Clearbridge Investments LLC Buys 337,464 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Clearbridge Investments LLC boosted its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 14.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,656,828 shares of the data storage provider’s stock after purchasing an additional 337,464 shares during the quarter. Clearbridge Investments LLC’s holdings in Seagate Technology were worth $247,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Csenge Advisory Group increased its position in shares of Seagate Technology by 1.4% during the first quarter. Csenge Advisory Group now owns 8,473 shares of the data storage provider’s stock worth $788,000 after purchasing an additional 119 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Seagate Technology by 1.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 8,446 shares of the data storage provider’s stock valued at $786,000 after buying an additional 126 shares in the last quarter. Graypoint LLC increased its position in Seagate Technology by 4.9% during the 1st quarter. Graypoint LLC now owns 2,710 shares of the data storage provider’s stock valued at $252,000 after buying an additional 127 shares in the last quarter. CWM LLC raised its stake in Seagate Technology by 3.9% in the fourth quarter. CWM LLC now owns 3,441 shares of the data storage provider’s stock valued at $294,000 after buying an additional 130 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in Seagate Technology by 0.3% in the first quarter. Retirement Systems of Alabama now owns 43,005 shares of the data storage provider’s stock worth $4,002,000 after acquiring an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Trading Down 0.8 %

Seagate Technology stock traded down $0.88 during mid-day trading on Tuesday, hitting $105.30. The company had a trading volume of 3,679,110 shares, compared to its average volume of 2,575,662. The company has a market capitalization of $22.11 billion, a price-to-earnings ratio of -81.46 and a beta of 1.02. The company’s fifty day moving average is $100.63 and its 200-day moving average is $92.54. Seagate Technology Holdings plc has a 12-month low of $57.32 and a 12-month high of $109.63.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.30. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the company posted ($0.29) earnings per share. The business’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, sell-side analysts expect that Seagate Technology Holdings plc will post 0.44 EPS for the current fiscal year.

Insider Activity

In other news, EVP Ban Seng Teh sold 10,742 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $100.00, for a total value of $1,074,200.00. Following the completion of the sale, the executive vice president now directly owns 5,042 shares in the company, valued at $504,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Seagate Technology news, SVP John Christopher Morris sold 5,928 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $99.99, for a total transaction of $592,740.72. Following the completion of the sale, the senior vice president now directly owns 12,185 shares in the company, valued at approximately $1,218,378.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Ban Seng Teh sold 10,742 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $100.00, for a total value of $1,074,200.00. Following the sale, the executive vice president now owns 5,042 shares of the company’s stock, valued at $504,200. The disclosure for this sale can be found here. Insiders have sold 37,531 shares of company stock worth $3,592,946 in the last ninety days. Company insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on STX. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, April 24th. Mizuho lifted their price objective on shares of Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Citigroup upped their target price on Seagate Technology from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, July 12th. The Goldman Sachs Group lifted their price target on Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Loop Capital increased their price objective on Seagate Technology from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $102.71.

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.