Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 14.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 338,201 shares of the data storage provider's stock after purchasing an additional 41,404 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Seagate Technology worth $30,151,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Korea Investment CORP increased its holdings in Seagate Technology by 53.9% in the 4th quarter. Korea Investment CORP now owns 126,550 shares of the data storage provider's stock valued at $10,923,000 after buying an additional 44,322 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Seagate Technology by 24.0% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 115,511 shares of the data storage provider's stock valued at $9,970,000 after buying an additional 22,349 shares in the last quarter. Corebridge Financial Inc. grew its position in Seagate Technology by 2.3% in the fourth quarter. Corebridge Financial Inc. now owns 87,792 shares of the data storage provider's stock valued at $7,577,000 after acquiring an additional 1,964 shares during the last quarter. Vanguard Group Inc. raised its stake 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 acquiring an additional 1,814,821 shares in the last quarter. Finally, Stevens Capital Management LP bought a new position in shares of Seagate Technology in the fourth quarter worth about $705,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.
Seagate Technology Price Performance
Shares of STX stock traded down $0.41 on Tuesday, hitting $84.54. The stock had a trading volume of 2,728,184 shares, compared to its average volume of 2,623,026. Seagate Technology Holdings plc has a 12-month low of $82.31 and a 12-month high of $115.32. The stock has a market cap of $17.90 billion, a price-to-earnings ratio of 15.46 and a beta of 1.01. The business has a 50 day moving average of $95.45 and a 200 day moving average of $98.17.
Seagate Technology Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.41%. Seagate Technology's payout ratio is presently 52.65%.
Analysts Set New Price Targets
STX has been the subject of a number of research analyst reports. UBS Group upped their price objective 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. Wedbush reiterated an "outperform" rating and set a $150.00 price target on shares of Seagate Technology in a report on Wednesday, January 22nd. Susquehanna raised their price objective on Seagate Technology from $65.00 to $68.00 and gave the company a "negative" rating in a report on Wednesday, January 22nd. StockNews.com cut Seagate Technology from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Finally, Morgan Stanley cut their price target on Seagate Technology from $133.00 to $129.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 21st. One investment 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.com, the company currently has an average rating of "Moderate Buy" and an average target price of $121.00.
Read Our Latest Report on STX
Seagate Technology Profile
(
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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