Mitsubishi UFJ Trust & Banking Corp Reduces Position in Seagate Technology Holdings PLC $STX

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 3.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,991 shares of the data storage provider’s stock after selling 2,785 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Seagate Technology were worth $20,535,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of STX. First Horizon Corp purchased a new stake in Seagate Technology during the 3rd quarter worth about $33,000. Harbor Asset Planning Inc. purchased a new stake in Seagate Technology during the second quarter worth approximately $27,000. Rakuten Securities Inc. boosted its holdings in Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 168 shares in the last quarter. MTM Investment Management LLC purchased a new position in Seagate Technology in the second quarter valued at approximately $29,000. Finally, True Wealth Design LLC raised its holdings in Seagate Technology by 665.7% during the third quarter. True Wealth Design LLC now owns 268 shares of the data storage provider’s stock worth $63,000 after purchasing an additional 233 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

STX has been the subject of several research analyst reports. China Renaissance upped their target price on shares of Seagate Technology from $325.00 to $452.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Argus upped their price objective on shares of Seagate Technology from $170.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 30th. Wells Fargo & Company lifted their target price on Seagate Technology from $250.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 15th. Zacks Research cut Seagate Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Finally, UBS Group raised their price target on Seagate Technology from $230.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $356.09.

Insider Buying and Selling

In other Seagate Technology news, EVP Kian Fatt Chong sold 7,078 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $272.14, for a total value of $1,926,206.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephanie Tilenius sold 2,046 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $266.41, for a total transaction of $545,074.86. Following the completion of the sale, the director owned 12,244 shares of the company’s stock, valued at $3,261,924.04. This trade represents a 14.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 132,557 shares of company stock worth $36,847,793. 0.79% of the stock is currently owned by insiders.

Seagate Technology Stock Up 3.5%

NASDAQ STX opened at $358.29 on Tuesday. The firm has a market cap of $76.52 billion, a P/E ratio of 45.99, a P/E/G ratio of 1.04 and a beta of 1.60. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $370.47. The business’s 50-day moving average price is $291.10 and its 200 day moving average price is $232.11.

Seagate Technology Company Profile

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.