Cibc World Markets Corp increased its stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 19.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,305 shares of the data storage provider's stock after purchasing an additional 5,392 shares during the quarter. Cibc World Markets Corp's holdings in Seagate Technology were worth $2,875,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its stake in shares of Seagate Technology by 177.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider's stock worth $44,000 after purchasing an additional 258 shares in the last quarter. JFS Wealth Advisors LLC grew its holdings in Seagate Technology by 27.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock valued at $46,000 after purchasing an additional 113 shares during the period. Human Investing LLC purchased a new stake in Seagate Technology in the fourth quarter worth about $48,000. Harvest Fund Management Co. Ltd bought a new position in shares of Seagate Technology in the third quarter worth about $53,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Seagate Technology during the 3rd quarter valued at about $54,000. Institutional investors own 92.87% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the stock. UBS Group raised their target price on shares of Seagate Technology from $95.00 to $105.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Benchmark upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 price objective on the stock in a research report on Wednesday, January 22nd. The Goldman Sachs Group cut their price target on Seagate Technology from $112.00 to $99.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Bank of America lowered their price objective on Seagate Technology from $130.00 to $112.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. Finally, 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 report on Tuesday, March 18th. One 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, Seagate Technology presently has an average rating of "Moderate Buy" and a consensus target price of $121.00.
View Our Latest Stock Report on STX
Seagate Technology Price Performance
Shares of NASDAQ:STX traded down $0.83 during trading on Tuesday, hitting $87.96. The company had a trading volume of 3,153,929 shares, compared to its average volume of 2,588,825. The company has a fifty day simple moving average of $96.32 and a two-hundred day simple moving average of $98.68. Seagate Technology Holdings plc has a one year low of $82.31 and a one year high of $115.32. The stock has a market cap of $18.62 billion, a price-to-earnings ratio of 16.08 and a beta of 1.01.
Seagate Technology Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be paid 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 3.27%. Seagate Technology's dividend payout ratio is presently 52.65%.
Seagate Technology Profile
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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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