Jacobs Levy Equity Management Inc. Has $17.25 Million Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Jacobs Levy Equity Management Inc. grew its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 14.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 199,831 shares of the data storage provider's stock after purchasing an additional 25,832 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.09% of Seagate Technology worth $17,247,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Research Global Investors lifted its position in Seagate Technology by 56.5% in the fourth quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider's stock worth $1,348,262,000 after purchasing an additional 5,640,443 shares during the period. Vanguard Group Inc. boosted its stake in 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 in the last quarter. Marshall Wace LLP acquired a new position in Seagate Technology during the fourth quarter worth about $77,341,000. Junto Capital Management LP bought a new stake in Seagate Technology in the fourth quarter worth about $60,303,000. Finally, Janus Henderson Group PLC boosted its position in shares of Seagate Technology by 2,853.4% during the 4th quarter. Janus Henderson Group PLC now owns 670,976 shares of the data storage provider's stock valued at $57,925,000 after purchasing an additional 648,257 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Insider Buying and Selling at Seagate Technology

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 stock was sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the completion of the transaction, the chief executive officer now directly owns 555,677 shares in the company, valued at $46,988,047.12. The trade was a 3.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.81% of the company's stock.

Seagate Technology Stock Performance

Shares of Seagate Technology stock traded up $0.36 during midday trading on Friday, reaching $107.79. 3,233,263 shares of the company's stock traded hands, compared to its average volume of 2,911,369. Seagate Technology Holdings plc has a 52 week low of $63.19 and a 52 week high of $115.32. The company's 50 day simple moving average is $84.56 and its 200 day simple moving average is $92.45. The company 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 posted its 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 company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The business's revenue was up 30.5% compared to the same quarter last year. During the same period last year, the company earned $0.33 earnings per share. As a group, equities research 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 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 yield of 2.67%. Seagate Technology's payout ratio is currently 41.62%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Rosenblatt Securities reiterated a "buy" rating and set a $130.00 price objective on shares of Seagate Technology in a research report on Wednesday, April 30th. Northland Securities reiterated an "outperform" rating and issued a $160.00 price target (up previously from $144.00) on shares of Seagate Technology in a research report on Wednesday, January 22nd. Cantor Fitzgerald reissued a "neutral" rating and issued a $120.00 price target on shares of Seagate Technology in a research note on Wednesday, January 22nd. Summit Insights raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a research note on Wednesday, January 22nd. Finally, Wedbush reissued an "outperform" rating and issued a $140.00 target price (down from $150.00) on shares of Seagate Technology in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.