Trexquant Investment LP Purchases 15,984 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Trexquant Investment LP lifted its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 77.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,657 shares of the data storage provider’s stock after buying an additional 15,984 shares during the period. Trexquant Investment LP’s holdings in Seagate Technology were worth $3,129,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in STX. Norges Bank bought a new stake in shares of Seagate Technology in the 4th quarter valued at about $188,834,000. FMR LLC grew its stake in Seagate Technology by 13.1% in the 3rd quarter. FMR LLC now owns 13,929,708 shares of the data storage provider’s stock valued at $918,664,000 after buying an additional 1,612,264 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Seagate Technology by 9.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock valued at $1,166,022,000 after buying an additional 1,485,937 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Seagate Technology by 24.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,410,163 shares of the data storage provider’s stock valued at $158,950,000 after buying an additional 470,592 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in Seagate Technology by 83.2% in the 4th quarter. Wells Fargo & Company MN now owns 1,014,075 shares of the data storage provider’s stock valued at $86,572,000 after buying an additional 460,599 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Up 0.8 %

NASDAQ:STX traded up $0.73 during trading hours on Friday, reaching $94.19. 1,301,748 shares of the stock were exchanged, compared to its average volume of 2,094,618. The stock has a market capitalization of $19.78 billion, a P/E ratio of -73.02, a P/E/G ratio of 191.19 and a beta of 1.06. Seagate Technology Holdings plc has a 52 week low of $57.06 and a 52 week high of $101.26. The firm has a 50 day simple moving average of $89.73 and a 200-day simple moving average of $86.07.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the firm posted ($0.43) EPS. The business’s quarterly revenue was down 11.0% compared to the same quarter last year. As a group, analysts expect that Seagate Technology Holdings plc will post 0.4 earnings per share for the current year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s payout ratio is currently -217.05%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 9,703 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total transaction of $921,785.00. Following the sale, the executive vice president now owns 15,185 shares of the company’s stock, valued at $1,442,575. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total value of $1,004,220.00. Following the transaction, the senior vice president now owns 17,767 shares in the company, valued at approximately $1,599,030. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ban Seng Teh sold 9,703 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total transaction of $921,785.00. Following the completion of the transaction, the executive vice president now owns 15,185 shares in the company, valued at approximately $1,442,575. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

STX has been the topic of several analyst reports. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, April 24th. Cantor Fitzgerald increased their price target on shares of Seagate Technology from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Morgan Stanley upgraded shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $73.00 to $115.00 in a research report on Tuesday, March 26th. Citigroup assumed coverage on shares of Seagate Technology in a research note on Tuesday, May 14th. They issued a “buy” rating and a $110.00 price objective for the company. Finally, The Goldman Sachs Group increased their price objective on shares of Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $95.50.

Seagate Technology Company 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.