Perpetual Ltd Acquires 2,303 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Perpetual Ltd increased its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 54.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 6,504 shares of the data storage provider’s stock after acquiring an additional 2,303 shares during the quarter. 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 recently added to or reduced their stakes in STX. Sanders Capital LLC grew its stake in shares of Seagate Technology by 0.9% in the third quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider’s stock worth $1,792,742,000 after purchasing an additional 150,115 shares during the last quarter. State Street Corp lifted its holdings in Seagate Technology by 6.8% during the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock worth $937,081,000 after buying an additional 541,585 shares during the period. Geode Capital Management LLC grew its position in shares of Seagate Technology by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock valued at $454,477,000 after buying an additional 318,416 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of 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 buying an additional 405,232 shares during the period. Finally, Duquesne Family Office LLC raised its position in shares of Seagate Technology by 22.0% during the second quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock worth $181,268,000 after acquiring an additional 316,295 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. StockNews.com cut Seagate Technology from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Morgan Stanley reduced their price objective 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. Northland Securities reissued an “outperform” rating and set a $160.00 target price (up previously from $144.00) on shares of Seagate Technology in a research note on Wednesday. Summit Insights raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Barclays lifted their price objective on Seagate Technology from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology has an average rating of “Moderate Buy” and an average price target of $122.56.

Seagate Technology Trading Up 6.8 %

Shares of STX stock opened at $108.18 on Thursday. The firm has a fifty day simple moving average of $94.55 and a two-hundred day simple moving average of $100.33. Seagate Technology Holdings plc has a 12 month low of $82.31 and a 12 month high of $115.32. The firm has a market capitalization of $22.88 billion, a PE ratio of 28.25 and a beta of 1.06.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The firm’s 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) EPS. On average, equities analysts predict that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s dividend payout ratio (DPR) is presently 75.20%.

Insider Activity

In related news, SVP Kian Fatt Chong sold 9,182 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $105.50, for a total transaction of $968,701.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $102.83, for a total transaction of $2,056,600.00. Following the completion of the sale, the chief executive officer now directly owns 622,497 shares of the company’s stock, valued at $64,011,366.51. The trade was a 3.11 % decrease in their ownership of the stock. 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 90 days. 0.81% of the stock is currently owned by corporate insiders.

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.