Man Group plc Purchases 200,373 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Man Group plc increased its holdings in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 130.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 353,450 shares of the data storage provider's stock after acquiring an additional 200,373 shares during the quarter. Man Group plc owned approximately 0.17% of Seagate Technology worth $30,506,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in STX. Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Seagate Technology by 5.4% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 25,313 shares of the data storage provider's stock valued at $2,212,000 after buying an additional 1,304 shares in the last quarter. NorthRock Partners LLC bought a new stake in shares of Seagate Technology in the 4th quarter valued at about $324,000. Occudo Quantitative Strategies LP boosted its holdings in shares of Seagate Technology by 109.1% in the 4th quarter. Occudo Quantitative Strategies LP now owns 13,803 shares of the data storage provider's stock valued at $1,191,000 after buying an additional 7,201 shares in the last quarter. Meridiem Capital Partners LP acquired a new stake in Seagate Technology in the 4th quarter worth approximately $5,179,000. Finally, Mubadala Investment Co PJSC acquired a new stake in Seagate Technology in the 4th quarter worth approximately $3,361,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction on 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 owns 555,677 shares in the company, valued at $46,988,047.12. This trade represents a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.81% of the stock is currently owned by corporate insiders.

Seagate Technology Stock Up 1.2%

NASDAQ STX traded up $1.25 during trading on Monday, hitting $109.04. The company's stock had a trading volume of 3,286,176 shares, compared to its average volume of 2,918,095. The firm has a 50 day moving average price of $85.01 and a 200 day moving average price of $92.42. The firm has a market cap of $23.14 billion, a P/E ratio of 19.93 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 released its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.15. The business had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.14 billion. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. Seagate Technology's quarterly revenue was up 30.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 earnings per share. On average, equities analysts expect that Seagate Technology Holdings plc will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Wednesday, June 25th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.64%. Seagate Technology's payout ratio is currently 41.62%.

Analysts Set New Price Targets

A number of research firms recently commented on STX. Morgan Stanley lowered their target price on shares of Seagate Technology from $133.00 to $129.00 and set an "overweight" rating for the company in a research note on Tuesday, January 21st. Summit Insights raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a research report on Wednesday, January 22nd. Mizuho reduced their price target on shares of Seagate Technology from $115.00 to $95.00 and set an "outperform" rating for the company in a research report on Thursday, April 10th. 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, Benchmark raised shares of Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 price target for the company in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $114.37.

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.