Seagate Technology Holdings plc (NASDAQ:STX) Shares Purchased by BTC Capital Management Inc.

BTC Capital Management Inc. raised its position in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 61.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,071 shares of the data storage provider's stock after acquiring an additional 10,653 shares during the period. BTC Capital Management Inc.'s holdings in Seagate Technology were worth $2,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of STX. Point72 Asset Management L.P. bought a new stake in shares of Seagate Technology in the 3rd quarter valued at approximately $133,031,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 worth $143,370,000 after buying an additional 1,012,638 shares during the last quarter. State Street Corp boosted 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 buying an additional 541,585 shares during the period. Franklin Resources Inc. increased its position in Seagate Technology by 29.5% during the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider's stock valued at $197,844,000 after acquiring an additional 405,232 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Seagate Technology by 8.3% in the third quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider's stock valued at $454,477,000 after acquiring an additional 318,416 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Performance

Shares of STX traded up $1.03 during trading hours on Tuesday, hitting $94.51. The stock had a trading volume of 2,908,948 shares, compared to its average volume of 3,672,964. The firm has a market capitalization of $20.01 billion, a price-to-earnings ratio of 17.28 and a beta of 1.07. The firm has a 50-day moving average price of $95.10 and a 200 day moving average price of $100.08. Seagate Technology Holdings plc has a fifty-two week low of $82.31 and a fifty-two week high of $115.32.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be issued 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 dividend yield of 3.05%. Seagate Technology's payout ratio is currently 52.65%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wells Fargo & Company dropped their price objective on Seagate Technology from $120.00 to $110.00 and set an "equal weight" rating for the company in a report on Thursday, January 16th. UBS Group upped their price target on shares of Seagate Technology from $95.00 to $105.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. StockNews.com raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a research report on Monday, January 27th. Benchmark raised Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 price objective on the stock in a research note on Wednesday, January 22nd. Finally, Wedbush reaffirmed an "outperform" rating and set a $150.00 target price on shares of Seagate Technology in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $122.56.

Insider Transactions at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the transaction, the director now directly owns 6,555 shares in the company, valued at approximately $667,430.10. This represents a 10.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kian Fatt Chong sold 9,182 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $105.50, for a total transaction of $968,701.00. The disclosure for this sale can be found here. Insiders have sold a total of 30,073 shares of company stock worth $3,115,549 in the last quarter. Company insiders own 0.81% of the company's stock.

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.