Sumitomo Mitsui DS Asset Management Company Ltd Has $4.89 Million Position in Seagate Technology Holdings plc (NASDAQ:STX)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 5.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,605 shares of the data storage provider’s stock after buying an additional 2,253 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Seagate Technology were worth $4,886,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Seagate Technology by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock valued at $2,303,274,000 after buying an additional 746,395 shares during the period. Clearbridge Investments LLC increased its position 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 purchasing an additional 337,464 shares during the period. Duquesne Family Office LLC raised its holdings in Seagate Technology by 22.0% during the 2nd quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock worth $181,268,000 after purchasing an additional 316,295 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Seagate Technology by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,019,657 shares of the data storage provider’s stock valued at $105,306,000 after purchasing an additional 9,062 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Seagate Technology by 6.2% in the 1st quarter. Russell Investments Group Ltd. now owns 688,996 shares of the data storage provider’s stock valued at $64,130,000 after purchasing an additional 40,100 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

Seagate Technology stock opened at $112.12 on Friday. The company has a market cap of $23.60 billion, a price-to-earnings ratio of 72.81 and a beta of 1.04. The firm has a 50-day moving average of $104.29 and a 200-day moving average of $99.16. Seagate Technology Holdings plc has a one year low of $64.12 and a one year high of $115.32.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.29. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the company earned ($0.29) earnings per share. The business’s revenue was up 17.8% compared to the same quarter last year. As a group, sell-side analysts expect that Seagate Technology Holdings plc will post 7.09 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 23rd were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.50%. The ex-dividend date was Monday, September 23rd. Seagate Technology’s dividend payout ratio (DPR) is currently 181.82%.

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 10,117 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total value of $1,112,870.00. Following the sale, the executive vice president now directly owns 5,387 shares of the company’s stock, valued at approximately $592,570. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Seagate Technology news, CEO William D. Mosley sold 141,785 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.18, for a total value of $15,621,871.30. Following the transaction, the chief executive officer now directly owns 668,616 shares of the company’s stock, valued at $73,668,110.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ban Seng Teh sold 10,117 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the sale, the executive vice president now owns 5,387 shares of the company’s stock, valued at $592,570. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 223,284 shares of company stock worth $23,800,887 over the last quarter. 0.81% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on STX. TD Cowen boosted their price target on shares of Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Citigroup upped their target price on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Rosenblatt Securities raised their price target on Seagate Technology from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Morgan Stanley upped their price objective on Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Barclays increased their target price on Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $115.94.

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.