J. Goldman & Co LP Makes New $3.88 Million Investment in Seagate Technology Holdings plc (NASDAQ:STX)

J. Goldman & Co LP acquired a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 45,000 shares of the data storage provider’s stock, valued at approximately $3,884,000.

Other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors raised its holdings in shares of Seagate Technology by 56.5% in the fourth quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider’s stock valued at $1,348,262,000 after purchasing an additional 5,640,443 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Seagate Technology by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider’s stock valued at $2,414,446,000 after purchasing an additional 1,814,821 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Seagate Technology in the fourth quarter valued at about $77,341,000. Junto Capital Management LP purchased a new stake in shares of Seagate Technology in the fourth quarter valued at about $60,303,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Seagate Technology by 2,853.4% in the fourth quarter. Janus Henderson Group PLC now owns 670,976 shares of the data storage provider’s stock valued at $57,925,000 after purchasing an additional 648,257 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Price Performance

STX stock opened at $95.71 on Monday. The business has a 50-day moving average price of $82.82 and a 200 day moving average price of $92.19. The company has a market capitalization of $20.26 billion, a P/E ratio of 17.50 and a beta of 1.32. Seagate Technology Holdings plc has a 1-year low of $63.19 and a 1-year high of $115.32.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. On average, analysts anticipate that Seagate Technology Holdings plc will post 6.83 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 Tuesday, July 8th. Stockholders of record on Wednesday, June 25th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $2.88 annualized dividend and a dividend yield of 3.01%. Seagate Technology’s dividend payout ratio (DPR) is currently 41.62%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on STX shares. Citigroup decreased their price objective on shares of Seagate Technology from $115.00 to $90.00 and set a “buy” rating for the company in a report on Monday, April 14th. Morgan Stanley cut their target price on shares of Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Benchmark upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Wednesday, January 22nd. Barclays increased their target price on shares of Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 30th. Finally, Wedbush reiterated an “outperform” rating and set a $140.00 target price (down previously from $150.00) on shares of Seagate Technology in a research report on Wednesday, April 30th. One 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 stock. According to MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.89.

Insider Activity

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the business’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 transaction, the chief executive officer now directly owns 555,677 shares of the company’s stock, valued at approximately $46,988,047.12. The trade was a 3.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.81% of the company’s stock.

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.