XTX Topco Ltd Purchases 15,572 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

XTX Topco Ltd grew its position in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 667.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,906 shares of the data storage provider's stock after purchasing an additional 15,572 shares during the period. XTX Topco Ltd's holdings in Seagate Technology were worth $1,849,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Jump Financial LLC acquired a new position in shares of Seagate Technology in the 4th quarter valued at approximately $226,000. Principal Financial Group Inc. increased its position in shares of Seagate Technology by 0.4% during the fourth quarter. Principal Financial Group Inc. now owns 207,053 shares of the data storage provider's stock worth $17,676,000 after acquiring an additional 917 shares in the last quarter. Level Four Advisory Services LLC acquired a new stake in shares of Seagate Technology during the fourth quarter worth $255,000. Norges Bank acquired a new position in Seagate Technology in the 4th quarter worth $188,834,000. Finally, UBS Group AG increased its holdings in Seagate Technology by 29.9% during the 4th quarter. UBS Group AG now owns 495,150 shares of the data storage provider's stock worth $42,271,000 after purchasing an additional 113,886 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on STX shares. StockNews.com downgraded Seagate Technology from a "buy" rating to a "hold" rating in a report on Friday, August 23rd. Barclays lifted their price objective on shares of Seagate Technology from $80.00 to $95.00 and gave the company an "equal weight" rating in a report on Wednesday, July 24th. Cantor Fitzgerald increased their target price on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a "neutral" rating in a report on Wednesday, July 24th. TD Cowen lifted their price target on shares of Seagate Technology from $110.00 to $135.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Finally, UBS Group raised their price objective on Seagate Technology from $110.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Seagate Technology has a consensus rating of "Hold" and an average price target of $115.94.

Seagate Technology Stock Performance

Shares of STX stock traded up $0.62 during midday trading on Friday, hitting $104.74. 5,499,855 shares of the company were exchanged, compared to its average volume of 2,565,761. Seagate Technology Holdings plc has a 52 week low of $63.32 and a 52 week high of $113.57. The firm has a market capitalization of $22.05 billion, a P/E ratio of -81.19 and a beta of 1.03. The firm's 50 day moving average price is $101.15 and its two-hundred day moving average price is $96.54.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, beating the consensus estimate of $0.76 by $0.29. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The firm's revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.29) earnings per share. Analysts expect that Seagate Technology Holdings plc will post 6.72 EPS for the current year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Monday, September 23rd. Seagate Technology's dividend payout ratio is -217.05%.

Insiders Place Their Bets

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the firm's 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 transaction, the director now owns 3,034 shares in the company, valued at approximately $291,567.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Yolanda Lee Conyers sold 750 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the transaction, the director now directly owns 3,034 shares in the company, valued at approximately $291,567.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the sale, the chief executive officer now owns 654,270 shares in the company, valued at approximately $61,148,074.20. The disclosure for this sale can be found here. Insiders sold 56,627 shares of company stock worth $5,489,495 in the last quarter. 0.89% of the stock is currently owned by corporate insiders.

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.