KLP Kapitalforvaltning AS Makes New $5.72 Million Investment in Seagate Technology Holdings plc (NASDAQ:STX)

KLP Kapitalforvaltning AS bought a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 65,695 shares of the data storage provider's stock, valued at approximately $5,717,000.

Several other hedge funds also recently bought and sold shares of STX. Sanders Capital LLC lifted its stake in shares of 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 worth $1,792,742,000 after purchasing an additional 150,115 shares during the period. State Street Corp boosted its stake in Seagate Technology by 6.8% in the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider's stock worth $937,081,000 after buying an additional 541,585 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 period. Franklin Resources Inc. increased its stake in shares of Seagate Technology by 29.5% during 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 acquiring an additional 405,232 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 acquiring an additional 34,979 shares during the period. Hedge funds and other institutional investors own 92.87% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. UBS Group upped their price target on shares of Seagate Technology from $95.00 to $105.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group dropped their price objective on Seagate Technology from $112.00 to $99.00 and set a "neutral" rating for the company in a report on Friday, January 10th. Susquehanna lifted their target price on Seagate Technology from $65.00 to $68.00 and gave the company a "negative" rating in a report on Wednesday, January 22nd. Wells Fargo & Company dropped their price target on Seagate Technology from $120.00 to $110.00 and set an "equal weight" rating for the company in a research note on Thursday, January 16th. Finally, Mizuho reduced their price objective on Seagate Technology from $130.00 to $110.00 and set an "outperform" rating on the stock in a research note on Friday, January 10th. One research 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's stock. Based on data from MarketBeat.com, Seagate Technology currently has a consensus rating of "Moderate Buy" and an average target price of $121.00.

Seagate Technology Stock Down 2.8 %

Shares of STX traded down $2.43 during midday trading on Friday, hitting $85.08. The company had a trading volume of 769,158 shares, compared to its average volume of 3,256,321. The stock has a market cap of $18.01 billion, a price-to-earnings ratio of 15.55 and a beta of 1.01. The company's 50 day moving average price is $95.96 and its 200 day moving average price is $98.46. Seagate Technology Holdings plc has a 52 week low of $82.31 and a 52 week high of $115.32.

Seagate Technology Dividend Announcement

The business also recently disclosed 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 yield of 3.39%. Seagate Technology's payout ratio is currently 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.