Pictet Asset Management Holding SA Purchases 14,100 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Pictet Asset Management Holding SA lifted its position in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 13.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 119,528 shares of the data storage provider's stock after purchasing an additional 14,100 shares during the period. Pictet Asset Management Holding SA owned about 0.06% of Seagate Technology worth $10,316,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. JFS Wealth Advisors LLC raised its position in Seagate Technology by 27.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock valued at $46,000 after purchasing an additional 113 shares during the last quarter. Human Investing LLC purchased a new position in shares of Seagate Technology during the fourth quarter valued at approximately $48,000. Wilmington Savings Fund Society FSB bought a new position in shares of Seagate Technology during the third quarter valued at approximately $54,000. S.A. Mason LLC purchased a new stake in Seagate Technology in the fourth quarter worth $55,000. Finally, Quarry LP lifted its stake in Seagate Technology by 108.4% in the third quarter. Quarry LP now owns 546 shares of the data storage provider's stock worth $60,000 after acquiring an additional 284 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STX has been the subject of several research reports. UBS Group upped their price objective on shares of Seagate Technology from $95.00 to $105.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. StockNews.com downgraded shares of Seagate Technology from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Wells Fargo & Company cut their price objective on Seagate Technology from $120.00 to $110.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 16th. 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. Finally, Barclays raised their target price 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $121.00.

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Seagate Technology Stock Performance

Shares of NASDAQ:STX traded up $1.93 during trading on Monday, reaching $68.66. 7,297,489 shares of the stock traded hands, compared to its average volume of 2,708,936. Seagate Technology Holdings plc has a 52-week low of $63.95 and a 52-week high of $115.32. The stock has a market cap of $14.54 billion, a P/E ratio of 12.55 and a beta of 1.21. The stock has a 50-day moving average of $92.40 and a two-hundred day moving average of $97.23.

Seagate Technology Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend was Wednesday, March 19th. Seagate Technology's dividend payout ratio is currently 52.65%.

Insider Activity

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company's 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 completion of the sale, the chief executive officer now directly owns 555,677 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.81% of the company's stock.

Seagate Technology 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.