AustralianSuper Pty Ltd Raises Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

AustralianSuper Pty Ltd boosted its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 12.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,160 shares of the data storage provider’s stock after acquiring an additional 2,059 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Seagate Technology were worth $1,875,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of STX. Capital Research Global Investors increased its holdings in shares of Seagate Technology by 39.3% during the 4th quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock valued at $1,418,413,000 after purchasing an additional 4,685,454 shares in the last quarter. Norges Bank acquired a new stake in shares of Seagate Technology during the 4th quarter valued at about $188,834,000. Vanguard Group Inc. increased its stake in shares of Seagate Technology by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock valued at $2,303,274,000 after purchasing an additional 746,395 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Seagate Technology by 83.2% in the 4th quarter. Wells Fargo & Company MN now owns 1,014,075 shares of the data storage provider’s stock worth $86,572,000 after purchasing an additional 460,599 shares during the period. Finally, Mizuho Markets Americas LLC boosted its position in Seagate Technology by 321.7% during the fourth quarter. Mizuho Markets Americas LLC now owns 586,120 shares of the data storage provider’s stock worth $50,037,000 after purchasing an additional 447,120 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Price Performance

Shares of STX stock traded down $2.90 during trading hours on Wednesday, hitting $97.81. The stock had a trading volume of 665,886 shares, compared to its average volume of 2,586,264. Seagate Technology Holdings plc has a twelve month low of $62.43 and a twelve month high of $113.57. The firm has a market capitalization of $20.56 billion, a PE ratio of -78.07 and a beta of 1.02. The stock’s 50 day moving average is $102.20 and its 200 day moving average is $95.22.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.76 by $0.29. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The business’s revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.29) EPS. As a group, equities analysts predict that Seagate Technology Holdings plc will post 6.72 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Monday, September 23rd. Seagate Technology’s dividend payout ratio is currently -217.05%.

Analyst Upgrades and Downgrades

STX has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. UBS Group increased their target price on Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. StockNews.com lowered Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Susquehanna lifted their target price on shares of Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research note on Wednesday, July 24th. Finally, Barclays increased their target price on shares of Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $115.94.

Insider Activity at Seagate Technology

In other Seagate Technology news, SVP John Christopher Morris sold 5,928 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $99.99, for a total transaction of $592,740.72. Following the completion of the transaction, the senior vice president now owns 12,185 shares of the company’s stock, valued at $1,218,378.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the transaction, the chief executive officer now owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP John Christopher Morris sold 5,928 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $99.99, for a total value of $592,740.72. Following the sale, the senior vice president now owns 12,185 shares in the company, valued at approximately $1,218,378.15. The disclosure for this sale can be found here. Insiders sold 72,547 shares of company stock valued at $7,084,361 in the last ninety days. Corporate insiders own 0.89% of the company’s stock.

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.