Capital Research Global Investors Grows Position in Seagate Technology Holdings plc (NASDAQ:STX)

Capital Research Global Investors increased its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 56.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,621,162 shares of the data storage provider's stock after purchasing an additional 5,640,443 shares during the period. Capital Research Global Investors owned 7.38% of Seagate Technology worth $1,348,262,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Seagate Technology by 6.9% in 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 acquiring an additional 1,814,821 shares in the last quarter. Sanders Capital LLC increased its position in shares of Seagate Technology by 1.0% in the 4th quarter. Sanders Capital LLC now owns 16,530,152 shares of the data storage provider's stock worth $1,426,717,000 after purchasing an additional 162,561 shares during the last quarter. Geode Capital Management LLC raised its stake 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 valued at $370,013,000 after purchasing an additional 132,713 shares in the last quarter. Invesco Ltd. lifted its position in shares of Seagate Technology by 14.6% during the fourth quarter. Invesco Ltd. now owns 2,761,534 shares of the data storage provider's stock worth $238,348,000 after purchasing an additional 352,300 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Seagate Technology by 5.7% in the fourth quarter. Franklin Resources Inc. now owns 1,879,855 shares of the data storage provider's stock worth $162,250,000 after purchasing an additional 101,044 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STX has been the topic of several research reports. Wells Fargo & Company cut their price objective on Seagate Technology from $120.00 to $110.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 16th. UBS Group raised their price objective on Seagate Technology from $95.00 to $105.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Morgan Stanley dropped their target price on shares of Seagate Technology from $133.00 to $129.00 and set an "overweight" rating on the stock in a report on Tuesday, January 21st. Summit Insights raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a report on Wednesday, January 22nd. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $120.00 target price on shares of Seagate Technology in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $118.78.

Insiders Place Their Bets

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total value of $1,691,200.00. Following the transaction, the chief executive officer now owns 555,677 shares in the company, valued at $46,988,047.12. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.81% of the company's stock.

Seagate Technology Trading Up 4.1 %

NASDAQ STX opened at $75.80 on Friday. The company has a market cap of $16.05 billion, a PE ratio of 13.86 and a beta of 1.21. Seagate Technology Holdings plc has a 1 year low of $63.19 and a 1 year high of $115.32. The stock's 50-day moving average price is $86.90 and its two-hundred day moving average price is $94.73.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th were paid a $0.72 dividend. The ex-dividend date was Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 3.80%. Seagate Technology's dividend payout ratio is presently 52.65%.

Seagate Technology Company Profile

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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