Mizuho Markets Americas LLC Takes Position in Seagate Technology Holdings plc (NASDAQ:STX)

Mizuho Markets Americas LLC purchased a new position in Seagate Technology Holdings plc (NASDAQ:STX) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 297,621 shares of the data storage provider’s stock, valued at approximately $32,598,000. Seagate Technology makes up about 0.7% of Mizuho Markets Americas LLC’s investment portfolio, making the stock its 29th largest holding. Mizuho Markets Americas LLC owned 0.14% of Seagate Technology at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System grew its stake in Seagate Technology by 157.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 52,612 shares of the data storage provider’s stock worth $4,896,000 after buying an additional 32,200 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Seagate Technology by 21.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 232,957 shares of the data storage provider’s stock valued at $21,677,000 after purchasing an additional 40,649 shares during the period. Kingsview Wealth Management LLC bought a new position in Seagate Technology in the 1st quarter worth about $210,000. M&G Plc acquired a new stake in shares of Seagate Technology in the first quarter valued at approximately $12,426,000. Finally, Vanguard Group Inc. raised its holdings in shares of Seagate Technology by 3.1% during the first quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock valued at $2,303,274,000 after buying an additional 746,395 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Insider Transactions at Seagate Technology

In other news, EVP Ban Seng Teh sold 4,872 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total value of $535,920.00. Following the transaction, the executive vice president now directly owns 9,969 shares of the company’s stock, valued at approximately $1,096,590. This represents a 32.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value 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. The trade was a 19.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 201,820 shares of company stock valued at $21,892,856 over the last quarter. Company insiders own 0.81% of the company’s stock.

Seagate Technology Stock Down 0.7 %

Shares of NASDAQ STX opened at $96.79 on Friday. Seagate Technology Holdings plc has a 12 month low of $74.33 and a 12 month high of $115.32. The company has a market cap of $20.47 billion, a price-to-earnings ratio of 25.27 and a beta of 1.05. The business has a fifty day simple moving average of $105.02 and a 200-day simple moving average of $101.23.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.28. The business 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 firm’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.34) earnings per share. As a group, sell-side analysts expect that Seagate Technology Holdings plc will post 7.35 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be issued a $0.72 dividend. The ex-dividend date is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.98%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio is presently 73.11%.

Analysts Set New Price Targets

Several analysts recently commented on STX shares. The Goldman Sachs Group raised their target price on Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Wedbush restated an “outperform” rating and set a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. Loop Capital increased their target price on shares of Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. UBS Group raised their target price on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Evercore ISI upped their price target on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $118.83.

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.