Arrowstreet Capital Limited Partnership reduced its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 61.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,223,811 shares of the data storage provider's stock after selling 1,928,821 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.58% of Seagate Technology worth $105,627,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Seagate Technology by 9.5% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,834 shares of the data storage provider's stock worth $4,215,000 after acquiring an additional 4,229 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Seagate Technology by 341.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider's stock valued at $143,370,000 after purchasing an additional 1,012,638 shares during the last quarter. Kingswood Wealth Advisors LLC increased its position in shares of Seagate Technology by 87.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 8,578 shares of the data storage provider's stock valued at $740,000 after buying an additional 4,014 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Seagate Technology by 9.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 84,222 shares of the data storage provider's stock worth $7,360,000 after buying an additional 7,599 shares during the last quarter. Finally, Rheos Capital Works Inc. boosted its position in shares of Seagate Technology by 2.5% in the 4th quarter. Rheos Capital Works Inc. now owns 331,500 shares of the data storage provider's stock worth $28,612,000 after buying an additional 8,000 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on STX shares. Morgan Stanley dropped their target price on shares of Seagate Technology from $133.00 to $129.00 and set an "overweight" rating for the company in a report on Tuesday, January 21st. The Goldman Sachs Group dropped their price objective on shares of Seagate Technology from $112.00 to $99.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Mizuho reduced their target price on Seagate Technology from $130.00 to $110.00 and set an "outperform" rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company dropped their price target on Seagate Technology from $120.00 to $110.00 and set an "equal weight" rating for the company in a research report on Thursday, January 16th. Finally, Wedbush restated an "outperform" rating and issued a $150.00 price objective on shares of Seagate Technology in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.00.
Read Our Latest Stock Report on STX
Seagate Technology Stock Down 0.5 %
Shares of NASDAQ STX traded down $0.41 during trading on Tuesday, hitting $84.54. 2,728,184 shares of the company traded hands, compared to its average volume of 2,623,026. The firm has a market capitalization of $17.90 billion, a P/E ratio of 15.46 and a beta of 1.01. The company has a 50-day moving average price of $95.45 and a 200-day moving average price of $98.17. 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a yield of 3.41%. Seagate Technology's dividend payout ratio (DPR) is 52.65%.
Seagate Technology Profile
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Free Report)
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.
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