Occudo Quantitative Strategies LP Purchases 7,201 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Occudo Quantitative Strategies LP increased its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 109.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,803 shares of the data storage provider's stock after acquiring an additional 7,201 shares during the period. Occudo Quantitative Strategies LP's holdings in Seagate Technology were worth $1,191,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Berkshire Bank increased its stake in Seagate Technology by 2.6% during the fourth quarter. Berkshire Bank now owns 4,118 shares of the data storage provider's stock worth $355,000 after acquiring an additional 103 shares during the last quarter. MWA Asset Management boosted its stake in Seagate Technology by 0.5% in the fourth quarter. MWA Asset Management now owns 19,636 shares of the data storage provider's stock valued at $1,695,000 after acquiring an additional 104 shares in the last quarter. Johnson Financial Group Inc. boosted its stake in shares of Seagate Technology by 22.7% during the fourth quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider's stock worth $52,000 after buying an additional 112 shares during the period. JFS Wealth Advisors LLC boosted its stake in shares of Seagate Technology by 27.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock worth $46,000 after buying an additional 113 shares during the period. Finally, Signaturefd LLC raised its holdings in Seagate Technology by 2.3% during the fourth quarter. Signaturefd LLC now owns 4,988 shares of the data storage provider's stock worth $431,000 after purchasing an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.81% of the stock is currently owned by insiders.

Seagate Technology Price Performance

Shares of NASDAQ STX traded up $0.36 during midday trading on Friday, reaching $107.79. 3,233,263 shares of the stock were exchanged, compared to its average volume of 2,915,595. The business has a 50-day simple moving average of $84.56 and a two-hundred day simple moving average of $92.45. The company has a market capitalization of $22.87 billion, a price-to-earnings ratio of 19.71 and a beta of 1.32. 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 issued its quarterly earnings data 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. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the business posted $0.33 earnings per share. The firm's quarterly revenue was up 30.5% on a year-over-year basis. Equities research analysts expect that Seagate Technology Holdings plc will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Wednesday, June 25th. Seagate Technology's payout ratio is 41.62%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on STX shares. StockNews.com cut shares of Seagate Technology from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Benchmark raised Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 price objective on the stock in a research report on Wednesday, January 22nd. BNP Paribas raised Seagate Technology from a "strong sell" rating to a "hold" rating in a research report on Friday. Bank of America lowered their price objective on Seagate Technology from $130.00 to $112.00 and set a "buy" rating for the company in a report on Thursday, March 13th. Finally, UBS Group boosted their price objective on Seagate Technology from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $114.11.

About Seagate Technology

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.