Charles Schwab Investment Management Inc. Has $116.03 Million Stock Holdings in Seagate Technology Holdings PLC (NASDAQ:STX)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 0.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,365,906 shares of the data storage provider’s stock after buying an additional 3,007 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Seagate Technology were worth $116,034,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Capital Research Global Investors lifted its stake in Seagate Technology by 56.5% in the 4th quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider’s stock valued at $1,348,262,000 after purchasing an additional 5,640,443 shares during the last quarter. Marshall Wace LLP acquired a new stake in Seagate Technology in the 4th quarter valued at about $77,341,000. Vanguard Group Inc. lifted its stake in Seagate Technology by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider’s stock valued at $2,441,729,000 after purchasing an additional 769,009 shares during the last quarter. Junto Capital Management LP acquired a new stake in Seagate Technology in the 4th quarter valued at about $60,303,000. Finally, Janus Henderson Group PLC lifted its stake in Seagate Technology by 2,853.4% in the 4th quarter. Janus Henderson Group PLC now owns 670,976 shares of the data storage provider’s stock valued at $57,925,000 after purchasing an additional 648,257 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on STX shares. Cantor Fitzgerald upgraded shares of Seagate Technology from a “neutral” rating to an “overweight” rating and set a $175.00 target price for the company in a research note on Wednesday, July 30th. UBS Group increased their price target on shares of Seagate Technology from $85.00 to $155.00 and gave the company a “neutral” rating in a report on Monday, July 21st. BNP Paribas raised shares of Seagate Technology from a “strong sell” rating to a “hold” rating in a report on Friday, May 16th. Wells Fargo & Company increased their price target on shares of Seagate Technology from $122.00 to $160.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. Finally, Susquehanna increased their price target on shares of Seagate Technology from $68.00 to $80.00 and gave the company a “negative” rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $151.44.

Insiders Place Their Bets

In other Seagate Technology news, insider James Ci Lee sold 1,116 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $153.36, for a total value of $171,149.76. Following the sale, the insider owned 257 shares of the company’s stock, valued at approximately $39,413.52. This trade represents a 81.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jay L. Geldmacher sold 2,500 shares of the firm’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $150.50, for a total value of $376,250.00. Following the completion of the sale, the director directly owned 352 shares in the company, valued at approximately $52,976. This represents a 87.66% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 428,546 shares of company stock worth $52,912,056. 0.81% of the stock is owned by company insiders.

Seagate Technology Trading Up 0.8%

Shares of STX opened at $151.69 on Tuesday. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $157.62. The firm’s 50 day moving average is $142.32 and its 200-day moving average is $109.85. The stock has a market capitalization of $32.26 billion, a PE ratio of 22.41, a P/E/G ratio of 0.95 and a beta of 1.50.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.14. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the firm posted $1.05 earnings per share. The firm’s quarterly revenue was up 29.5% compared to the same quarter last year. Equities research analysts predict that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology’s dividend payout ratio (DPR) is currently 42.54%.

Seagate Technology announced that its board has authorized a share repurchase program on Thursday, May 22nd that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the data storage provider to buy up to 21.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.