DigitalBridge Group Inc. Has $41.30 Million Position in Seagate Technology Holdings plc (NASDAQ:STX)

DigitalBridge Group Inc. increased its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 69.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 478,490 shares of the data storage provider’s stock after acquiring an additional 195,282 shares during the period. Seagate Technology comprises 2.9% of DigitalBridge Group Inc.’s holdings, making the stock its 11th largest holding. DigitalBridge Group Inc. owned approximately 0.23% of Seagate Technology worth $41,298,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC increased its stake in shares of Seagate Technology by 27.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock valued at $46,000 after purchasing an additional 113 shares during the last quarter. Human Investing LLC bought a new position in Seagate Technology in the fourth quarter valued at about $48,000. Mizuho Bank Ltd. raised its stake in Seagate Technology by 140.0% during the fourth quarter. Mizuho Bank Ltd. now owns 600 shares of the data storage provider’s stock worth $52,000 after acquiring an additional 350 shares in the last quarter. Johnson Financial Group Inc. lifted its holdings in shares of Seagate Technology by 22.7% in the fourth quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider’s stock worth $52,000 after acquiring an additional 112 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Seagate Technology in the 3rd quarter valued at approximately $54,000. 92.87% of the stock is owned by institutional investors.

Seagate Technology Trading Up 0.3 %

Shares of STX opened at $93.90 on Wednesday. The firm’s fifty day simple moving average is $82.99 and its two-hundred day simple moving average is $92.56. Seagate Technology Holdings plc has a 12 month low of $63.19 and a 12 month high of $115.32. The stock has a market capitalization of $19.88 billion, a P/E ratio of 17.17 and a beta of 1.32.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.75 by $0.15. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the prior year, the company earned $0.33 EPS. The firm’s revenue for the quarter was up 30.5% compared to the same quarter last year. As a group, research analysts predict that Seagate Technology Holdings plc will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.07%. Seagate Technology’s payout ratio is presently 41.62%.

Analyst Upgrades and Downgrades

STX has been the subject of several research reports. Northland Securities reissued an “outperform” rating and issued a $160.00 price objective (up previously from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. Benchmark upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Wednesday, January 22nd. UBS Group boosted their price objective on Seagate Technology from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Susquehanna lifted their price target on Seagate Technology from $65.00 to $68.00 and gave the company a “negative” rating in a research note on Wednesday, January 22nd. Finally, Summit Insights raised Seagate Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and a consensus price target of $114.89.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the completion of the sale, the chief executive officer now owns 555,677 shares in the company, valued at $46,988,047.12. The trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.81% of the stock is owned by insiders.

Seagate Technology 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.