Perpetual Ltd Has $561,000 Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Perpetual Ltd grew its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 54.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,504 shares of the data storage provider’s stock after purchasing an additional 2,303 shares during the period. Perpetual Ltd’s holdings in Seagate Technology were worth $561,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in STX. Point72 Asset Management L.P. acquired a new position in shares of Seagate Technology during the 3rd quarter worth about $133,031,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Seagate Technology by 341.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider’s stock worth $143,370,000 after acquiring an additional 1,012,638 shares in the last quarter. State Street Corp boosted its position in Seagate Technology by 6.8% during the third quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock valued at $937,081,000 after purchasing an additional 541,585 shares during the last quarter. Franklin Resources Inc. grew its stake in Seagate Technology by 29.5% in the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock valued at $197,844,000 after purchasing an additional 405,232 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Seagate Technology during the 2nd quarter worth approximately $35,349,000. Institutional investors own 92.87% of the company’s stock.

Analysts Set New Price Targets

STX has been the subject of several recent analyst reports. Mizuho cut their price objective on Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Citigroup increased their price target on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday. Bank of America lifted their price objective on shares of Seagate Technology from $124.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday. Rosenblatt Securities raised their target price on shares of Seagate Technology from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Barclays lifted their price target on Seagate Technology from $95.00 to $105.00 and gave the stock an “equal weight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.56.

Insiders Place Their Bets

In other news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total value of $76,365.00. Following the transaction, the director now owns 6,555 shares in the company, valued at approximately $667,430.10. This trade represents a 10.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $102.83, for a total value of $2,056,600.00. Following the transaction, the chief executive officer now directly owns 622,497 shares of the company’s stock, valued at $64,011,366.51. This trade represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,073 shares of company stock worth $5,106,149 over the last ninety days. Corporate insiders own 0.81% of the company’s stock.

Seagate Technology Stock Up 6.8 %

Shares of NASDAQ:STX opened at $108.18 on Thursday. Seagate Technology Holdings plc has a 12-month low of $82.31 and a 12-month high of $115.32. The company’s 50 day moving average price is $94.55 and its two-hundred day moving average price is $100.33. The firm has a market cap of $22.88 billion, a PE ratio of 28.25 and a beta of 1.06.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The firm’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.34) earnings per share. On average, research analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 2.66%. Seagate Technology’s dividend payout ratio is 75.20%.

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.