Mirae Asset Global Investments Co. Ltd. Acquires 5,527 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Mirae Asset Global Investments Co. Ltd. boosted its stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 37.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,150 shares of the data storage provider's stock after purchasing an additional 5,527 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Seagate Technology were worth $1,760,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Sanders Capital LLC raised its stake in Seagate Technology by 0.9% during the third quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider's stock worth $1,792,742,000 after acquiring an additional 150,115 shares in the last quarter. State Street Corp raised its stake in Seagate Technology by 6.8% during the third quarter. State Street Corp now owns 8,502,674 shares of the data storage provider's stock worth $937,081,000 after acquiring an additional 541,585 shares in the last quarter. Geode Capital Management LLC raised its stake in Seagate Technology by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider's stock worth $454,477,000 after acquiring an additional 318,416 shares in the last quarter. Franklin Resources Inc. raised its stake in Seagate Technology by 29.5% during the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider's stock worth $197,844,000 after acquiring an additional 405,232 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Seagate Technology by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,327,920 shares of the data storage provider's stock worth $145,447,000 after acquiring an additional 73,267 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $102.83, for a total value of $2,056,600.00. Following the completion of the sale, the chief executive officer now owns 622,497 shares of the company's stock, valued at approximately $64,011,366.51. This trade represents a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total value of $76,365.00. Following the completion of the transaction, the director now owns 6,555 shares in the company, valued at $667,430.10. This represents a 10.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,891 shares of company stock valued at $2,146,848. Company insiders own 0.81% of the company's stock.

Seagate Technology Price Performance

Shares of Seagate Technology stock traded down $0.01 during trading on Friday, reaching $101.47. 2,234,988 shares of the company traded hands, compared to its average volume of 3,334,021. The firm has a market capitalization of $21.48 billion, a PE ratio of 18.55 and a beta of 1.07. The company has a 50 day moving average price of $94.57 and a 200-day moving average price of $99.63. Seagate Technology Holdings plc has a 1-year low of $82.31 and a 1-year high of $115.32.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be issued a $0.72 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 2.84%. Seagate Technology's payout ratio is currently 52.65%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on STX shares. UBS Group boosted their price target on Seagate Technology from $95.00 to $105.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Evercore ISI boosted their price target on Seagate Technology from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Citigroup boosted their price target on Seagate Technology from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. StockNews.com upgraded Seagate Technology from a "hold" rating to a "buy" rating in a report on Wednesday, February 5th. Finally, Northland Securities reaffirmed an "outperform" rating and set a $160.00 target price (up from $144.00) on shares of Seagate Technology in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $122.56.

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.