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

Mizuho Markets Americas LLC bought a new stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 297,621 shares of the data storage provider's stock, valued at approximately $32,598,000. Seagate Technology accounts for about 0.7% of Mizuho Markets Americas LLC's portfolio, making the stock its 29th largest holding. Mizuho Markets Americas LLC owned 0.14% of Seagate Technology as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bessemer Group Inc. boosted its position in shares of Seagate Technology by 68.7% during the first quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider's stock worth $1,634,000 after buying an additional 7,150 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Seagate Technology by 2.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider's stock worth $24,011,000 after buying an additional 6,044 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Seagate Technology by 21.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 232,957 shares of the data storage provider's stock worth $21,677,000 after purchasing an additional 40,649 shares in the last quarter. Versor Investments LP bought a new stake in Seagate Technology during the third quarter worth approximately $2,146,000. Finally, Lighthouse Investment Partners LLC bought a new stake in Seagate Technology during the second quarter worth approximately $499,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 141,785 shares of Seagate Technology stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total value of $15,621,871.30. Following the transaction, the chief executive officer now directly owns 668,616 shares of the company's stock, valued at $73,668,110.88. The trade was a 17.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the transaction, the director now directly owns 3,034 shares in the company, valued at approximately $291,567.40. This represents a 19.82 % decrease in their ownership of the stock. 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 three months. Corporate insiders own 0.81% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on STX. Loop Capital boosted their target price on Seagate Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. TD Cowen upped their price target on Seagate Technology from $110.00 to $135.00 and gave the company a "buy" rating in a report on Wednesday, July 24th. Morgan Stanley upped their price target on Seagate Technology from $115.00 to $133.00 and gave the company an "overweight" rating in a report on Wednesday, July 24th. Robert W. Baird upped their price target on Seagate Technology from $100.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, July 24th. Finally, StockNews.com raised Seagate Technology from a "hold" rating to a "buy" rating in a report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $118.83.

Seagate Technology Stock Down 0.7 %

Shares of STX traded down $0.67 during midday trading on Friday, reaching $96.79. 1,926,370 shares of the stock were exchanged, compared to its average volume of 2,486,239. Seagate Technology Holdings plc has a 12-month low of $74.33 and a 12-month high of $115.32. The firm has a 50 day simple moving average of $105.02 and a 200-day simple moving average of $101.23. The company has a market cap of $20.47 billion, a price-to-earnings ratio of 25.27 and a beta of 1.05.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the business earned ($0.34) EPS. The business's quarterly revenue was up 49.1% on a year-over-year basis. Research analysts expect that Seagate Technology Holdings plc will post 7.35 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Seagate Technology's previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.98%. 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.