Daiwa Securities Group Inc. Acquires 287 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Daiwa Securities Group Inc. raised its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 1.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,973 shares of the data storage provider’s stock after buying an additional 287 shares during the period. Daiwa Securities Group Inc.’s holdings in Seagate Technology were worth $3,064,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Algert Global LLC acquired a new position in shares of Seagate Technology during the 3rd quarter valued at about $612,000. Cerity Partners LLC raised its position in shares of Seagate Technology by 25.1% in the third quarter. Cerity Partners LLC now owns 35,794 shares of the data storage provider’s stock valued at $3,921,000 after purchasing an additional 7,177 shares during the period. Nwam LLC bought a new position in shares of Seagate Technology in the third quarter valued at approximately $472,000. GM Advisory Group LLC acquired a new stake in shares of Seagate Technology in the third quarter worth $210,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Seagate Technology by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,327,920 shares of the data storage provider’s stock valued at $145,447,000 after buying an additional 73,267 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Stock Down 1.6 %

Shares of STX opened at $100.00 on Thursday. The stock’s fifty day simple moving average is $104.68 and its 200-day simple moving average is $101.91. The firm has a market capitalization of $21.15 billion, a PE ratio of 26.54 and a beta of 1.05. Seagate Technology Holdings plc has a 12-month low of $76.30 and a 12-month high of $115.32.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the company posted ($0.34) EPS. The company’s revenue was up 49.1% compared to the same quarter last year. Analysts anticipate that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be paid a $0.72 dividend. The ex-dividend date is Friday, December 13th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.88%. Seagate Technology’s dividend payout ratio is 73.11%.

Insider Activity at Seagate Technology

In related news, EVP Ban Seng Teh sold 4,872 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $110.00, for a total transaction of $535,920.00. Following the sale, the executive vice president now owns 9,969 shares of the company’s stock, valued at approximately $1,096,590. This trade represents a 32.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William D. Mosley sold 141,785 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 668,616 shares of the company’s stock, valued at approximately $73,668,110.88. The trade was a 17.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 201,820 shares of company stock worth $21,892,856 in the last ninety days. Company insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

STX has been the subject of a number of research analyst reports. Evercore ISI boosted their target price 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. Wedbush reissued an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Northland Securities increased their target price on shares of Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Rosenblatt Securities lifted their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and a consensus price target of $118.83.

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.