Norges Bank Acquires New Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Norges Bank purchased a new stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 298,101 shares of the data storage provider's stock, valued at approximately $25,729,000. Norges Bank owned 0.14% of Seagate Technology at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. NEOS Investment Management LLC raised its stake in shares of Seagate Technology by 25.6% during the fourth quarter. NEOS Investment Management LLC now owns 6,076 shares of the data storage provider's stock valued at $524,000 after purchasing an additional 1,238 shares in the last quarter. Elo Mutual Pension Insurance Co raised its position in shares of Seagate Technology by 39.1% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 24,640 shares of the data storage provider's stock worth $2,127,000 after buying an additional 6,920 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Seagate Technology by 14.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 338,201 shares of the data storage provider's stock worth $30,151,000 after buying an additional 41,404 shares in the last quarter. Korea Investment CORP lifted its stake in shares of Seagate Technology by 53.9% in the 4th quarter. Korea Investment CORP now owns 126,550 shares of the data storage provider's stock worth $10,923,000 after acquiring an additional 44,322 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of 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 acquiring an additional 22,349 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

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Seagate Technology Price Performance

Seagate Technology stock traded up $0.41 during mid-day trading on Friday, hitting $70.15. The company's stock had a trading volume of 3,878,543 shares, compared to its average volume of 2,767,484. Seagate Technology Holdings plc has a 52-week low of $63.19 and a 52-week high of $115.32. The company has a market cap of $14.85 billion, a PE ratio of 12.82 and a beta of 1.21. The firm's 50 day moving average is $89.19 and its 200 day moving average is $95.86.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date was Wednesday, March 19th. Seagate Technology's dividend payout ratio (DPR) is 52.65%.

Insider Buying and Selling

In related news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the completion of the sale, the chief executive officer now directly owns 555,677 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. 0.81% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

STX has been the subject of a number of research reports. Barclays increased their price target 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. Wedbush restated an "outperform" rating and issued a $150.00 price objective on shares of Seagate Technology in a report on Wednesday, January 22nd. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $120.00 target price on shares of Seagate Technology in a report on Wednesday, January 22nd. UBS Group boosted their price target 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. Finally, StockNews.com lowered shares of Seagate Technology from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $120.17.

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.