Daiwa Securities Group Inc. Acquires 4,419 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Daiwa Securities Group Inc. lifted its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 19.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,686 shares of the data storage provider’s stock after purchasing an additional 4,419 shares during the period. Daiwa Securities Group Inc.’s holdings in Seagate Technology were worth $2,859,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Capital Research Global Investors increased its position 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 buying an additional 4,685,454 shares during the period. Norges Bank bought a new stake in shares of Seagate Technology during the fourth quarter valued at about $188,834,000. Vanguard Group Inc. increased its position in shares of Seagate Technology by 3.1% during the first 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. Wells Fargo & Company MN increased its position in shares of Seagate Technology by 83.2% during the fourth quarter. Wells Fargo & Company MN now owns 1,014,075 shares of the data storage provider’s stock valued at $86,572,000 after buying an additional 460,599 shares during the period. Finally, Mizuho Markets Americas LLC increased its position in shares of Seagate Technology by 321.7% during the fourth quarter. Mizuho Markets Americas LLC now owns 586,120 shares of the data storage provider’s stock valued at $50,037,000 after buying an additional 447,120 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Price Performance

Shares of STX opened at $102.13 on Friday. The firm has a market cap of $21.50 billion, a P/E ratio of -79.17 and a beta of 1.03. The stock has a 50 day simple moving average of $101.44 and a two-hundred day simple moving average of $96.15. Seagate Technology Holdings plc has a 1 year low of $63.22 and a 1 year high of $113.57.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data 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. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.29) earnings per share. On average, equities analysts anticipate that Seagate Technology Holdings plc will post 6.72 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 23rd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s dividend payout ratio (DPR) is presently -217.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Citigroup upped their price target on Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. TD Cowen boosted their price objective on Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Mizuho boosted their price objective on Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Morgan Stanley boosted their price objective on Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Rosenblatt Securities boosted their price objective on Seagate Technology from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $115.94.

Insider Activity

In other news, CFO Gianluca Romano sold 25,760 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $94.54, for a total transaction of $2,435,350.40. Following the completion of the sale, the chief financial officer now owns 52,620 shares of the company’s stock, valued at $4,974,694.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the completion of the transaction, the chief executive officer now owns 654,270 shares in the company, valued at $61,148,074.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Gianluca Romano sold 25,760 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were 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 owns 52,620 shares of the company’s stock, valued at approximately $4,974,694.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,627 shares of company stock valued at $5,489,495. 0.89% of the stock is currently owned by company insiders.

Seagate Technology 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.