LPL Financial LLC Has $14.67 Million Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

LPL Financial LLC lifted its stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 169,918 shares of the data storage provider's stock after buying an additional 10,894 shares during the period. LPL Financial LLC owned about 0.08% of Seagate Technology worth $14,666,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Point72 Asset Management L.P. bought a new stake in Seagate Technology during the third quarter worth about $133,031,000. State Street Corp grew its position 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 worth $937,081,000 after acquiring an additional 541,585 shares during the last quarter. National Pension Service acquired a new stake in Seagate Technology during the 4th quarter valued at $43,436,000. Los Angeles Capital Management LLC increased its holdings in Seagate Technology by 176.6% during the 4th quarter. Los Angeles Capital Management LLC now owns 741,592 shares of the data storage provider's stock valued at $64,007,000 after purchasing an additional 473,484 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Seagate Technology by 29.5% in the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider's stock worth $197,844,000 after purchasing an additional 405,232 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

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Insider Buying and Selling at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction 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 sale, the chief executive officer now directly owns 555,677 shares in the company, valued at $46,988,047.12. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.81% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on STX. Barclays raised their target price on Seagate Technology from $95.00 to $105.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 22nd. Rosenblatt Securities boosted their target price on shares of Seagate Technology from $140.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Northland Securities reissued an "outperform" rating and set a $160.00 price target (up from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. StockNews.com cut shares of Seagate Technology from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Benchmark raised Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 price objective on the stock in a report on Wednesday, January 22nd. One equities 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 MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $121.00.

Seagate Technology Price Performance

STX traded down $13.99 during mid-day trading on Thursday, hitting $71.53. The stock had a trading volume of 12,914,598 shares, compared to its average volume of 2,663,400. Seagate Technology Holdings plc has a 1-year low of $71.02 and a 1-year high of $115.32. The firm has a market capitalization of $15.14 billion, a price-to-earnings ratio of 13.08 and a beta of 1.01. The stock's fifty day simple moving average is $94.67 and its 200-day simple moving average is $97.96.

Seagate Technology Announces Dividend

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 was Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 4.03%. Seagate Technology's dividend payout ratio is presently 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.