This represents a 3.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.81% of the stock is currently owned by corporate insiders.

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.