Seagate Technology Holdings plc (NASDAQ:STX) Shares Purchased by State Street Corp

State Street Corp increased its position in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 6.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,502,674 shares of the data storage provider's stock after purchasing an additional 541,585 shares during the period. State Street Corp owned 4.02% of Seagate Technology worth $937,081,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Seagate Technology during the third quarter valued at about $26,000. Quarry LP purchased a new stake in Seagate Technology in the second quarter valued at approximately $27,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Seagate Technology by 2,407.1% during the second 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 in the last quarter. Family Firm Inc. purchased a new position in shares of Seagate Technology during the second quarter worth $41,000. Finally, Advisors Asset Management Inc. lifted its stake in 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 acquiring an additional 258 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Performance

Shares of STX stock traded up $0.33 during mid-day trading on Friday, hitting $98.51. 2,720,247 shares of the stock were exchanged, compared to its average volume of 2,091,385. Seagate Technology Holdings plc has a 12-month low of $78.10 and a 12-month high of $115.32. The stock has a market capitalization of $20.84 billion, a price-to-earnings ratio of 25.72 and a beta of 1.03. The stock's fifty day simple moving average is $103.64 and its two-hundred day simple moving average is $102.08.

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

Seagate Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be given a dividend of $0.72 per share. This is an increase from Seagate Technology's previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology's dividend payout ratio (DPR) is presently 75.20%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Evercore ISI lifted their target price on Seagate Technology from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Rosenblatt Securities upped their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Cantor Fitzgerald reissued a "neutral" rating and issued a $125.00 price target on shares of Seagate Technology in a research report on Wednesday, October 23rd. Citigroup increased their price objective on Seagate Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Finally, Benchmark reissued a "hold" rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Seagate Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.83.

Insider Buying and Selling at Seagate Technology

In other news, CEO William D. Mosley sold 141,785 shares of Seagate Technology stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.18, for a total value of $15,621,871.30. Following the sale, the chief executive officer now owns 668,616 shares of the company's stock, valued at $73,668,110.88. The trade was a 17.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John Christopher Morris sold 1,131 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total transaction of $126,558.90. Following the transaction, the senior vice president now directly owns 7,191 shares of the company's stock, valued at $804,672.90. This represents a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 221,820 shares of company stock worth $23,953,746. 0.81% of the stock is owned by company 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.