Cibc World Market Inc. Increases Position in Seagate Technology Holdings plc (NASDAQ:STX)

Cibc World Market Inc. lifted its stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 14.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,321 shares of the data storage provider's stock after buying an additional 17,851 shares during the period. Cibc World Market Inc. owned about 0.07% of Seagate Technology worth $12,111,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of STX. Sanders Capital LLC increased its holdings in Seagate Technology by 0.9% during the 3rd quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider's stock valued at $1,792,742,000 after purchasing an additional 150,115 shares in the last quarter. State Street Corp increased its holdings in Seagate Technology by 6.8% during the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider's stock valued at $937,081,000 after purchasing an additional 541,585 shares in the last quarter. Geode Capital Management LLC boosted its position in Seagate Technology by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider's stock valued at $454,477,000 after buying an additional 318,416 shares during the last quarter. Franklin Resources Inc. boosted its position in Seagate Technology by 29.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider's stock valued at $197,844,000 after buying an additional 405,232 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Seagate Technology by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,327,920 shares of the data storage provider's stock valued at $145,447,000 after buying an additional 73,267 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on STX shares. UBS Group raised their price target on Seagate Technology from $95.00 to $105.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Summit Insights upgraded Seagate Technology from a "hold" rating to a "buy" rating in a research report on Wednesday, January 22nd. Citigroup raised their price target on Seagate Technology from $120.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. Evercore ISI raised their price objective on Seagate Technology from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Finally, Northland Securities reaffirmed an "outperform" rating and set a $160.00 price objective (up previously from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $122.56.

Seagate Technology Stock Down 2.0 %

STX stock traded down $1.92 during mid-day trading on Friday, reaching $96.36. 2,799,188 shares of the company traded hands, compared to its average volume of 3,372,411. The stock has a market cap of $20.40 billion, a price-to-earnings ratio of 17.62 and a beta of 1.06. Seagate Technology Holdings plc has a fifty-two week low of $82.31 and a fifty-two week high of $115.32. The firm's 50 day moving average price is $95.10 and its 200 day moving average price is $100.08.

Seagate Technology Announces Dividend

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 given a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 annualized dividend and a dividend yield of 2.99%. Seagate Technology's dividend payout ratio is currently 52.65%.

Insiders Place Their Bets

In related news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $102.83, for a total value of $2,056,600.00. Following the completion of the transaction, the chief executive officer now directly owns 622,497 shares in the company, valued at approximately $64,011,366.51. The trade was a 3.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kian Fatt Chong sold 9,182 shares of Seagate Technology stock in a transaction that occurred on 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 valued at $3,115,549 in the last 90 days. 0.81% of the stock is currently owned by corporate insiders.

Seagate Technology 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.