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

Posted by Defense World Staff on Apr 21st, 2023

Natixis Advisors L.P. grew its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) by 21.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its position in shares of Seagate Technology by 16.3% in the third quarter. State Street Corp now owns 8,951,455 shares of the data storage provider’s stock worth $482,736,000 after purchasing an additional 1,256,349 shares during the last quarter. Sanders Capital LLC boosted its stake in Seagate Technology by 0.4% in 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. Bank of New York Mellon Corp boosted its stake in Seagate Technology by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 3,923,276 shares of the data storage provider’s stock worth $208,837,000 after buying an additional 46,507 shares in the last quarter. Invesco Ltd. boosted its stake in Seagate Technology by 4.4% in the first quarter. Invesco Ltd. now owns 1,843,144 shares of the data storage provider’s stock worth $165,698,000 after buying an additional 78,298 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Seagate Technology by 328.3% in the third quarter. Renaissance Technologies LLC now owns 1,266,366 shares of the data storage provider’s stock worth $67,409,000 after buying an additional 970,673 shares in the last quarter. 82.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Jeffrey D. Nygaard sold 36,809 shares of Seagate Technology 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 approximately $2,099,090.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on STX shares. UBS Group upped 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. Evercore ISI upped their target price on Seagate Technology from $60.00 to $70.00 in a research note on Thursday, January 26th. StockNews.com raised Seagate Technology from a “sell” rating to a “hold” rating in a research note on Tuesday, April 11th. Rosenblatt Securities upped 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. Finally, Credit Suisse Group increased their price objective on Seagate Technology from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 24th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $68.75.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $57.08 on Friday. 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. The company has a market capitalization of $11.79 billion, a PE ratio of 20.31, a PEG ratio of 64.29 and a beta of 1.09.

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

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Wednesday, June 21st will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.91%. Seagate Technology’s payout ratio is 99.64%.

Seagate Technology Company 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.