Sumitomo Mitsui DS Asset Management Company Ltd Acquires 1,614 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 5.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,763 shares of the data storage provider’s stock after acquiring an additional 1,614 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Seagate Technology were worth $2,626,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Valley National Advisers Inc. grew its holdings in Seagate Technology by 39.7% in the 4th quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock valued at $43,000 after buying an additional 144 shares in the last quarter. NewEdge Wealth LLC grew its holdings in Seagate Technology by 3.6% in the 3rd quarter. NewEdge Wealth LLC now owns 4,214 shares of the data storage provider’s stock valued at $278,000 after buying an additional 146 shares in the last quarter. IFP Advisors Inc grew its holdings in Seagate Technology by 4.9% in the 3rd quarter. IFP Advisors Inc now owns 3,542 shares of the data storage provider’s stock valued at $234,000 after buying an additional 164 shares in the last quarter. Bangor Savings Bank grew its holdings in Seagate Technology by 2.5% in the 3rd quarter. Bangor Savings Bank now owns 6,768 shares of the data storage provider’s stock valued at $446,000 after buying an additional 166 shares in the last quarter. Finally, Mariner LLC grew its holdings in Seagate Technology by 0.6% in the 3rd quarter. Mariner LLC now owns 29,616 shares of the data storage provider’s stock valued at $1,953,000 after buying an additional 185 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Up 1.6 %

NASDAQ:STX opened at $86.53 on Wednesday. The stock’s 50-day simple moving average is $89.29 and its 200 day simple moving average is $82.61. The firm has a market capitalization of $18.13 billion, a PE ratio of -24.72, a price-to-earnings-growth ratio of 703.97 and a beta of 1.04. Seagate Technology Holdings plc has a twelve month low of $54.47 and a twelve month high of $101.26.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. The business’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same period last year, the business earned ($0.43) earnings per share. On average, analysts anticipate that Seagate Technology Holdings plc will post 0.1 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.24%. Seagate Technology’s dividend payout ratio is presently -80.00%.

Analysts Set New Price Targets

A number of research analysts have commented on STX shares. TD Cowen upped their price objective on Seagate Technology from $85.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Rosenblatt Securities increased their target price on Seagate Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Barclays reduced their target price on Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday. Mizuho reissued a “buy” rating and set a $100.00 target price on shares of Seagate Technology in a report on Tuesday, April 9th. Finally, Wedbush reissued a “neutral” rating and set a $100.00 target price on shares of Seagate Technology in a report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $91.73.

Seagate Technology Company 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.