Seagate Technology Holdings plc (NASDAQ:STX) Holdings Raised by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 465,428 shares of the data storage provider’s stock after buying an additional 10,122 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of Seagate Technology worth $50,978,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of Seagate Technology during the 3rd quarter worth $26,000. Quarry LP acquired a new position in shares of Seagate Technology during the 2nd quarter worth $27,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Seagate Technology by 2,407.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 337 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Seagate Technology during the 2nd quarter worth $41,000. Finally, JFS Wealth Advisors LLC increased its stake in shares of Seagate Technology by 232.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after purchasing an additional 293 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Trading Down 0.7 %

Shares of NASDAQ STX opened at $96.79 on Friday. Seagate Technology Holdings plc has a 1-year low of $74.33 and a 1-year high of $115.32. The company has a market cap of $20.47 billion, a PE ratio of 25.27 and a beta of 1.05. The company has a 50-day moving average of $105.02 and a two-hundred day moving average of $101.23.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the company earned ($0.34) EPS. Seagate Technology’s revenue was up 49.1% on a year-over-year basis. As a group, equities research analysts forecast that Seagate Technology Holdings plc will post 7.35 earnings per share for the current year.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be issued a dividend of $0.72 per share. The ex-dividend date is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a yield of 2.98%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s payout ratio is currently 73.11%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on STX. Rosenblatt Securities raised their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised their target price on shares of Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. TD Cowen raised their target price on shares of Seagate Technology from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Barclays raised their price target on shares of Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Finally, Robert W. Baird raised their price target on shares of Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $118.83.

Insider Activity at Seagate Technology

In other Seagate Technology news, SVP Kian Fatt Chong sold 9,182 shares of Seagate Technology stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $105.50, for a total value of $968,701.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William D. Mosley sold 141,785 shares of Seagate Technology stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the completion of the transaction, the chief executive officer now directly owns 668,616 shares in the company, valued at approximately $73,668,110.88. The trade was a 17.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 201,820 shares of company stock worth $21,892,856. 0.81% 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.