Dai ichi Life Insurance Company Ltd Reduces Position in Seagate Technology Holdings plc (NASDAQ:STX)

Dai ichi Life Insurance Company Ltd reduced its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 46.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 large investors have also made changes to their positions in STX. Lazard Asset Management LLC boosted its stake in shares of Seagate Technology by 6.9% during the 1st quarter. Lazard Asset Management LLC now owns 13,609 shares of the data storage provider’s stock worth $1,266,000 after purchasing an additional 881 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Seagate Technology by 2.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock worth $24,011,000 after acquiring an additional 6,044 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in Seagate Technology by 3.9% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 19,340 shares of the data storage provider’s stock valued at $1,800,000 after acquiring an additional 725 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Seagate Technology by 5.7% during the 1st quarter. California State Teachers Retirement System now owns 291,919 shares of the data storage provider’s stock worth $27,163,000 after purchasing an additional 15,847 shares during the period. Finally, Tidal Investments LLC lifted its stake in shares of Seagate Technology by 24.5% during the 1st quarter. Tidal Investments LLC now owns 4,289 shares of the data storage provider’s stock worth $399,000 after purchasing an additional 844 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on STX shares. Northland Securities upped their target price on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Evercore ISI increased their price objective on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Citigroup raised their target price on shares of Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Rosenblatt Securities increased their price target on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average price target of $118.83.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the sale, the director now directly owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. This represents a 19.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ban Seng Teh sold 4,872 shares of Seagate Technology stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.00, for a total transaction of $535,920.00. Following the completion of the transaction, the executive vice president now directly owns 9,969 shares of the company’s stock, valued at $1,096,590. This trade represents a 32.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 201,820 shares of company stock worth $21,892,856 over the last quarter. 0.81% of the stock is owned by corporate insiders.

Seagate Technology Stock Down 1.6 %

NASDAQ STX opened at $100.00 on Thursday. The stock has a market cap of $21.15 billion, a PE ratio of 26.11 and a beta of 1.05. The business has a 50 day moving average price of $104.68 and a two-hundred day moving average price of $101.91. Seagate Technology Holdings plc has a fifty-two week low of $76.30 and a fifty-two week high of $115.32.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (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 firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the firm posted ($0.34) EPS. The firm’s quarterly revenue was up 49.1% on a year-over-year basis. Sell-side analysts anticipate that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal 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 $0.72 dividend. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 2.88%. The ex-dividend date is Friday, December 13th. Seagate Technology’s payout ratio is currently 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.