Daiwa Securities Group Inc. Raises Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Daiwa Securities Group Inc. grew its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 12.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,326 shares of the data storage provider’s stock after buying an additional 3,353 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Seagate Technology were worth $2,704,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in STX. Ashton Thomas Securities LLC bought a new position in Seagate Technology during the third quarter valued at $26,000. Advisors Asset Management Inc. boosted its stake in shares of Seagate Technology by 177.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after purchasing an additional 258 shares during the period. JFS Wealth Advisors LLC grew its holdings in Seagate Technology by 27.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock valued at $46,000 after purchasing an additional 113 shares during the last quarter. Human Investing LLC purchased a new stake in Seagate Technology in the 4th quarter worth about $48,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Seagate Technology in the third quarter worth about $53,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Price Performance

Shares of STX stock opened at $85.62 on Friday. The stock’s 50-day moving average is $96.35 and its 200 day moving average is $99.24. Seagate Technology Holdings plc has a 1-year low of $82.31 and a 1-year high of $115.32. The company has a market cap of $18.13 billion, a P/E ratio of 15.65 and a beta of 1.01.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s payout ratio is currently 52.65%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Mizuho reduced their price target on Seagate Technology from $130.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Rosenblatt Securities increased their target price on Seagate Technology from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Wedbush reissued an “outperform” rating and set a $150.00 target price on shares of Seagate Technology in a research note on Wednesday, January 22nd. The Goldman Sachs Group cut their price target on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, Wells Fargo & Company decreased their price objective on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $121.56.

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.