Seagate Technology Holdings plc (NASDAQ:STX) Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC increased its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 12.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,138 shares of the data storage provider's stock after buying an additional 6,596 shares during the quarter. Lazard Asset Management LLC's holdings in Seagate Technology were worth $5,189,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. JFS Wealth Advisors LLC boosted its holdings in Seagate Technology by 27.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock valued at $46,000 after purchasing an additional 113 shares in the last quarter. Human Investing LLC purchased a new stake in Seagate Technology in the 4th quarter valued at approximately $48,000. Mizuho Bank Ltd. boosted its holdings in Seagate Technology by 140.0% in the 4th quarter. Mizuho Bank Ltd. now owns 600 shares of the data storage provider's stock valued at $52,000 after purchasing an additional 350 shares in the last quarter. Johnson Financial Group Inc. lifted its position in shares of Seagate Technology by 22.7% during the 4th quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider's stock valued at $52,000 after acquiring an additional 112 shares during the period. Finally, S.A. Mason LLC acquired a new stake in shares of Seagate Technology during the 4th quarter valued at approximately $55,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Seagate Technology Stock Performance

Seagate Technology stock traded up $0.36 during trading on Friday, reaching $107.79. 3,233,263 shares of the company's stock were exchanged, compared to its average volume of 2,916,617. The company's 50-day moving average is $84.56 and its two-hundred day moving average is $92.35. Seagate Technology Holdings plc has a 52-week low of $63.19 and a 52-week high of $115.32. The firm has a market cap of $22.87 billion, a price-to-earnings ratio of 19.71 and a beta of 1.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share 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 during the quarter, compared to analysts' expectations of $2.14 billion. During the same period in the prior year, the company earned $0.33 EPS. The firm's revenue was up 30.5% on a year-over-year basis. Analysts anticipate that Seagate Technology Holdings plc will post 6.83 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be given a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a yield of 2.67%. Seagate Technology's payout ratio is currently 41.62%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. BNP Paribas Exane upgraded shares of Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 price target for the company in a research report on Friday. Wells Fargo & Company reduced their price target on shares of Seagate Technology from $120.00 to $105.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. Cantor Fitzgerald reiterated a "neutral" rating and set a $120.00 price target on shares of Seagate Technology in a research report on Wednesday, January 22nd. Citigroup reduced their price target on shares of Seagate Technology from $115.00 to $90.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Wedbush reiterated an "outperform" rating and set a $140.00 price target (down from $150.00) on shares of Seagate Technology in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Seagate Technology has a consensus rating of "Moderate Buy" and a consensus price target of $114.11.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were 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 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.81% of the stock is currently owned by corporate insiders.

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.