Meiji Yasuda Asset Management Co Ltd. Buys 579 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 13.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,003 shares of the data storage provider’s stock after purchasing an additional 579 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Seagate Technology were worth $517,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STX. Family Firm Inc. bought a new stake in shares of Seagate Technology during the 2nd quarter valued at about $41,000. ICA Group Wealth Management LLC bought a new stake in Seagate Technology during the fourth quarter valued at approximately $47,000. Richardson Financial Services Inc. bought a new stake in Seagate Technology during the fourth quarter valued at approximately $47,000. Larson Financial Group LLC increased its holdings in Seagate Technology by 15,766.7% during the second quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock valued at $49,000 after buying an additional 473 shares during the last quarter. Finally, Viking Fund Management LLC raised its position in Seagate Technology by 722.2% in the first quarter. Viking Fund Management LLC now owns 740 shares of the data storage provider’s stock worth $69,000 after acquiring an additional 650 shares during the period. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

NASDAQ STX opened at $104.74 on Friday. The stock has a 50 day moving average price of $101.15 and a 200-day moving average price of $96.54. Seagate Technology Holdings plc has a one year low of $63.32 and a one year high of $113.57. The company has a market capitalization of $22.05 billion, a P/E ratio of -81.19 and a beta of 1.03.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.29. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The business’s revenue was up 17.8% on a year-over-year basis. During the same period last year, the company posted ($0.29) EPS. As a group, equities analysts predict that Seagate Technology Holdings plc will post 6.72 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 23rd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s dividend payout ratio (DPR) is -217.05%.

Insider Activity

In other Seagate Technology news, EVP Ban Seng Teh sold 10,117 shares of Seagate Technology stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the completion of the transaction, the executive vice president now directly owns 5,387 shares of the company’s stock, valued at $592,570. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Ban Seng Teh sold 10,117 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total value of $1,112,870.00. Following the sale, the executive vice president now directly owns 5,387 shares of the company’s stock, valued at approximately $592,570. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,627 shares of company stock valued at $5,489,495. 0.89% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. The Goldman Sachs Group upped their price objective on Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald upped their price target on Seagate Technology from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Northland Securities lifted their price objective on Seagate Technology from $119.00 to $142.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Morgan Stanley increased their target price on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, StockNews.com cut shares of Seagate Technology from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $115.94.

Seagate Technology Company 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.