Central Asset Investments & Management Holdings HK Ltd Purchases 36,849 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Central Asset Investments & Management Holdings HK Ltd increased its stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 624.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,749 shares of the data storage provider's stock after buying an additional 36,849 shares during the period. Seagate Technology comprises about 1.6% of Central Asset Investments & Management Holdings HK Ltd's investment portfolio, making the stock its 8th largest position. Central Asset Investments & Management Holdings HK Ltd's holdings in Seagate Technology were worth $4,415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in STX. Family Firm Inc. acquired a new stake in shares of Seagate Technology during the 2nd quarter valued at approximately $41,000. ICA Group Wealth Management LLC acquired a new stake in Seagate Technology during the fourth quarter worth about $47,000. Richardson Financial Services Inc. bought a new position in Seagate Technology in the fourth quarter worth about $47,000. Larson Financial Group LLC boosted its stake in Seagate Technology by 15,766.7% in the second quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider's stock valued at $49,000 after acquiring an additional 473 shares during the period. Finally, Viking Fund Management LLC grew its holdings in shares of Seagate Technology by 722.2% during the first quarter. Viking Fund Management LLC now owns 740 shares of the data storage provider's stock valued at $69,000 after purchasing an additional 650 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Trading Down 1.1 %

Seagate Technology stock traded down $1.14 on Wednesday, reaching $100.93. 1,832,869 shares of the stock were exchanged, compared to its average volume of 2,555,339. The stock has a market cap of $21.19 billion, a PE ratio of -79.51 and a beta of 1.03. The firm has a fifty day moving average price of $101.35 and a two-hundred day moving average price of $96.41. Seagate Technology Holdings plc has a twelve month low of $63.32 and a twelve month high of $113.57.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.29. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The company's quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.29) earnings per share. Equities analysts anticipate that Seagate Technology Holdings plc will post 6.72 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Monday, September 23rd. Seagate Technology's payout ratio is presently -217.05%.

Analyst Ratings Changes

A number of research firms recently weighed in on STX. The Goldman Sachs Group increased their price objective on shares of Seagate Technology from $96.00 to $107.00 and gave the stock a "neutral" rating in a report on Wednesday, July 24th. Susquehanna increased their price objective on Seagate Technology from $55.00 to $65.00 and gave the stock a "negative" rating in a report on Wednesday, July 24th. TD Cowen lifted their target price on Seagate Technology from $110.00 to $135.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Loop Capital boosted their price target on Seagate Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a research report on Wednesday, July 24th. Finally, Morgan Stanley raised their price target on Seagate Technology from $115.00 to $133.00 and gave the company an "overweight" rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $115.94.

Insider Activity

In other news, CFO Gianluca Romano sold 25,760 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $94.54, for a total value of $2,435,350.40. Following the completion of the transaction, the chief financial officer now owns 52,620 shares in the company, valued at approximately $4,974,694.80. The sale was disclosed in a filing with the SEC, which is available at this link. In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the transaction, the director now directly owns 3,034 shares of the company's stock, valued at $291,567.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Gianluca Romano sold 25,760 shares of the company's stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $94.54, for a total transaction of $2,435,350.40. Following the completion of the sale, the chief financial officer now directly owns 52,620 shares in the company, valued at approximately $4,974,694.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,627 shares of company stock worth $5,489,495. Company insiders own 0.89% of the company's stock.

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.