Dynamic Technology Lab Private Ltd bought a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,495 shares of the data storage provider's stock, valued at approximately $820,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board lifted its stake in shares of Seagate Technology by 50.1% in the 3rd quarter. Public Sector Pension Investment Board now owns 10,491 shares of the data storage provider's stock valued at $1,149,000 after purchasing an additional 3,500 shares during the period. Rockefeller Capital Management L.P. purchased a new position in Seagate Technology during the third quarter valued at $1,238,000. Hilltop Holdings Inc. bought a new stake in shares of Seagate Technology during the 3rd quarter valued at $228,000. IHT Wealth Management LLC grew its position in shares of Seagate Technology by 101.9% in the 3rd quarter. IHT Wealth Management LLC now owns 4,033 shares of the data storage provider's stock worth $439,000 after buying an additional 2,035 shares during the period. Finally, Royal London Asset Management Ltd. increased its stake in shares of Seagate Technology by 3.1% in the 3rd quarter. Royal London Asset Management Ltd. now owns 80,698 shares of the data storage provider's stock worth $8,839,000 after acquiring an additional 2,446 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.
Insider Activity at Seagate Technology
In other news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were 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 of the company's stock, valued at approximately $46,988,047.12. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.81% of the company's stock.
Analyst Ratings Changes
A number of research firms have recently issued reports on STX. Rosenblatt Securities raised their price target on Seagate Technology from $140.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Benchmark upgraded Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 price target for the company in a research note on Wednesday, January 22nd. Bank of America dropped their target price on shares of Seagate Technology from $130.00 to $112.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. Barclays upped their price objective on Seagate Technology from $95.00 to $105.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 22nd. Finally, StockNews.com lowered Seagate Technology from a "buy" rating to a "hold" rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $120.17.
Check Out Our Latest Analysis on STX
Seagate Technology Trading Up 0.3 %
Shares of STX traded up $0.21 during trading hours on Friday, reaching $69.95. The company had a trading volume of 1,416,518 shares, compared to its average volume of 3,676,486. Seagate Technology Holdings plc has a 12-month low of $63.19 and a 12-month high of $115.32. The company has a market capitalization of $14.81 billion, a price-to-earnings ratio of 12.77 and a beta of 1.21. The firm has a 50 day simple moving average of $89.68 and a 200-day simple moving average of $96.12.
Seagate Technology Dividend Announcement
The company also recently announced 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 of this dividend was Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 4.12%. Seagate Technology's payout ratio is currently 52.65%.
About Seagate Technology
(
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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