Seagate Technology Holdings PLC (NASDAQ:STX) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 9.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,604 shares of the data storage provider’s stock after selling 832 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Seagate Technology were worth $646,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in STX. Capital Research Global Investors increased its position in Seagate Technology by 56.5% in the 4th quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider’s stock valued at $1,348,262,000 after acquiring an additional 5,640,443 shares during the period. Vanguard Group Inc. increased its position in shares of Seagate Technology by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider’s stock valued at $2,414,446,000 after purchasing an additional 1,814,821 shares during the period. Marshall Wace LLP acquired a new position in shares of Seagate Technology during the 4th quarter valued at $77,341,000. Junto Capital Management LP acquired a new position in shares of Seagate Technology during the 4th quarter valued at $60,303,000. Finally, Janus Henderson Group PLC increased its position in shares of Seagate Technology by 2,853.4% during the 4th quarter. Janus Henderson Group PLC now owns 670,976 shares of the data storage provider’s stock valued at $57,925,000 after purchasing an additional 648,257 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO William D. Mosley sold 70,000 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $109.47, for a total transaction of $7,662,900.00. Following the completion of the transaction, the chief executive officer now owns 485,677 shares of the company’s stock, valued at approximately $53,167,061.19. The trade was a 12.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ban Seng Teh sold 4,201 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $115.00, for a total value of $483,115.00. Following the transaction, the executive vice president now directly owns 22,999 shares of the company’s stock, valued at $2,644,885. This represents a 15.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 393,791 shares of company stock valued at $46,380,998 over the last quarter. Insiders own 0.81% of the company’s stock.

Seagate Technology Stock Up 0.3%

Shares of Seagate Technology stock opened at $131.30 on Thursday. The stock has a market cap of $27.86 billion, a PE ratio of 18.97 and a beta of 1.40. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $133.76. The business has a fifty day simple moving average of $102.48 and a 200-day simple moving average of $95.74.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. Seagate Technology had a negative return on equity of 105.02% and a net margin of 17.49%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the firm earned $0.33 earnings per share. The business’s revenue for the quarter was up 30.5% on a year-over-year basis. Analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology declared that its board has authorized a stock repurchase program on Thursday, May 22nd that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the data storage provider to reacquire up to 21.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be given a $0.72 dividend. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.19%. Seagate Technology’s dividend payout ratio is currently 41.62%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on STX shares. BNP Paribas upgraded Seagate Technology from a “strong sell” rating to a “hold” rating in a research report on Friday, May 16th. UBS Group lifted their price target on Seagate Technology from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Bank of America lifted their price target on Seagate Technology from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, June 9th. Barclays lifted their price target on Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 30th. Finally, Wedbush reiterated an “outperform” rating and set a $140.00 price target on shares of Seagate Technology in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Seagate Technology has a consensus rating of “Moderate Buy” and an average target price of $119.42.

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.