Bryce Point Capital LLC bought a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 21,224 shares of the data storage provider's stock, valued at approximately $1,832,000. Seagate Technology makes up 0.5% of Bryce Point Capital LLC's holdings, making the stock its 20th biggest position.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Seagate Technology by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock worth $2,414,446,000 after acquiring an additional 1,814,821 shares during the last quarter. State Street Corp lifted its stake in Seagate Technology by 6.8% during the third 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 during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Seagate Technology by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 4,295,225 shares of the data storage provider's stock worth $370,013,000 after purchasing an additional 132,713 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Seagate Technology by 5.7% during the 4th quarter. Franklin Resources Inc. now owns 1,879,855 shares of the data storage provider's stock valued at $162,250,000 after purchasing an additional 101,044 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Seagate Technology by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,362,899 shares of the data storage provider's stock valued at $117,632,000 after buying an additional 34,979 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Seagate Technology
In other news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the sale, the chief executive officer now owns 555,677 shares of the company's stock, valued at $46,988,047.12. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.81% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on STX shares. Citigroup cut their target price on Seagate Technology from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Benchmark raised shares of Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 target price on the stock in a report on Wednesday, January 22nd. Northland Securities reissued an "outperform" rating and issued a $160.00 price target (up from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. Summit Insights raised Seagate Technology from a "hold" rating to a "buy" rating in a research note on Wednesday, January 22nd. Finally, Wedbush reissued an "outperform" rating and issued a $150.00 target price on shares of Seagate Technology in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.00.
Check Out Our Latest Research Report on STX
Seagate Technology Stock Performance
Shares of NASDAQ STX traded down $0.29 during midday trading on Monday, hitting $66.44. 3,092,287 shares of the company traded hands, compared to its average volume of 2,692,646. Seagate Technology Holdings plc has a 12-month low of $61.00 and a 12-month high of $115.32. The firm has a market cap of $14.07 billion, a P/E ratio of 12.15 and a beta of 1.21. The stock has a 50-day moving average price of $93.10 and a 200 day moving average price of $97.48.
Seagate Technology Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Wednesday, March 19th. Seagate Technology's dividend payout ratio (DPR) is presently 52.65%.
Seagate Technology Profile
(
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.
Further Reading
Before you consider Seagate Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Seagate Technology wasn't on the list.
While Seagate Technology currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
