California Public Employees Retirement System decreased its position in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 876,714 shares of the data storage provider's stock after selling 21,975 shares during the quarter. California Public Employees Retirement System owned 0.41% of Seagate Technology worth $75,669,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in STX. Vanguard Group Inc. lifted its position in shares of Seagate Technology by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock worth $2,414,446,000 after purchasing an additional 1,814,821 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Seagate Technology during the third quarter valued at approximately $133,031,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Seagate Technology by 341.7% during 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 worth $143,370,000 after buying an additional 1,012,638 shares during the last quarter. State Street Corp grew its position in shares of 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 acquiring an additional 541,585 shares in the last quarter. Finally, National Pension Service bought a new stake in shares of Seagate Technology in the 4th quarter valued at approximately $43,436,000. Hedge funds and other institutional investors own 92.87% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on STX shares. Bank of America decreased their price objective on shares of Seagate Technology from $130.00 to $112.00 and set a "buy" rating for the company in a report on Thursday, March 13th. Susquehanna increased their price objective on shares of Seagate Technology from $65.00 to $68.00 and gave the stock a "negative" rating in a research note on Wednesday, January 22nd. StockNews.com downgraded Seagate Technology from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Citigroup dropped their price target on Seagate Technology from $125.00 to $115.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Finally, Morgan Stanley reduced their price objective on Seagate Technology from $133.00 to $129.00 and set an "overweight" rating for the company in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $121.00.
Get Our Latest Stock Report on STX
Insider Buying and Selling
In related news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the completion of the sale, the chief executive officer now owns 555,677 shares in the company, valued at $46,988,047.12. This represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.81% of the stock is owned by insiders.
Seagate Technology Price Performance
Shares of STX stock traded down $13.99 during trading on Thursday, reaching $71.53. The company had a trading volume of 12,914,598 shares, compared to its average volume of 2,663,086. The firm's 50 day simple moving average is $94.67 and its two-hundred day simple moving average is $97.96. Seagate Technology Holdings plc has a one year low of $71.02 and a one year high of $115.32. The company has a market capitalization of $15.14 billion, a PE ratio of 13.08 and a beta of 1.01.
Seagate Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Wednesday, March 19th. Seagate Technology's payout ratio is 52.65%.
Seagate Technology Company 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.
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