Quantinno Capital Management LP Has $3.05 Million Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Quantinno Capital Management LP lifted its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 52.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,378 shares of the data storage provider’s stock after purchasing an additional 12,190 shares during the period. Quantinno Capital Management LP’s holdings in Seagate Technology were worth $3,054,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. JFS Wealth Advisors LLC increased its position in Seagate Technology by 27.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock worth $46,000 after purchasing an additional 113 shares during the period. Human Investing LLC acquired a new stake in Seagate Technology in the fourth quarter worth about $48,000. Mizuho Bank Ltd. increased its position in Seagate Technology by 140.0% in the fourth quarter. Mizuho Bank Ltd. now owns 600 shares of the data storage provider’s stock worth $52,000 after purchasing an additional 350 shares during the period. Johnson Financial Group Inc. grew its stake in shares of Seagate Technology by 22.7% during the fourth quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider’s stock worth $52,000 after purchasing an additional 112 shares during the period. Finally, S.A. Mason LLC acquired a new stake in shares of Seagate Technology during the fourth quarter worth $55,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on STX shares. Mizuho decreased their price objective on Seagate Technology from $115.00 to $95.00 and set an “outperform” rating for the company in a research note on Thursday, April 10th. StockNews.com cut Seagate Technology from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Bank of America decreased their price objective on Seagate Technology from $130.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Northland Securities reaffirmed an “outperform” rating and set a $160.00 price objective (up from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. Finally, Barclays lifted their price objective on Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th. One research 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $114.37.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $109.04 on Tuesday. The firm has a market cap of $23.14 billion, a price-to-earnings ratio of 19.93 and a beta of 1.32. The stock’s 50-day moving average is $85.01 and its 200-day moving average is $92.42. Seagate Technology Holdings plc has a one year low of $63.19 and a one year high of $115.32.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 earnings per share. On average, equities analysts expect that Seagate Technology Holdings plc will post 6.83 EPS for the current year.

Seagate Technology Dividend Announcement

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 issued a dividend of $0.72 per share. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 annualized dividend and a yield of 2.64%. Seagate Technology’s payout ratio is presently 41.62%.

Insider Buying and Selling

In related news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 555,677 shares in the company, valued at approximately $46,988,047.12. This represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.81% of the stock is currently owned by corporate 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.