Seagate Technology Holdings plc (NASDAQ:STX) Stock Holdings Boosted by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. raised its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 14.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 199,831 shares of the data storage provider’s stock after buying an additional 25,832 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Seagate Technology were worth $17,247,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of Seagate Technology by 74.2% during the 3rd quarter. Principal Financial Group Inc. now owns 354,013 shares of the data storage provider’s stock worth $38,775,000 after acquiring an additional 150,734 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Seagate Technology by 5.8% during the 4th quarter. Nordea Investment Management AB now owns 15,555 shares of the data storage provider’s stock worth $1,349,000 after acquiring an additional 856 shares in the last quarter. Czech National Bank boosted its stake in shares of Seagate Technology by 7.2% during the 4th quarter. Czech National Bank now owns 45,864 shares of the data storage provider’s stock worth $3,959,000 after acquiring an additional 3,087 shares in the last quarter. Elevated Capital Advisors LLC boosted its stake in shares of Seagate Technology by 6.4% during the 4th quarter. Elevated Capital Advisors LLC now owns 11,787 shares of the data storage provider’s stock worth $1,017,000 after acquiring an additional 711 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its stake in shares of Seagate Technology by 3.7% during the 4th quarter. AdvisorNet Financial Inc now owns 3,377 shares of the data storage provider’s stock worth $291,000 after acquiring an additional 122 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

STX has been the subject of several research reports. Morgan Stanley reduced their price objective on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. Wells Fargo & Company reduced their price objective on Seagate Technology from $120.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 30th. Cantor Fitzgerald restated a “neutral” rating and issued a $120.00 target price on shares of Seagate Technology in a report on Wednesday, January 22nd. Rosenblatt Securities restated a “buy” rating and issued a $130.00 target price on shares of Seagate Technology in a report on Wednesday, April 30th. Finally, Barclays increased their target price on Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and an average target price of $114.89.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 555,677 shares of the company’s stock, valued at approximately $46,988,047.12. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.81% of the company’s stock.

Seagate Technology Price Performance

Seagate Technology stock opened at $101.95 on Tuesday. The company has a market capitalization of $21.64 billion, a price-to-earnings ratio of 18.64 and a beta of 1.32. Seagate Technology Holdings plc has a one year low of $63.19 and a one year high of $115.32. The company’s fifty day moving average price is $83.01 and its two-hundred day moving average price is $92.19.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. The firm 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share. As a group, sell-side analysts anticipate that Seagate Technology Holdings plc will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.82%. The ex-dividend date is Wednesday, June 25th. Seagate Technology’s payout ratio is 41.62%.

Seagate Technology 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.