Seagate Technology Holdings PLC (NASDAQ:STX) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 18.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,823 shares of the data storage provider’s stock after buying an additional 3,673 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Seagate Technology were worth $2,023,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in shares of Seagate Technology in the 4th quarter valued at about $1,065,000. US Bancorp DE lifted its position in Seagate Technology by 3.3% during the 4th quarter. US Bancorp DE now owns 18,085 shares of the data storage provider’s stock worth $1,561,000 after acquiring an additional 577 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in Seagate Technology by 1,239.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,326 shares of the data storage provider’s stock worth $114,000 after acquiring an additional 1,227 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Seagate Technology by 27.5% during the 4th quarter. Jones Financial Companies Lllp now owns 9,782 shares of the data storage provider’s stock worth $844,000 after acquiring an additional 2,111 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Seagate Technology during the 4th quarter worth approximately $135,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. BNP Paribas Exane raised Seagate Technology from an “underperform” rating to a “neutral” rating and set a $100.00 price target on the stock in a research report on Friday, May 16th. Morgan Stanley boosted their price target on Seagate Technology from $99.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, May 23rd. Rosenblatt Securities reissued a “buy” rating and set a $130.00 price target on shares of Seagate Technology in a research report on Friday, May 23rd. Wall Street Zen downgraded Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Finally, UBS Group lifted their price objective on Seagate Technology from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $119.42.

Insider Activity

In other news, CEO William D. Mosley sold 70,000 shares of the business’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $109.47, for a total transaction of $7,662,900.00. Following the completion of the transaction, the chief executive officer owned 485,677 shares of the company’s stock, valued at approximately $53,167,061.19. The trade was a 12.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael R. Cannon sold 24,190 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $119.00, for a total transaction of $2,878,610.00. Following the transaction, the director directly owned 10,835 shares of the company’s stock, valued at approximately $1,289,365. This trade represents a 69.06% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 393,791 shares of company stock worth $47,582,998. 0.81% of the stock is owned by insiders.

Seagate Technology Price Performance

Seagate Technology stock opened at $149.45 on Friday. The company has a market cap of $31.72 billion, a PE ratio of 21.60 and a beta of 1.45. The company has a fifty day moving average price of $116.95 and a two-hundred day moving average price of $98.93. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $152.16.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.15. Seagate Technology had a net margin of 17.49% and a negative return on equity of 105.02%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 30.5% compared to the same quarter last year. Equities research analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders 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 dividend yield of 1.93%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology’s dividend payout ratio (DPR) is 41.62%.

Seagate Technology announced that its board has authorized a stock repurchase program on Thursday, May 22nd that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the data storage provider to reacquire up to 21.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.