Seagate Technology Holdings plc (NASDAQ:STX) Shares Bought by Graham Capital Management L.P.

Graham Capital Management L.P. increased its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 66.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,698 shares of the data storage provider’s stock after buying an additional 25,126 shares during the quarter. Graham Capital Management L.P.’s holdings in Seagate Technology were worth $5,411,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Focus Partners Wealth increased its stake in Seagate Technology by 81.3% during the 4th quarter. Focus Partners Wealth now owns 14,457 shares of the data storage provider’s stock worth $1,274,000 after buying an additional 6,483 shares during the period. Ethic Inc. increased its position in shares of Seagate Technology by 7.7% during the fourth quarter. Ethic Inc. now owns 18,592 shares of the data storage provider’s stock worth $1,605,000 after acquiring an additional 1,324 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Seagate Technology by 53.7% in the fourth quarter. Deutsche Bank AG now owns 1,130,761 shares of the data storage provider’s stock worth $97,596,000 after acquiring an additional 394,908 shares in the last quarter. DigitalBridge Group Inc. boosted its holdings in Seagate Technology by 69.0% in the fourth quarter. DigitalBridge Group Inc. now owns 478,490 shares of the data storage provider’s stock valued at $41,298,000 after purchasing an additional 195,282 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in Seagate Technology by 3.8% during the 4th quarter. Cetera Investment Advisers now owns 55,069 shares of the data storage provider’s stock valued at $4,753,000 after purchasing an additional 2,038 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company’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 sale, the chief executive officer now directly 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 SEC, which is available at this hyperlink. Corporate insiders own 0.81% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on STX shares. Wells Fargo & Company cut their target price 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. Susquehanna increased 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. StockNews.com downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Mizuho reduced their price target on shares of Seagate Technology from $115.00 to $95.00 and set an “outperform” rating on the stock in a research report on Thursday, April 10th. Finally, Wedbush reiterated an “outperform” rating and issued a $140.00 price target (down from $150.00) on shares of Seagate Technology in a research note on Wednesday, April 30th. One investment 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’s stock. According to data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.89.

Seagate Technology Stock Down 0.6 %

Seagate Technology stock opened at $95.71 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 market capitalization of $20.26 billion, a price-to-earnings ratio of 17.50 and a beta of 1.32. The firm has a 50-day moving average price of $82.82 and a two-hundred day moving average price of $92.35.

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 the consensus estimate of $1.75 by $0.15. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the firm posted $0.33 earnings per share. The business’s revenue was up 30.5% on a year-over-year basis. Research analysts expect that Seagate Technology Holdings plc will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

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