Blueshift Asset Management LLC Takes $831,000 Position in Seagate Technology Holdings plc (NASDAQ:STX)

Blueshift Asset Management LLC acquired a new position in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,629 shares of the data storage provider's stock, valued at approximately $831,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Asset Management L.P. bought a new stake in shares of Seagate Technology during the third quarter valued at approximately $133,031,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Seagate Technology by 341.7% in the 3rd 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 acquiring an additional 1,012,638 shares during the last quarter. State Street Corp lifted its stake in Seagate Technology by 6.8% in the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider's stock worth $937,081,000 after purchasing an additional 541,585 shares in the last quarter. National Pension Service bought a new position in shares of Seagate Technology during the 4th quarter valued at about $43,436,000. Finally, Los Angeles Capital Management LLC grew its position in shares of Seagate Technology by 176.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 741,592 shares of the data storage provider's stock valued at $64,007,000 after purchasing an additional 473,484 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Remove Ads

Seagate Technology Trading Up 0.6 %

Shares of NASDAQ STX traded up $0.52 during trading hours on Monday, reaching $88.79. The stock had a trading volume of 1,715,003 shares, compared to its average volume of 2,588,979. Seagate Technology Holdings plc has a 52-week low of $82.31 and a 52-week high of $115.32. The firm has a market cap of $18.80 billion, a price-to-earnings ratio of 16.23 and a beta of 1.01. The business's fifty day moving average price is $96.32 and its two-hundred day moving average price is $98.76.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology's payout ratio is 52.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on STX shares. The Goldman Sachs Group decreased their target price on Seagate Technology from $112.00 to $99.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. Bank of America lowered their target price on Seagate Technology from $130.00 to $112.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. Wells Fargo & Company reduced their price target on shares of Seagate Technology from $120.00 to $110.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 16th. Barclays increased their price objective on shares of Seagate Technology from $95.00 to $105.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 22nd. Finally, Summit Insights raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a research note on Wednesday, January 22nd. One 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. According to data from MarketBeat.com, Seagate Technology has a consensus rating of "Moderate Buy" and an average price target of $121.00.

About Seagate Technology

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.