Seagate Technology Holdings PLC (NASDAQ:STX) Shares Purchased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. grew its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 5.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,021 shares of the data storage provider's stock after acquiring an additional 4,799 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Seagate Technology were worth $7,562,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Johnson Financial Group Inc. grew its stake in Seagate Technology by 22.7% during the 4th quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider's stock valued at $52,000 after purchasing an additional 112 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Seagate Technology by 2.3% in the 4th quarter. Signaturefd LLC now owns 4,988 shares of the data storage provider's stock valued at $431,000 after buying an additional 113 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Seagate Technology by 0.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,098 shares of the data storage provider's stock valued at $1,562,000 after purchasing an additional 120 shares during the period. 1620 Investment Advisors Inc. boosted its holdings in shares of Seagate Technology by 2.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 4,835 shares of the data storage provider's stock valued at $417,000 after acquiring an additional 123 shares during the period. Finally, Level Four Advisory Services LLC grew its position in Seagate Technology by 4.1% in the 4th quarter. Level Four Advisory Services LLC now owns 3,343 shares of the data storage provider's stock worth $289,000 after purchasing an additional 131 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on STX shares. BNP Paribas Exane raised Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 price target for the company in a research note on Friday, May 16th. Mizuho cut their target price on Seagate Technology from $115.00 to $95.00 and set an "outperform" rating on the stock in a research report on Thursday, April 10th. BNP Paribas upgraded shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a report on Friday, May 16th. Rosenblatt Securities reiterated a "buy" rating and issued a $130.00 target price on shares of Seagate Technology in a report on Friday, May 23rd. Finally, Cantor Fitzgerald upped their price target on shares of Seagate Technology from $110.00 to $125.00 and gave the stock a "neutral" rating in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $119.42.

Insider Activity

In related news, Director Judy Bruner sold 10,446 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $108.71, for a total value of $1,135,584.66. Following the sale, the director now directly owns 12,268 shares of the company's stock, valued at $1,333,654.28. This trade represents a 45.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO William D. Mosley sold 54,347 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $130.19, for a total transaction of $7,075,435.93. Following the completion of the sale, the chief executive officer now owns 515,677 shares in the company, valued at approximately $67,135,988.63. The trade was a 9.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 393,791 shares of company stock valued at $46,380,998. 0.81% of the stock is owned by insiders.

Seagate Technology Stock Performance

Shares of Seagate Technology stock opened at $141.44 on Friday. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $142.47. The firm has a market cap of $30.02 billion, a PE ratio of 20.44 and a beta of 1.40. The business's 50 day simple moving average is $111.34 and its 200 day simple moving average is $97.53.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.15. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Seagate Technology had a negative return on equity of 105.02% and a net margin of 17.49%. The business's quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 EPS. As a group, equities research analysts predict that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be paid a $0.72 dividend. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a yield of 2.04%. Seagate Technology's dividend payout ratio (DPR) is currently 41.62%.

Seagate Technology declared that its Board of Directors has approved a share repurchase program on Thursday, May 22nd that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the data storage provider to reacquire up to 21.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

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.

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