Meiji Yasuda Asset Management Co Ltd. Buys 579 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 13.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,003 shares of the data storage provider’s stock after acquiring an additional 579 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Seagate Technology were worth $517,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of STX. Vanguard Group Inc. grew its holdings in Seagate Technology by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock worth $2,303,274,000 after acquiring an additional 746,395 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Seagate Technology by 39.3% during the fourth quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock valued at $1,418,413,000 after purchasing an additional 4,685,454 shares in the last quarter. Sanders Capital LLC increased its holdings in Seagate Technology by 3.0% during the fourth quarter. Sanders Capital LLC now owns 15,486,153 shares of the data storage provider’s stock valued at $1,322,053,000 after buying an additional 443,768 shares during the period. Clearbridge Investments LLC raised its stake in Seagate Technology by 14.5% in the first quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock worth $247,218,000 after buying an additional 337,464 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Seagate Technology by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,019,657 shares of the data storage provider’s stock worth $105,306,000 after buying an additional 9,062 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

STX has been the subject of several recent research reports. UBS Group boosted their price target on Seagate Technology from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Northland Securities boosted their target price on shares of Seagate Technology from $119.00 to $142.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Susquehanna raised their price target on shares of Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a report on Wednesday, July 24th. Robert W. Baird boosted their price objective on shares of Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Loop Capital raised their target price on shares of Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $115.94.

Seagate Technology Price Performance

STX stock opened at $104.74 on Friday. The company has a market capitalization of $22.05 billion, a P/E ratio of -81.19 and a beta of 1.03. Seagate Technology Holdings plc has a 12 month low of $63.32 and a 12 month high of $113.57. The firm’s fifty day simple moving average is $101.15 and its 200-day simple moving average is $96.54.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.29. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.29) EPS. As a group, sell-side analysts forecast that Seagate Technology Holdings plc will post 6.72 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Monday, September 23rd. Seagate Technology’s payout ratio is presently -217.05%.

Insider Transactions at Seagate Technology

In other Seagate Technology 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 transaction, the director now owns 3,034 shares of the company’s stock, valued at $291,567.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the sale, the director now directly owns 3,034 shares of the company’s stock, valued at $291,567.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Gianluca Romano sold 25,760 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $94.54, for a total value of $2,435,350.40. Following the transaction, the chief financial officer now directly owns 52,620 shares of the company’s stock, valued at $4,974,694.80. The disclosure for this sale can be found here. Insiders have sold 56,627 shares of company stock valued at $5,489,495 in the last 90 days. 0.89% of the stock is currently owned by company insiders.

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.