Seagate Technology Holdings plc (NASDAQ:STX) Stock Holdings Lifted by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 8.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,162,512 shares of the data storage provider's stock after buying an additional 318,416 shares during the quarter. Geode Capital Management LLC owned about 1.97% of Seagate Technology worth $454,477,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Seagate Technology during the 3rd quarter worth $26,000. Quarry LP acquired a new stake in Seagate Technology during the second quarter worth about $27,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Seagate Technology by 2,407.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider's stock worth $36,000 after purchasing an additional 337 shares during the period. Family Firm Inc. acquired a new position in shares of Seagate Technology in the 2nd quarter valued at about $41,000. Finally, Advisors Asset Management Inc. grew its holdings in shares of Seagate Technology by 177.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider's stock worth $44,000 after purchasing an additional 258 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Price Performance

STX traded down $1.16 during trading hours on Friday, hitting $95.75. 4,924,398 shares of the stock were exchanged, compared to its average volume of 2,497,944. The stock has a market cap of $20.25 billion, a price-to-earnings ratio of 25.00 and a beta of 1.03. The stock has a 50-day simple moving average of $102.57 and a 200-day simple moving average of $102.15. Seagate Technology Holdings plc has a 12 month low of $79.39 and a 12 month high of $115.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the firm posted ($0.34) EPS. The company's revenue for the quarter was up 49.1% on a year-over-year basis. Sell-side analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be issued a $0.72 dividend. This is an increase from Seagate Technology's previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. This represents a $2.88 annualized dividend and a dividend yield of 3.01%. Seagate Technology's dividend payout ratio (DPR) is 73.11%.

Analysts Set New Price Targets

A number of research analysts have weighed in on STX shares. Rosenblatt Securities lifted their price target on shares of Seagate Technology from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Wedbush reiterated an "outperform" rating and issued a $150.00 target price on shares of Seagate Technology in a research note on Wednesday, October 23rd. Benchmark restated a "hold" rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Northland Securities upped their target price on shares of Seagate Technology from $142.00 to $144.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Finally, Evercore ISI boosted their price objective on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $118.83.

Insider Activity at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total value of $76,365.00. Following the completion of the sale, the director now directly owns 6,555 shares of the company's stock, valued at approximately $667,430.10. This represents a 10.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP John Christopher Morris sold 1,131 shares of the firm's stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total transaction of $126,558.90. Following the transaction, the senior vice president now owns 7,191 shares in the company, valued at $804,672.90. This represents a 13.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 221,961 shares of company stock worth $23,967,629 in the last 90 days. 0.81% of the stock is currently owned by company insiders.

Seagate Technology Company 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.