Natixis Advisors L.P. Boosts Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Natixis Advisors L.P. grew its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) by 21.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 19,957 shares of the data storage provider’s stock after buying an additional 3,578 shares during the period. Natixis Advisors L.P.’s holdings in Seagate Technology were worth $1,050,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in STX. State Street Corp raised its stake in Seagate Technology by 16.3% during the 3rd quarter. State Street Corp now owns 8,951,455 shares of the data storage provider’s stock valued at $482,736,000 after purchasing an additional 1,256,349 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Seagate Technology in the 3rd quarter worth approximately $58,716,000. Renaissance Technologies LLC increased its stake in Seagate Technology by 328.3% in the 3rd quarter. Renaissance Technologies LLC now owns 1,266,366 shares of the data storage provider’s stock worth $67,409,000 after acquiring an additional 970,673 shares during the last quarter. Victory Capital Management Inc. increased its stake in Seagate Technology by 264.2% in the 3rd quarter. Victory Capital Management Inc. now owns 547,594 shares of the data storage provider’s stock worth $29,148,000 after acquiring an additional 397,221 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in Seagate Technology in the 3rd quarter worth approximately $16,411,000. 82.69% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $57.08 on Friday. The stock has a market capitalization of $11.79 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 64.29 and a beta of 1.09. Seagate Technology Holdings plc has a 1-year low of $47.47 and a 1-year high of $88.25. The business has a fifty day moving average price of $64.64 and a 200 day moving average price of $58.91.

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Seagate Technology (NASDAQ:STX – Get Rating) last issued its quarterly earnings data on Thursday, April 20th. The data storage provider reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.49). The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Seagate Technology had a negative return on equity of 1,031.05% and a net margin of 6.61%. The company’s revenue for the quarter was down 33.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.65 earnings per share. As a group, equities research analysts anticipate that Seagate Technology Holdings plc will post 0.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 21st will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.91%. Seagate Technology’s dividend payout ratio (DPR) is presently 99.64%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Jeffrey D. Nygaard sold 36,809 shares of the stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $69.14, for a total value of $2,544,974.26. Following the completion of the sale, the executive vice president now directly owns 30,360 shares in the company, valued at $2,099,090.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Summit Insights raised Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, January 26th. Morgan Stanley boosted their target price on Seagate Technology from $69.00 to $72.00 in a research report on Thursday, January 26th. Wells Fargo & Company boosted their target price on Seagate Technology from $55.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday, January 26th. Cowen boosted their target price on Seagate Technology from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, January 26th. Finally, Barclays boosted their target price on Seagate Technology from $70.00 to $75.00 in a research report on Thursday, January 26th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Seagate Technology has an average rating of “Hold” and an average target price of $68.75.

Seagate Technology Profile

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Seagate Technology Holdings Plc operates as holding company that is engaged in the development, production, and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid state hybrid drives, solid state drives, peripheral component interconnect express cards, serial advanced technology attachment controllers, storage subsystems and computing solutions.