Daiwa Securities Group Inc. Increases Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Daiwa Securities Group Inc. grew its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 37.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,524 shares of the data storage provider’s stock after buying an additional 5,881 shares during the period. Daiwa Securities Group Inc.’s holdings in Seagate Technology were worth $1,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of STX. JPMorgan Chase & Co. boosted its position in shares of Seagate Technology by 9.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock valued at $1,166,022,000 after purchasing an additional 1,485,937 shares during the period. FMR LLC boosted its position in shares of Seagate Technology by 13.1% in the 3rd quarter. FMR LLC now owns 13,929,708 shares of the data storage provider’s stock valued at $918,664,000 after purchasing an additional 1,612,264 shares during the period. Wellington Management Group LLP boosted its position in shares of Seagate Technology by 3.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,381,497 shares of the data storage provider’s stock valued at $288,960,000 after purchasing an additional 127,214 shares during the period. Invesco Ltd. boosted its position in shares of Seagate Technology by 0.4% in the 3rd quarter. Invesco Ltd. now owns 2,804,277 shares of the data storage provider’s stock valued at $184,942,000 after purchasing an additional 10,697 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Seagate Technology by 24.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,410,163 shares of the data storage provider’s stock valued at $158,950,000 after purchasing an additional 470,592 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. TD Cowen upped their target price on Seagate Technology from $85.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Evercore ISI began coverage on Seagate Technology in a research report on Tuesday, February 27th. They issued an “outperform” rating and a $110.00 target price for the company. The Goldman Sachs Group increased their price objective on Seagate Technology from $65.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Mizuho reaffirmed a “buy” rating and set a $100.00 price objective on shares of Seagate Technology in a research report on Tuesday, April 9th. Finally, Wells Fargo & Company increased their price objective on Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $91.73.

Seagate Technology Trading Up 3.3 %

Shares of STX stock opened at $85.18 on Tuesday. The company has a market cap of $17.85 billion, a price-to-earnings ratio of -24.34, a price-to-earnings-growth ratio of 681.49 and a beta of 1.04. The stock has a 50 day simple moving average of $89.31 and a 200-day simple moving average of $82.47. Seagate Technology Holdings plc has a 12-month low of $54.47 and a 12-month high of $101.26.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Wednesday, January 24th. The data storage provider reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.19. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.56 billion. On average, equities analysts forecast that Seagate Technology Holdings plc will post 0.1 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Thursday, March 21st were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Wednesday, March 20th. Seagate Technology’s payout ratio is currently -80.00%.

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.