Seagate Technology Holdings plc (NASDAQ:STX) Shares Bought by Man Group plc

Man Group plc grew its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 130.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 353,450 shares of the data storage provider’s stock after acquiring an additional 200,373 shares during the quarter. Man Group plc owned about 0.17% of Seagate Technology worth $30,506,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Capital Research Global Investors raised its stake in shares of Seagate Technology by 56.5% in the 4th quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider’s stock valued at $1,348,262,000 after acquiring an additional 5,640,443 shares during the period. Vanguard Group Inc. lifted its stake in Seagate Technology by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider’s stock worth $2,414,446,000 after acquiring an additional 1,814,821 shares in the last quarter. Marshall Wace LLP purchased a new position in Seagate Technology during the 4th quarter valued at about $77,341,000. Junto Capital Management LP purchased a new position in shares of Seagate Technology in the fourth quarter valued at approximately $60,303,000. Finally, Janus Henderson Group PLC lifted its holdings in 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 worth $57,925,000 after buying 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 related news, CEO William D. Mosley sold 20,000 shares of the firm’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 value of $1,691,200.00. Following the completion of the transaction, the chief executive officer now directly owns 555,677 shares of the company’s stock, valued at $46,988,047.12. This trade represents a 3.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.81% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on STX shares. Wedbush reiterated an “outperform” rating and issued a $140.00 price objective (down from $150.00) on shares of Seagate Technology in a research note on Wednesday, April 30th. Bank of America reduced their price target on Seagate Technology from $130.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Mizuho lowered their price objective on Seagate Technology from $115.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday, April 10th. Morgan Stanley cut their target price on shares of Seagate Technology from $133.00 to $129.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Finally, Benchmark upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $114.89.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $107.43 on Friday. The firm has a fifty day moving average price of $84.15 and a 200 day moving average price of $92.41. Seagate Technology Holdings plc has a 1-year low of $63.19 and a 1-year high of $115.32. The stock has a market cap of $22.80 billion, a P/E ratio of 19.64 and a beta of 1.32.

Seagate Technology (NASDAQ:STX) last issued 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 business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The business’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 earnings per share. Sell-side analysts expect that Seagate Technology Holdings plc will post 6.83 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology’s payout ratio is 41.62%.

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.