Rafferty Asset Management LLC Grows Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Rafferty Asset Management LLC increased its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,001 shares of the data storage provider’s stock after buying an additional 2,484 shares during the period. Rafferty Asset Management LLC’s holdings in Seagate Technology were worth $6,387,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Polar Asset Management Partners Inc. lifted its holdings in shares of Seagate Technology by 31.0% in the fourth quarter. Polar Asset Management Partners Inc. now owns 183,600 shares of the data storage provider’s stock valued at $15,847,000 after purchasing an additional 43,400 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Seagate Technology by 7.4% in the fourth quarter. ProShare Advisors LLC now owns 55,821 shares of the data storage provider’s stock valued at $4,818,000 after purchasing an additional 3,869 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Seagate Technology by 52.6% in the fourth quarter. Quantinno Capital Management LP now owns 35,378 shares of the data storage provider’s stock valued at $3,054,000 after purchasing an additional 12,190 shares in the last quarter. Panoramic Capital LLC purchased a new stake in shares of Seagate Technology in the fourth quarter valued at about $1,640,000. Finally, Mufg Securities Americas Inc. purchased a new stake in shares of Seagate Technology in the fourth quarter valued at about $270,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.81% of the company’s stock.

Seagate Technology Stock Up 0.3%

Seagate Technology stock opened at $107.79 on Friday. Seagate Technology Holdings plc has a 52-week low of $63.19 and a 52-week high of $115.32. The firm has a fifty day moving average of $84.56 and a 200-day moving average of $92.40. The firm has a market capitalization of $22.87 billion, a P/E ratio of 19.71 and a beta of 1.32.

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

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology’s payout ratio is 41.62%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on STX shares. Wells Fargo & Company reduced their price target on shares of Seagate Technology from $120.00 to $105.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 30th. Susquehanna upped their price objective on shares of Seagate Technology from $65.00 to $68.00 and gave the company a “negative” rating in a research note on Wednesday, January 22nd. Citigroup reduced their price objective on shares of Seagate Technology from $115.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Summit Insights raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Finally, Bank of America reduced their price objective on shares of Seagate Technology from $130.00 to $112.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $114.11.

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.