Asset Management One Co. Ltd. Has $8.39 Million Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Asset Management One Co. Ltd. reduced its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,623 shares of the data storage provider’s stock after selling 904 shares during the period. Asset Management One Co. Ltd.’s holdings in Seagate Technology were worth $8,393,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in 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 purchasing an additional 746,395 shares during the last quarter. Clearbridge Investments LLC boosted its position in Seagate Technology by 14.5% during the first quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock valued at $247,218,000 after purchasing an additional 337,464 shares during the last quarter. Duquesne Family Office LLC boosted its position in Seagate Technology by 22.0% during the second quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock valued at $181,268,000 after purchasing an additional 316,295 shares during the last quarter. Dimensional Fund Advisors LP boosted its position 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 valued at $105,306,000 after purchasing an additional 9,062 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Seagate Technology by 6.2% during the first 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. 92.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the sale, the director now directly owns 3,034 shares in the company, valued at $291,567.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the sale, the director now directly owns 3,034 shares in the company, valued at approximately $291,567.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ban Seng Teh sold 4,872 shares of the stock in a transaction dated 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 192,638 shares of company stock worth $20,924,155. Corporate insiders own 0.81% of the company’s stock.

Analyst Ratings Changes

STX has been the topic of several research analyst reports. Robert W. Baird upped their price objective on Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Susquehanna upped their price objective on Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a research note on Wednesday, July 24th. UBS Group upped their price objective on Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research note 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 research note on Wednesday, July 24th. Finally, Wedbush restated an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.83.

Seagate Technology Price Performance

Shares of STX stock opened at $105.11 on Friday. The company’s fifty day simple moving average is $104.95 and its two-hundred day simple moving average is $100.67. Seagate Technology Holdings plc has a 1 year low of $70.41 and a 1 year high of $115.32. The stock has a market capitalization of $22.23 billion, a price-to-earnings ratio of 27.44 and a beta of 1.05.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.28. The firm had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The business’s quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.34) earnings per share. Equities research analysts anticipate that Seagate Technology Holdings plc will post 7.35 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be given a $0.72 dividend. The ex-dividend date is Friday, December 13th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 2.74%. Seagate Technology’s payout ratio is 73.11%.

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.