Mirae Asset Global Investments Co. Ltd. Increases Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Seagate Technology Holdings plc (NASDAQ:STXGet Rating) by 14.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,712 shares of the data storage provider’s stock after acquiring an additional 6,916 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Seagate Technology were worth $4,829,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of STX. Private Advisor Group LLC boosted its holdings in Seagate Technology by 156.0% during the 4th quarter. Private Advisor Group LLC now owns 11,811 shares of the data storage provider’s stock valued at $1,334,000 after acquiring an additional 7,197 shares during the period. Siemens Fonds Invest GmbH acquired a new stake in Seagate Technology in the 4th quarter valued at about $239,000. Rockefeller Capital Management L.P. raised its position in Seagate Technology by 64.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 64,436 shares of the data storage provider’s stock valued at $7,279,000 after purchasing an additional 25,347 shares in the last quarter. Clearstead Advisors LLC raised its position in Seagate Technology by 2.6% in the 4th quarter. Clearstead Advisors LLC now owns 25,985 shares of the data storage provider’s stock valued at $2,936,000 after purchasing an additional 655 shares in the last quarter. Finally, Navellier & Associates Inc. raised its position in Seagate Technology by 7.8% in the 4th quarter. Navellier & Associates Inc. now owns 84,224 shares of the data storage provider’s stock valued at $9,516,000 after purchasing an additional 6,116 shares in the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STX has been the topic of a number of analyst reports. Fox Advisors lowered Seagate Technology from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 22nd. Susquehanna Bancshares cut their target price on Seagate Technology from $67.00 to $58.00 and set a “negative” rating on the stock in a research report on Friday, July 22nd. Credit Suisse Group cut their target price on Seagate Technology from $80.00 to $74.00 and set a “neutral” rating on the stock in a research report on Thursday, September 1st. The Goldman Sachs Group cut their target price on Seagate Technology from $106.00 to $80.00 in a research report on Friday, July 15th. Finally, Morgan Stanley cut their target price on Seagate Technology from $84.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 1st. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $80.48.

Seagate Technology Stock Down 1.2 %

Seagate Technology stock opened at $58.84 on Friday. The company has a debt-to-equity ratio of 46.44, a current ratio of 1.13 and a quick ratio of 0.69. Seagate Technology Holdings plc has a 1-year low of $58.56 and a 1-year high of $117.67. The company has a market cap of $12.17 billion, a PE ratio of 8.02, a price-to-earnings-growth ratio of 10.01 and a beta of 1.11. The stock’s 50 day moving average price is $73.91 and its 200 day moving average price is $79.43.

Seagate Technology (NASDAQ:STXGet Rating) last posted its quarterly earnings results on Thursday, July 21st. The data storage provider reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.33). Seagate Technology had a net margin of 14.14% and a return on equity of 412.90%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter last year, the firm earned $1.92 earnings per share. On average, sell-side analysts predict that Seagate Technology Holdings plc will post 4.95 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Wednesday, September 21st will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.76%. Seagate Technology’s dividend payout ratio (DPR) is presently 38.15%.

Seagate Technology Company Profile

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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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Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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