Clearbridge Investments LLC Acquires 337,464 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Clearbridge Investments LLC raised its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 14.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,656,828 shares of the data storage provider’s stock after acquiring an additional 337,464 shares during the quarter. Clearbridge Investments LLC owned about 1.27% of Seagate Technology worth $247,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in STX. New York State Common Retirement Fund boosted its position in shares of Seagate Technology by 68.8% in the fourth quarter. New York State Common Retirement Fund now owns 143,049 shares of the data storage provider’s stock valued at $12,212,000 after acquiring an additional 58,300 shares during the period. Stratos Wealth Partners LTD. grew its position in shares of Seagate Technology by 8.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock valued at $593,000 after purchasing an additional 561 shares in the last quarter. Baader Bank Aktiengesellschaft bought a new position in shares of Seagate Technology in the fourth quarter worth $230,000. Chapin Davis Inc. raised its position in shares of Seagate Technology by 210.8% in the first quarter. Chapin Davis Inc. now owns 29,152 shares of the data storage provider’s stock worth $2,713,000 after buying an additional 19,773 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Seagate Technology by 1.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 136,111 shares of the data storage provider’s stock valued at $11,620,000 after buying an additional 1,419 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Down 0.8 %

Shares of Seagate Technology stock traded down $0.88 on Tuesday, hitting $105.30. The stock had a trading volume of 3,679,110 shares, compared to its average volume of 2,575,662. The stock’s 50-day simple moving average is $100.63 and its two-hundred day simple moving average is $92.54. Seagate Technology Holdings plc has a one year low of $57.32 and a one year high of $109.63. The stock has a market cap of $22.11 billion, a price-to-earnings ratio of -81.46 and a beta of 1.02.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.30. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. Seagate Technology’s revenue was up 17.8% on a year-over-year basis. During the same period last year, the business earned ($0.29) EPS. As a group, equities analysts predict that Seagate Technology Holdings plc will post 0.44 EPS for the current fiscal year.

Insider Activity at Seagate Technology

In other news, SVP John Christopher Morris sold 11,158 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the transaction, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at $1,599,030. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the sale, the senior vice president now owns 17,767 shares of the company’s stock, valued at approximately $1,599,030. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ban Seng Teh sold 10,742 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $100.00, for a total transaction of $1,074,200.00. Following the completion of the transaction, the executive vice president now directly owns 5,042 shares of the company’s stock, valued at $504,200. The disclosure for this sale can be found here. Insiders have sold a total of 37,531 shares of company stock worth $3,592,946 in the last 90 days. Company insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on STX. Citigroup raised their price target on Seagate Technology from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, July 12th. The Goldman Sachs Group boosted their price target on shares of Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Cantor Fitzgerald raised their price objective on shares of Seagate Technology from $100.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Barclays dropped their price objective on shares of Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, April 22nd. Finally, Morgan Stanley raised Seagate Technology from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $73.00 to $115.00 in a research note on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $102.71.

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.