Mitsubishi UFJ Trust & Banking Corp Purchases 22,349 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 24.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,511 shares of the data storage provider's stock after acquiring an additional 22,349 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of Seagate Technology worth $9,970,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of STX. Vanguard Group Inc. raised its position in shares of Seagate Technology by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock valued at $2,414,446,000 after buying an additional 1,814,821 shares in the last quarter. State Street Corp increased its stake in Seagate Technology by 6.8% in 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 acquiring an additional 541,585 shares during the last quarter. Geode Capital Management LLC raised its position in Seagate Technology by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider's stock valued at $454,477,000 after purchasing an additional 318,416 shares in the last quarter. Franklin Resources Inc. lifted its stake in Seagate Technology by 29.5% during 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Seagate Technology by 2.6% in 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 purchasing an additional 34,979 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages have commented on STX. Morgan Stanley reduced their price target on shares of Seagate Technology from $133.00 to $129.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 21st. Cantor Fitzgerald reiterated a "neutral" rating and issued a $120.00 target price on shares of Seagate Technology in a research report on Wednesday, January 22nd. Benchmark raised shares of 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. The Goldman Sachs Group decreased their price objective on Seagate Technology from $112.00 to $99.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Finally, Rosenblatt Securities increased their target price on Seagate Technology from $140.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $121.00.

Insider Transactions at Seagate Technology

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

Seagate Technology Trading Down 14.3 %

STX traded down $12.22 during midday trading on Thursday, reaching $73.30. The company's stock had a trading volume of 2,867,015 shares, compared to its average volume of 2,623,661. The stock's 50-day moving average is $94.67 and its 200-day moving average is $97.96. Seagate Technology Holdings plc has a 1 year low of $72.80 and a 1 year high of $115.32. The firm has a market capitalization of $15.52 billion, a price-to-earnings ratio of 13.40 and a beta of 1.01.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend was Wednesday, March 19th. Seagate Technology's dividend payout ratio (DPR) is 52.65%.

Seagate Technology Company Profile

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.