Seagate Technology Holdings plc (NASDAQ:STX) Stock Holdings Lowered by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd cut its position in Seagate Technology Holdings plc (NASDAQ:STX) by 46.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,594 shares of the data storage provider’s stock after selling 12,000 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Seagate Technology were worth $1,489,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Duquesne Family Office LLC raised its holdings in shares of 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 buying an additional 316,295 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Seagate Technology by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,327,920 shares of the data storage provider’s stock valued at $145,447,000 after acquiring an additional 73,267 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Seagate Technology by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,019,657 shares of the data storage provider’s stock worth $105,306,000 after acquiring an additional 9,062 shares during the period. Primecap Management Co. CA grew its stake in shares of Seagate Technology by 3.3% in the third quarter. Primecap Management Co. CA now owns 601,420 shares of the data storage provider’s stock worth $65,874,000 after purchasing an additional 19,125 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of Seagate Technology by 0.5% during the third quarter. Swiss National Bank now owns 592,000 shares of the data storage provider’s stock valued at $64,842,000 after purchasing an additional 2,700 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Seagate Technology

In related news, CEO William D. Mosley sold 141,785 shares of Seagate Technology stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the completion of the sale, the chief executive officer now owns 668,616 shares of the company’s stock, valued at approximately $73,668,110.88. This trade represents a 17.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John Christopher Morris sold 1,131 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total value of $126,558.90. Following the completion of the transaction, the senior vice president now directly owns 7,191 shares in the company, valued at approximately $804,672.90. The trade was a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 201,820 shares of company stock valued at $21,892,856 in the last 90 days. 0.81% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on STX shares. Rosenblatt Securities increased their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup increased their price objective on shares of Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Evercore ISI boosted their target price on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Wedbush reaffirmed an “outperform” rating and set a $150.00 price target on shares of Seagate Technology in a research note on Wednesday, October 23rd. Finally, StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and a consensus target price of $118.83.

Seagate Technology Price Performance

Seagate Technology stock opened at $100.00 on Thursday. The company has a market cap of $21.15 billion, a P/E ratio of 26.11 and a beta of 1.05. Seagate Technology Holdings plc has a fifty-two week low of $76.30 and a fifty-two week high of $115.32. The firm’s 50 day simple moving average is $104.68 and its 200-day simple moving average is $101.91.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.28. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The company’s revenue was up 49.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.34) EPS. On average, analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be given a dividend of $0.72 per share. 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 dividend on an annualized basis and a yield of 2.88%. Seagate Technology’s dividend payout ratio (DPR) is presently 73.11%.

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.