Seagate Technology Holdings plc (NASDAQ:STX) Stake Raised by Picton Mahoney Asset Management

Picton Mahoney Asset Management lifted its position in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 16.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,850 shares of the data storage provider's stock after buying an additional 3,250 shares during the period. Picton Mahoney Asset Management's holdings in Seagate Technology were worth $1,973,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in STX. Sanders Capital LLC increased its holdings in Seagate Technology by 0.9% in the 3rd quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider's stock valued at $1,792,742,000 after purchasing an additional 150,115 shares in the last quarter. State Street Corp increased its holdings in Seagate Technology by 6.8% in the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider's stock valued at $937,081,000 after purchasing an additional 541,585 shares in the last quarter. Geode Capital Management LLC increased its holdings in Seagate Technology by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider's stock valued at $454,477,000 after purchasing an additional 318,416 shares in the last quarter. Franklin Resources Inc. increased its holdings in Seagate Technology by 29.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider's stock valued at $197,844,000 after purchasing an additional 405,232 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Seagate Technology by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,362,899 shares of the data storage provider's stock valued at $117,632,000 after purchasing an additional 34,979 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on STX. Barclays increased their price target on Seagate Technology from $95.00 to $105.00 and gave the company an "equal weight" rating in a report on Wednesday, January 22nd. Wells Fargo & Company lowered their target price on Seagate Technology from $120.00 to $110.00 and set an "equal weight" rating for the company in a research note on Thursday, January 16th. Wedbush restated an "outperform" rating and set a $150.00 target price on shares of Seagate Technology in a research note on Wednesday, January 22nd. Cantor Fitzgerald restated a "neutral" rating and set a $120.00 target price on shares of Seagate Technology in a research note on Wednesday, January 22nd. Finally, The Goldman Sachs Group reduced their price target on shares of Seagate Technology from $112.00 to $99.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $121.00.

Seagate Technology Trading Down 0.6 %

NASDAQ STX traded down $0.55 during trading hours on Thursday, reaching $88.38. The company's stock had a trading volume of 2,058,739 shares, compared to its average volume of 2,597,630. The business has a 50-day simple moving average of $96.34 and a 200 day simple moving average of $98.92. Seagate Technology Holdings plc has a 52 week low of $82.31 and a 52 week high of $115.32. The stock has a market cap of $18.71 billion, a PE ratio of 16.16 and a beta of 1.01.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.26%. 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.