MSH Capital Advisors LLC Makes New $701,000 Investment in Seagate Technology Holdings plc (NASDAQ:STX)

MSH Capital Advisors LLC acquired a new stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,118 shares of the data storage provider's stock, valued at approximately $701,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of 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. Sanders Capital LLC raised its holdings in Seagate Technology by 1.0% during the fourth quarter. Sanders Capital LLC now owns 16,530,152 shares of the data storage provider's stock worth $1,426,717,000 after purchasing an additional 162,561 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Seagate Technology by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 4,295,225 shares of the data storage provider's stock worth $370,013,000 after buying an additional 132,713 shares in the last quarter. Invesco Ltd. grew its position in shares of Seagate Technology by 14.6% in the fourth quarter. Invesco Ltd. now owns 2,761,534 shares of the data storage provider's stock valued at $238,348,000 after purchasing an additional 352,300 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Seagate Technology by 5.7% during the fourth quarter. Franklin Resources Inc. now owns 1,879,855 shares of the data storage provider's stock worth $162,250,000 after buying an additional 101,044 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Stock Up 4.1 %

Shares of NASDAQ:STX traded up $2.98 on Friday, reaching $75.80. 4,588,360 shares of the company's stock were exchanged, compared to its average volume of 2,793,698. The firm has a market capitalization of $16.05 billion, a price-to-earnings ratio of 13.86 and a beta of 1.21. Seagate Technology Holdings plc has a fifty-two week low of $63.19 and a fifty-two week high of $115.32. The business's 50-day moving average is $86.90 and its two-hundred day moving average is $94.73.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th were paid a dividend of $0.72 per share. The ex-dividend date was Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a yield of 3.80%. Seagate Technology's payout ratio is currently 52.65%.

Insider Buying and Selling

In related news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on STX. Morgan Stanley cut their price objective on shares of Seagate Technology from $133.00 to $129.00 and set an "overweight" rating for the company in a research report on Tuesday, January 21st. Northland Securities restated an "outperform" rating and set a $160.00 price objective (up previously from $144.00) on shares of Seagate Technology in a report on Wednesday, January 22nd. Susquehanna increased their target price on Seagate Technology from $65.00 to $68.00 and gave the stock a "negative" rating in a research report on Wednesday, January 22nd. Summit Insights raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a research report on Wednesday, January 22nd. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $120.00 price objective on shares of Seagate Technology in a research note 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 given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $118.78.

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.