Mizuho Markets Americas LLC Makes New $32.60 Million Investment in Seagate Technology Holdings plc (NASDAQ:STX)

Mizuho Markets Americas LLC purchased a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 297,621 shares of the data storage provider’s stock, valued at approximately $32,598,000. Seagate Technology comprises 0.7% of Mizuho Markets Americas LLC’s investment portfolio, making the stock its 29th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of STX. Ashton Thomas Securities LLC bought a new stake in Seagate Technology during the third quarter worth approximately $26,000. Quarry LP acquired a new stake in shares of Seagate Technology in the second quarter worth $27,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Seagate Technology by 2,407.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after buying an additional 337 shares during the period. Family Firm Inc. acquired a new position in Seagate Technology in the 2nd quarter valued at $41,000. Finally, JFS Wealth Advisors LLC raised its holdings in Seagate Technology by 232.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after acquiring an additional 293 shares during the period. Institutional investors own 92.87% of the company’s stock.

Insider Activity at Seagate Technology

In related news, EVP Ban Seng Teh sold 4,872 shares of Seagate Technology stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $110.00, for a total value of $535,920.00. Following the completion of the transaction, the executive vice president now directly owns 9,969 shares of the company’s stock, valued at $1,096,590. The trade was a 32.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total transaction of $72,075.00. Following the transaction, the director now owns 3,034 shares in the company, valued at approximately $291,567.40. This trade represents a 19.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 201,820 shares of company stock valued at $21,892,856 in the last ninety days. Insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on STX shares. Rosenblatt Securities upped their price target on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. StockNews.com upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. TD Cowen lifted their price target on Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Benchmark reissued a “hold” rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. Finally, Susquehanna boosted their target price on shares of Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.83.

Seagate Technology Stock Down 0.7 %

Shares of 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 stock has a market cap of $20.47 billion, a price-to-earnings ratio of 25.27 and a beta of 1.05. The company has a 50-day moving average price of $105.02 and a two-hundred day moving average price of $101.23.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.30 by $0.28. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm earned ($0.34) EPS. Seagate Technology’s quarterly revenue was up 49.1% on a year-over-year basis. Equities research analysts expect that Seagate Technology Holdings plc will post 7.35 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be given a dividend of $0.72 per share. 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 boost from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio (DPR) is 73.11%.

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.