Nissay Asset Management Corp Japan ADV Raises Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Nissay Asset Management Corp Japan ADV grew its position in Seagate Technology Holdings plc (NASDAQ:STX) by 5.4% during the 4th quarter, Holdings Channel reports. The fund owned 25,313 shares of the data storage provider’s stock after buying an additional 1,304 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Seagate Technology were worth $2,212,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in STX. Capital Research Global Investors boosted its holdings in shares of Seagate Technology by 56.5% in the fourth quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider’s stock valued at $1,348,262,000 after acquiring an additional 5,640,443 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Seagate Technology by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider’s stock worth $2,414,446,000 after buying an additional 1,814,821 shares in the last quarter. Marshall Wace LLP purchased a new stake in Seagate Technology during the fourth quarter worth about $77,341,000. Junto Capital Management LP purchased a new stake in Seagate Technology during the fourth quarter worth about $60,303,000. Finally, Janus Henderson Group PLC boosted its holdings in Seagate Technology by 2,853.4% during the fourth quarter. Janus Henderson Group PLC now owns 670,976 shares of the data storage provider’s stock worth $57,925,000 after buying an additional 648,257 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total value of $1,691,200.00. Following the transaction, the chief executive officer now directly owns 555,677 shares in the company, valued at approximately $46,988,047.12. This trade represents a 3.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.81% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of Seagate Technology from $120.00 to $105.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 30th. Barclays boosted their price objective on shares of Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 30th. Northland Securities reissued an “outperform” rating and set a $160.00 price objective (up previously from $144.00) on shares of Seagate Technology in a report on Wednesday, January 22nd. Bank of America decreased their price objective on shares of Seagate Technology from $130.00 to $112.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Finally, Susquehanna lifted their target price on shares of Seagate Technology from $65.00 to $68.00 and gave the stock a “negative” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.11.

Seagate Technology Price Performance

NASDAQ:STX opened at $107.79 on Friday. The firm has a 50 day simple moving average of $84.56 and a 200-day simple moving average of $92.40. The firm has a market cap of $22.87 billion, a PE ratio of 19.71 and a beta of 1.32. Seagate Technology Holdings plc has a 1-year low of $63.19 and a 1-year high of $115.32.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the firm earned $0.33 earnings per share. Seagate Technology’s revenue was up 30.5% compared to the same quarter last year. As a group, sell-side analysts expect that Seagate Technology Holdings plc will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology’s dividend payout ratio is currently 41.62%.

About Seagate Technology

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.