Seagate Technology Holdings plc (NASDAQ:STX) Shares Acquired by TCW Group Inc.

TCW Group Inc. boosted its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 62.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 359,042 shares of the data storage provider's stock after acquiring an additional 138,001 shares during the quarter. TCW Group Inc. owned 0.17% of Seagate Technology worth $39,326,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in shares of Seagate Technology by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider's stock valued at $454,477,000 after acquiring an additional 318,416 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Seagate Technology in the 3rd quarter valued at $612,000. Nomura Asset Management Co. Ltd. raised its stake in shares of Seagate Technology by 4.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 91,468 shares of the data storage provider's stock worth $10,018,000 after purchasing an additional 4,155 shares during the last quarter. MML Investors Services LLC increased its stake in shares of Seagate Technology by 32.7% in the third quarter. MML Investors Services LLC now owns 19,283 shares of the data storage provider's stock worth $2,112,000 after acquiring an additional 4,751 shares during the period. Finally, Dorsey Wright & Associates purchased a new position in shares of Seagate Technology during the 3rd quarter valued at about $272,000. Institutional investors own 92.87% of the company's stock.

Seagate Technology Stock Performance

Shares of STX stock traded up $0.80 on Wednesday, hitting $98.39. 2,555,595 shares of the stock traded hands, compared to its average volume of 2,486,325. Seagate Technology Holdings plc has a twelve month low of $79.39 and a twelve month high of $115.32. The firm's 50-day moving average price is $103.23 and its two-hundred day moving average price is $102.19. The stock has a market capitalization of $20.81 billion, a PE ratio of 25.50 and a beta of 1.03.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating 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 net margin of 11.34% and a negative return on equity of 32.19%. Seagate Technology's revenue was up 49.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.34) EPS. On average, equities research analysts anticipate that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be given a $0.72 dividend. The ex-dividend date is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a yield of 2.93%. This is an increase from Seagate Technology's previous quarterly dividend of $0.70. Seagate Technology's payout ratio is currently 73.11%.

Insider Activity

In related news, CEO William D. Mosley sold 141,785 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the transaction, the chief executive officer now owns 668,616 shares of the company's stock, valued at approximately $73,668,110.88. This represents a 17.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ban Seng Teh sold 4,872 shares of Seagate Technology stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.00, for a total value of $535,920.00. Following the completion of the transaction, the executive vice president now directly owns 9,969 shares of the company's stock, valued at approximately $1,096,590. This represents a 32.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 221,820 shares of company stock valued at $23,953,746 in the last quarter. Insiders own 0.81% of the company's stock.

Wall Street Analyst Weigh In

STX has been the topic of a number of recent analyst reports. StockNews.com raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a report on Thursday, October 17th. Citigroup increased their target price on Seagate Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Cantor Fitzgerald restated a "neutral" rating and set a $125.00 price objective on shares of Seagate Technology in a research report on Wednesday, October 23rd. Rosenblatt Securities lifted their target price 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. Finally, Benchmark restated a "hold" rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $118.83.

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.