Seagate Technology Holdings PLC $STX Stock: Danske Bank A S Boosts Holdings

Danske Bank A S boosted its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 11.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,979 shares of the data storage provider’s stock after acquiring an additional 15,044 shares during the quarter. Danske Bank A S owned 0.06% of Seagate Technology worth $132,798,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Aberdeen Group plc grew its stake in shares of Seagate Technology by 1,752.1% in the third quarter. Aberdeen Group plc now owns 3,757,206 shares of the data storage provider’s stock worth $3,465,421,000 after purchasing an additional 3,554,342 shares during the last quarter. Wellington Management Group LLP raised its position in Seagate Technology by 2,655.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock worth $2,329,641,000 after purchasing an additional 2,326,538 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Seagate Technology by 3,872.1% during the 1st quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock worth $378,985,000 after buying an additional 943,170 shares during the period. Amundi lifted its holdings in Seagate Technology by 32.2% during the 1st quarter. Amundi now owns 965,565 shares of the data storage provider’s stock worth $378,267,000 after buying an additional 235,359 shares during the period. Finally, National Pension Service grew its position in shares of Seagate Technology by 0.8% in the 2nd quarter. National Pension Service now owns 834,705 shares of the data storage provider’s stock valued at $805,490,000 after buying an additional 6,944 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Evercore restated an “outperform” rating on shares of Seagate Technology in a research report on Wednesday, October 28th. Rosenblatt Securities reduced their target price on Seagate Technology from $1,400.00 to $1,100.00 and set a “buy” rating on the stock in a report on Monday, October 26th. Morgan Stanley decreased their target price on shares of Seagate Technology from $1,200.00 to $1,148.00 and set an “overweight” rating for the company in a research report on Wednesday, October 28th. UBS Group reissued a “buy” rating on shares of Seagate Technology in a research report on Monday, November 2nd. Finally, Zacks Research lowered shares of Seagate Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Twenty-three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,000.88.

Seagate Technology Stock Down 3.1%

NASDAQ:STX traded down $16.85 on Friday, hitting $528.29. The stock had a trading volume of 4,348,119 shares, compared to its average volume of 6,145,004. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.68. Seagate Technology Holdings PLC has a 52 week low of $228.61 and a 52 week high of $1,145.00. The business’s fifty day moving average is $740.61 and its 200 day moving average is $698.15. The company has a market cap of $121.27 billion, a PE ratio of 27.75 and a beta of 2.16.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, October 27th. The data storage provider reported $7.68 EPS for the quarter, beating the consensus estimate of $7.44 by $0.24. Seagate Technology had a return on equity of 252.47% and a net margin of 31.86%. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the previous year, the company posted $2.61 earnings per share. The company’s quarterly revenue was up 61.0% on a year-over-year basis. On average, equities research analysts expect that Seagate Technology Holdings PLC will post 37.96 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 23rd will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, December 23rd. This is an increase from Seagate Technology’s previous quarterly dividend of $0.74. Seagate Technology’s payout ratio is 15.97%.

Insiders Place Their Bets

In other Seagate Technology news, CEO William Mosley sold 6,720 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $622.82, for a total transaction of $4,185,350.40. Following the transaction, the chief executive officer owned 346,108 shares in the company, valued at approximately $215,562,984.56. This represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP James Lee sold 547 shares of the business’s stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $642.14, for a total transaction of $351,250.58. Following the sale, the executive vice president directly owned 1,037 shares of the company’s stock, valued at approximately $665,899.18. The trade was a 34.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 439,747 shares of company stock worth $349,271,735 in the last quarter. Insiders own 0.51% of the company’s stock.

Seagate Technology Company Profile

Seagate Technology develops and supplies data-storage products and solutions for businesses and consumers. Its portfolio includes hard disk drives (HDDs), solid-state drives, and storage systems designed for applications ranging from personal computing to large-scale data centers. The company’s products support cloud and enterprise storage, network-attached storage, video surveillance, gaming, and other uses that require digital data to be stored and accessed. Seagate also offers data-management and storage services through its Lyve platform.