Tybourne Capital Management HK Ltd. Purchases 8,203 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Tybourne Capital Management HK Ltd. increased its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 25.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,994 shares of the data storage provider’s stock after purchasing an additional 8,203 shares during the period. Seagate Technology makes up about 1.2% of Tybourne Capital Management HK Ltd.’s holdings, making the stock its 12th biggest position. Tybourne Capital Management HK Ltd.’s holdings in Seagate Technology were worth $4,381,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new stake in shares of Seagate Technology in the 3rd quarter valued at $26,000. Quarry LP bought a new position in Seagate Technology during the second quarter worth $27,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Seagate Technology by 2,407.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 337 shares during the period. Family Firm Inc. bought a new stake in Seagate Technology in the second quarter valued at $41,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of Seagate Technology by 177.9% during the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after purchasing an additional 258 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Insider Transactions at Seagate Technology

In other news, SVP John Christopher Morris sold 1,131 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total value of $126,558.90. Following the completion of the transaction, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at $804,672.90. This trade represents a 13.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the transaction, the director now owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. This trade represents a 19.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 201,820 shares of company stock worth $21,892,856 over the last quarter. Corporate insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on STX shares. StockNews.com upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Northland Securities raised their price objective on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Evercore ISI boosted their price objective on Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Rosenblatt Securities increased their target price on Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Citigroup lifted their price target on shares of Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $118.83.

Seagate Technology Stock Down 1.6 %

Shares of STX stock opened at $100.00 on Thursday. Seagate Technology Holdings plc has a 12-month low of $76.30 and a 12-month high of $115.32. The company has a 50 day moving average of $104.66 and a 200-day moving average of $101.90. The firm has a market cap of $21.15 billion, a P/E ratio of 26.11 and a beta of 1.05.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.28. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business’s revenue was up 49.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.34) earnings per share. As a group, equities analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Friday, December 13th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio (DPR) is currently 73.11%.

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.