Mystic Asset Management Inc. Invests $302,000 in Seagate Technology Holdings plc (NASDAQ:STX)

Mystic Asset Management Inc. acquired a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,500 shares of the data storage provider's stock, valued at approximately $302,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in Seagate Technology by 133.8% in the third quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider's stock valued at $18,834,000 after acquiring an additional 98,418 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Seagate Technology by 9.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,834 shares of the data storage provider's stock valued at $4,215,000 after acquiring an additional 4,229 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Seagate Technology by 341.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider's stock valued at $143,370,000 after acquiring an additional 1,012,638 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its stake in Seagate Technology by 87.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 8,578 shares of the data storage provider's stock valued at $740,000 after acquiring an additional 4,014 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in Seagate Technology by 9.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 84,222 shares of the data storage provider's stock valued at $7,360,000 after acquiring an additional 7,599 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Northland Securities reiterated an "outperform" rating and issued a $160.00 target price (up from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. Bank of America reduced their price objective on shares of Seagate Technology from $130.00 to $112.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. UBS Group boosted their price objective on shares of Seagate Technology from $95.00 to $105.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Wedbush restated an "outperform" rating and issued a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, January 22nd. Finally, Cantor Fitzgerald restated 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 given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Seagate Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.00.

Seagate Technology Stock Down 0.1 %

Seagate Technology stock traded down $0.11 on Friday, hitting $88.27. The company's stock had a trading volume of 2,575,978 shares, compared to its average volume of 2,591,937. The firm has a market cap of $18.69 billion, a P/E ratio of 16.14 and a beta of 1.01. The company has a fifty day moving average price of $96.32 and a 200-day moving average price of $98.76. Seagate Technology Holdings plc has a one year low of $82.31 and a one year high of $115.32.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology's dividend payout ratio (DPR) is presently 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.