Maverick Capital Ltd. Has $47.85 Million Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Maverick Capital Ltd. lessened its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 59.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 436,840 shares of the data storage provider’s stock after selling 651,431 shares during the quarter. Maverick Capital Ltd. owned 0.21% of Seagate Technology worth $47,847,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new position in Seagate Technology during the third quarter worth $26,000. Quarry LP acquired a new position in Seagate Technology during the second quarter worth $27,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Seagate Technology by 2,407.1% during 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 last quarter. Family Firm Inc. acquired a new position in Seagate Technology during the second quarter worth $41,000. Finally, Advisors Asset Management Inc. boosted its holdings in Seagate Technology by 177.9% during the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after purchasing an additional 258 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Transactions at Seagate Technology

In related news, 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ban Seng Teh sold 4,872 shares of Seagate Technology stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total transaction of $535,920.00. Following the completion of the sale, the executive vice president now directly owns 9,969 shares of the company’s stock, valued at approximately $1,096,590. The trade was a 32.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 201,820 shares of company stock valued at $21,892,856 in the last quarter. 0.81% of the stock is currently owned by company insiders.

Seagate Technology Stock Performance

STX stock opened at $101.33 on Friday. The company’s 50-day simple moving average is $104.51 and its 200 day simple moving average is $101.94. Seagate Technology Holdings plc has a 52 week low of $76.87 and a 52 week high of $115.32. The company has a market capitalization of $21.43 billion, a PE ratio of 26.46 and a beta of 1.05.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business earned ($0.34) EPS. The company’s revenue was up 49.1% compared to the same quarter last year. On average, analysts forecast that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be given a dividend of $0.72 per share. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. This represents a $2.88 annualized dividend and a dividend yield of 2.84%. Seagate Technology’s dividend payout ratio (DPR) is 75.20%.

Wall Street Analyst Weigh In

Several research analysts recently commented on STX shares. Rosenblatt Securities increased their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Evercore ISI upped their price target on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. Wedbush reaffirmed an “outperform” rating and set a $150.00 price target on shares of Seagate Technology in a research report on Wednesday, October 23rd. Finally, Northland Securities upped their price target on shares of Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $118.83.

About Seagate Technology

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.