J. Goldman & Co LP Buys Shares of 45,000 Seagate Technology Holdings plc (NASDAQ:STX)

J. Goldman & Co LP bought a new stake in Seagate Technology Holdings plc (NASDAQ:STX) in the 4th quarter, HoldingsChannel reports. The firm bought 45,000 shares of the data storage provider’s stock, valued at approximately $3,884,000.

Other large investors also recently added to or reduced their stakes in the company. 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. Sanders Capital LLC lifted its stake in Seagate Technology by 1.0% during the 4th quarter. Sanders Capital LLC now owns 16,530,152 shares of the data storage provider’s stock worth $1,426,717,000 after acquiring an additional 162,561 shares in the last quarter. Capital Research Global Investors lifted its stake in Seagate Technology by 56.5% during the 4th quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider’s stock worth $1,348,262,000 after acquiring an additional 5,640,443 shares in the last quarter. Geode Capital Management LLC lifted its stake in Seagate Technology by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 4,295,225 shares of the data storage provider’s stock worth $370,013,000 after acquiring an additional 132,713 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Seagate Technology by 14.6% during the 4th quarter. Invesco Ltd. now owns 2,761,534 shares of the data storage provider’s stock worth $238,348,000 after acquiring an additional 352,300 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 555,677 shares in the company, valued at $46,988,047.12. This represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.81% of the company’s stock.

Seagate Technology Price Performance

Shares of STX stock opened at $95.71 on Monday. Seagate Technology Holdings plc has a 12-month low of $63.19 and a 12-month high of $115.32. The firm has a market capitalization of $20.26 billion, a price-to-earnings ratio of 17.50 and a beta of 1.32. The business has a 50 day simple moving average of $82.82 and a 200 day simple moving average of $92.19.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The business’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.33 EPS. On average, equities analysts anticipate that Seagate Technology Holdings plc will post 6.83 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Wednesday, June 25th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.01%. Seagate Technology’s dividend payout ratio (DPR) is presently 41.62%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on STX shares. Morgan Stanley reduced their price target on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. Summit Insights raised Seagate Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. StockNews.com lowered Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Wells Fargo & Company reduced their price target on Seagate Technology from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 30th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $140.00 price target (down previously from $150.00) on shares of Seagate Technology in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $114.89.

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.