First Trust Direct Indexing L.P. Acquires New Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

First Trust Direct Indexing L.P. acquired a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,555 shares of the data storage provider’s stock, valued at approximately $474,000.

A number of other institutional investors also recently bought and sold shares of STX. FMR LLC increased its position in shares of Seagate Technology by 13.1% during the 3rd quarter. FMR LLC now owns 13,929,708 shares of the data storage provider’s stock valued at $918,664,000 after purchasing an additional 1,612,264 shares during the last quarter. JPMorgan Chase & Co. grew its position in Seagate Technology by 9.2% during the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock valued at $1,166,022,000 after buying an additional 1,485,937 shares during the period. Massachusetts Financial Services Co. MA grew its position in Seagate Technology by 24.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,410,163 shares of the data storage provider’s stock valued at $158,950,000 after buying an additional 470,592 shares during the period. Linden Advisors LP purchased a new stake in Seagate Technology during the third quarter valued at approximately $26,591,000. Finally, Tudor Investment Corp Et Al raised its position in Seagate Technology by 1,469.1% in the third quarter. Tudor Investment Corp Et Al now owns 214,110 shares of the data storage provider’s stock worth $14,121,000 after acquiring an additional 229,749 shares during the period. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

Shares of STX stock opened at $87.50 on Monday. The company has a market cap of $18.37 billion, a PE ratio of -67.83, a price-to-earnings-growth ratio of 242.66 and a beta of 1.06. The stock’s 50 day simple moving average is $89.18 and its two-hundred day simple moving average is $83.63. Seagate Technology Holdings plc has a 1 year low of $54.47 and a 1 year high of $101.26.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. The business’s quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.43) EPS. Equities research analysts expect that Seagate Technology Holdings plc will post 0.3 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.20%. Seagate Technology’s dividend payout ratio is presently -217.05%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley raised shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $73.00 to $115.00 in a research report on Tuesday, March 26th. Benchmark reissued a “hold” rating on shares of Seagate Technology in a report on Wednesday, April 24th. BNP Paribas cut shares of Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price objective on the stock. in a research report on Thursday, January 11th. TD Cowen boosted their target price on shares of Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, UBS Group lifted their price target on shares of Seagate Technology from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $94.53.

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.