O Shaughnessy Asset Management LLC lessened its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,719 shares of the data storage provider's stock after selling 4,050 shares during the period. O Shaughnessy Asset Management LLC's holdings in Seagate Technology were worth $6,276,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Seagate Technology by 9.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,834 shares of the data storage provider's stock worth $4,215,000 after purchasing an additional 4,229 shares during the period. Kingswood Wealth Advisors LLC lifted its holdings in shares of Seagate Technology by 87.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,578 shares of the data storage provider's stock worth $740,000 after acquiring an additional 4,014 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of Seagate Technology by 9.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 84,222 shares of the data storage provider's stock worth $7,360,000 after acquiring an additional 7,599 shares during the period. Rheos Capital Works Inc. increased its stake in Seagate Technology by 2.5% in the fourth quarter. Rheos Capital Works Inc. now owns 331,500 shares of the data storage provider's stock valued at $28,612,000 after acquiring an additional 8,000 shares during the last quarter. Finally, TCW Group Inc. increased its stake in Seagate Technology by 62.4% in the third quarter. TCW Group Inc. now owns 359,042 shares of the data storage provider's stock valued at $39,326,000 after acquiring an additional 138,001 shares during the last quarter. 92.87% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now owns 555,677 shares in the company, valued at approximately $46,988,047.12. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.81% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. The Goldman Sachs Group reduced their target price on Seagate Technology from $112.00 to $99.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Cantor Fitzgerald reissued a "neutral" rating and set a $120.00 target price on shares of Seagate Technology in a research note on Wednesday, January 22nd. Mizuho reduced their price target on shares of Seagate Technology from $130.00 to $110.00 and set an "outperform" rating on the stock in a research note on Friday, January 10th. Wedbush reiterated an "outperform" rating and set a $150.00 price objective on shares of Seagate Technology in a research report on Wednesday, January 22nd. Finally, Summit Insights upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $121.00.
Check Out Our Latest Stock Analysis on Seagate Technology
Seagate Technology Price Performance
NASDAQ STX traded down $4.80 during mid-day trading on Friday, reaching $66.73. 9,249,913 shares of the stock were exchanged, compared to its average volume of 2,690,581. The stock has a market cap of $14.13 billion, a P/E ratio of 12.20 and a beta of 1.01. The stock has a 50 day simple moving average of $93.10 and a 200-day simple moving average of $97.48. Seagate Technology Holdings plc has a one year low of $63.95 and a one year high of $115.32.
Seagate Technology Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Wednesday, March 19th. Seagate Technology's dividend payout ratio is 52.65%.
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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