Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Acquires 4,178 Shares of Seagate Technology PLC (NASDAQ:STX)

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Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Seagate Technology PLC (NASDAQ:STX) by 9.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 47,168 shares of the data storage provider’s stock after acquiring an additional 4,178 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Seagate Technology were worth $2,779,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Parametric Portfolio Associates LLC increased its position in Seagate Technology by 0.4% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,713,849 shares of the data storage provider’s stock valued at $92,188,000 after acquiring an additional 6,293 shares in the last quarter. First Trust Advisors LP increased its position in Seagate Technology by 28.5% in the 4th quarter. First Trust Advisors LP now owns 849,962 shares of the data storage provider’s stock valued at $50,573,000 after acquiring an additional 188,371 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in Seagate Technology in the 3rd quarter valued at about $42,291,000. Great West Life Assurance Co. Can increased its position in Seagate Technology by 22.3% in the 3rd quarter. Great West Life Assurance Co. Can now owns 651,453 shares of the data storage provider’s stock valued at $35,110,000 after acquiring an additional 118,587 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in Seagate Technology by 6.2% in the 4th quarter. California Public Employees Retirement System now owns 650,743 shares of the data storage provider’s stock valued at $38,719,000 after acquiring an additional 38,202 shares in the last quarter. 84.36% of the stock is owned by institutional investors.

Several research firms have weighed in on STX. Cfra raised their price objective on shares of Seagate Technology from $55.00 to $58.00 and gave the company a “hold” rating in a research report on Wednesday, February 5th. ValuEngine cut shares of Seagate Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Susquehanna Bancshares restated a “sell” rating and issued a $40.00 price objective on shares of Seagate Technology in a research report on Monday, December 16th. Mizuho raised their price objective on shares of Seagate Technology from $56.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Finally, BidaskClub cut shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 1st. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. Seagate Technology has an average rating of “Hold” and an average price target of $56.10.

Shares of NASDAQ:STX opened at $53.99 on Friday. Seagate Technology PLC has a one year low of $41.63 and a one year high of $64.17. The company has a 50 day moving average of $59.02 and a 200-day moving average of $55.36. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.54 and a quick ratio of 1.11. The stock has a market cap of $14.09 billion, a price-to-earnings ratio of 8.75, a P/E/G ratio of 8.97 and a beta of 1.56.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, February 4th. The data storage provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.32 by $0.03. Seagate Technology had a net margin of 17.03% and a return on equity of 58.19%. The company had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter in the previous year, the company earned $1.41 EPS. Seagate Technology’s revenue was down .7% on a year-over-year basis. Equities research analysts anticipate that Seagate Technology PLC will post 5.06 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 4.82%. The ex-dividend date is Tuesday, March 24th. Seagate Technology’s dividend payout ratio is 53.94%.

In related news, EVP Jeffrey D. Nygaard sold 3,916 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $60.03, for a total transaction of $235,077.48. Following the completion of the transaction, the executive vice president now owns 27,901 shares in the company, valued at $1,674,897.03. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP James J. Murphy sold 8,308 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $59.34, for a total transaction of $492,996.72. Following the transaction, the executive vice president now owns 36,685 shares of the company’s stock, valued at approximately $2,176,887.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 99,142 shares of company stock valued at $5,920,709. 1.12% of the stock is owned by corporate insiders.

Seagate Technology Company Profile

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.

Read More: What does cost of debt say about a company’s financial health?

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Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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