Geode Capital Management LLC Boosts Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Geode Capital Management LLC raised its holdings in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,295,225 shares of the data storage provider's stock after purchasing an additional 132,713 shares during the quarter. Geode Capital Management LLC owned approximately 2.03% of Seagate Technology worth $370,013,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in 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 buying an additional 1,814,821 shares during the last quarter. State Street Corp grew its holdings in Seagate Technology by 6.8% during the third 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 during the period. Franklin Resources Inc. raised its holdings 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 during the period. Charles Schwab Investment Management Inc. raised its stake in Seagate Technology by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,362,899 shares of the data storage provider's stock worth $117,632,000 after buying an additional 34,979 shares during the period. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Seagate Technology by 2.5% during the 4th quarter. Allianz Asset Management GmbH now owns 1,007,679 shares of the data storage provider's stock valued at $86,973,000 after purchasing an additional 24,773 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

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Insider Buying and Selling

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company'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 directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.81% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Summit Insights upgraded Seagate Technology from a "hold" rating to a "buy" rating in a report on Wednesday, January 22nd. StockNews.com lowered Seagate Technology from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Wedbush reaffirmed an "outperform" rating and set a $150.00 price target on shares of Seagate Technology in a research note on Wednesday, January 22nd. The Goldman Sachs Group decreased their target price on shares of Seagate Technology from $112.00 to $99.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. Finally, Mizuho reduced their price objective on shares of Seagate Technology from $115.00 to $95.00 and set an "outperform" rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $120.17.

Seagate Technology Trading Down 5.5 %

Shares of STX stock traded down $4.11 during trading hours on Thursday, hitting $70.18. 1,583,316 shares of the company were exchanged, compared to its average volume of 2,746,581. The firm has a fifty day simple moving average of $90.15 and a 200 day simple moving average of $96.38. Seagate Technology Holdings plc has a 52-week low of $63.19 and a 52-week high of $115.32. The stock has a market capitalization of $14.86 billion, a price-to-earnings ratio of 12.87 and a beta of 1.21.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a yield of 4.10%. Seagate Technology's payout ratio is 52.65%.

About Seagate Technology

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.