Seagate Technology Holdings plc (NASDAQ:STX) Shares Acquired by Verition Fund Management LLC

Posted by Defense World Staff on Mar 5th, 2023

Verition Fund Management LLC lifted its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) by 227.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,599 shares of the data storage provider’s stock after buying an additional 8,755 shares during the quarter. Verition Fund Management LLC’s holdings in Seagate Technology were worth $671,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in shares of Seagate Technology by 10.8% during the second quarter. JPMorgan Chase & Co. now owns 14,358,118 shares of the data storage provider’s stock worth $1,025,744,000 after buying an additional 1,400,931 shares in the last quarter. FMR LLC grew its position in shares of Seagate Technology by 14.5% during the second quarter. FMR LLC now owns 8,827,629 shares of the data storage provider’s stock worth $630,645,000 after buying an additional 1,118,373 shares in the last quarter. Sanders Capital LLC grew its position in shares of Seagate Technology by 0.4% during the third quarter. Sanders Capital LLC now owns 5,772,340 shares of the data storage provider’s stock worth $307,262,000 after buying an additional 23,318 shares in the last quarter. Legal & General Group Plc lifted its stake in Seagate Technology by 1.5% during the second quarter. Legal & General Group Plc now owns 2,167,756 shares of the data storage provider’s stock worth $154,865,000 after purchasing an additional 33,081 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Seagate Technology by 4.4% during the first quarter. Invesco Ltd. now owns 1,843,144 shares of the data storage provider’s stock worth $165,698,000 after purchasing an additional 78,298 shares during the last quarter. 82.69% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Trading Down 0.4 %

Shares of STX stock opened at $64.57 on Friday. The business’s fifty day moving average price is $62.86 and its 200 day moving average price is $59.65. Seagate Technology Holdings plc has a 1-year low of $47.47 and a 1-year high of $104.40. The firm has a market capitalization of $13.33 billion, a PE ratio of 22.98, a P/E/G ratio of 54.56 and a beta of 1.07. The company has a debt-to-equity ratio of 46.44, a current ratio of 1.13 and a quick ratio of 0.69.

Seagate Technology (NASDAQ:STX – Get Rating) last announced its quarterly earnings data on Wednesday, January 25th. The data storage provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. Seagate Technology had a negative return on equity of 1,031.05% and a net margin of 6.61%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the prior year, the company posted $2.28 earnings per share. Seagate Technology’s quarterly revenue was down 39.4% on a year-over-year basis. As a group, sell-side analysts forecast that Seagate Technology Holdings plc will post 0.98 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6th. Investors of record on Wednesday, March 22nd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Tuesday, March 21st. Seagate Technology’s dividend payout ratio is presently 99.64%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Northland Securities boosted their target price on Seagate Technology from $70.00 to $74.00 and gave the stock an “outperform” rating in a research note on Thursday, January 26th. Evercore ISI boosted their target price on Seagate Technology from $60.00 to $70.00 in a research note on Thursday, January 26th. Rosenblatt Securities boosted their target price on Seagate Technology from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, January 26th. UBS Group boosted their target price on Seagate Technology from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Thursday, January 26th. Finally, Summit Insights upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, January 26th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Seagate Technology presently has an average rating of “Hold” and an average price target of $69.58.

Insider Buying and Selling

In other Seagate Technology news, EVP Jeffrey D. Nygaard sold 36,809 shares of the company’s stock in a transaction on 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 sale, the executive vice president now owns 30,360 shares of the company’s stock, valued at $2,099,090.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Seagate Technology Company Profile

(Get Rating)

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.