Dimensional Fund Advisors LP Increases Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Dimensional Fund Advisors LP boosted its stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 982,649 shares of the data storage provider's stock after buying an additional 9,821 shares during the period. Dimensional Fund Advisors LP owned approximately 0.46% of Seagate Technology worth $84,814,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in STX. Wilmington Savings Fund Society FSB bought a new position in Seagate Technology in the third quarter valued at approximately $54,000. JFS Wealth Advisors LLC lifted its position in shares of Seagate Technology by 27.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock worth $46,000 after purchasing an additional 113 shares during the period. Human Investing LLC bought a new stake in Seagate Technology during the fourth quarter valued at $48,000. Mizuho Bank Ltd. boosted its holdings in shares of Seagate Technology by 140.0% during the 4th quarter. Mizuho Bank Ltd. now owns 600 shares of the data storage provider's stock worth $52,000 after buying an additional 350 shares in the last quarter. Finally, S.A. Mason LLC acquired a new stake in shares of Seagate Technology in the 4th quarter valued at about $55,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on STX. Summit Insights raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a research note on Wednesday, January 22nd. Mizuho lowered their target price on shares of Seagate Technology from $115.00 to $95.00 and set an "outperform" rating on the stock in a report on Thursday, April 10th. The Goldman Sachs Group lowered their target price on shares of Seagate Technology from $112.00 to $99.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Morgan Stanley decreased their price objective on shares of Seagate Technology from $133.00 to $129.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 21st. Finally, StockNews.com downgraded Seagate Technology from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Seagate Technology has an average rating of "Moderate Buy" and a consensus target price of $114.89.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 20,000 shares of Seagate Technology 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. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.81% of the stock is currently owned by insiders.

Seagate Technology Trading Up 3.4 %

Seagate Technology stock traded up $3.06 on Friday, hitting $93.07. 3,408,252 shares of the stock traded hands, compared to its average volume of 2,847,011. Seagate Technology Holdings plc has a 1 year low of $63.19 and a 1 year high of $115.32. The business's fifty day simple moving average is $83.26 and its 200 day simple moving average is $92.95. The firm has a market cap of $19.70 billion, a P/E ratio of 17.01 and a beta of 1.31.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.15. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The company's revenue was up 30.5% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. As a group, analysts predict that Seagate Technology Holdings plc will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The business 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 annualized dividend and a yield of 3.09%. The ex-dividend date is Wednesday, June 25th. Seagate Technology's dividend payout ratio is currently 41.62%.

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.