Raymond James Financial Inc. Acquires Shares of 266,028 Seagate Technology Holdings plc (NASDAQ:STX)

Raymond James Financial Inc. bought a new stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 266,028 shares of the data storage provider's stock, valued at approximately $22,961,000. Raymond James Financial Inc. owned 0.13% of Seagate Technology as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the business. APG Asset Management N.V. increased its holdings in Seagate Technology by 1,088.7% in the 4th quarter. APG Asset Management N.V. now owns 125,900 shares of the data storage provider's stock valued at $10,494,000 after buying an additional 115,309 shares during the period. Advisory Services Network LLC increased its stake in Seagate Technology by 11.9% in the fourth quarter. Advisory Services Network LLC now owns 23,529 shares of the data storage provider's stock valued at $2,031,000 after acquiring an additional 2,496 shares during the last quarter. Greenland Capital Management LP raised its position in Seagate Technology by 142.4% during the fourth quarter. Greenland Capital Management LP now owns 74,204 shares of the data storage provider's stock valued at $6,405,000 after purchasing an additional 43,593 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Seagate Technology by 41.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,027,793 shares of the data storage provider's stock worth $88,709,000 after purchasing an additional 300,400 shares during the last quarter. Finally, FIL Ltd acquired a new stake in shares of Seagate Technology in the 4th quarter valued at $3,145,000. 92.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on STX shares. Barclays upped their price objective on Seagate Technology from $95.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 22nd. Benchmark upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 price target on the stock in a research note on Wednesday, January 22nd. StockNews.com lowered shares of Seagate Technology from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Bank of America dropped 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. Finally, Rosenblatt Securities boosted their target price on shares of Seagate Technology from $140.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $118.78.

Seagate Technology Stock Up 4.1 %

STX stock opened at $75.80 on Friday. The firm has a market cap of $16.05 billion, a price-to-earnings ratio of 13.86 and a beta of 1.21. The company's fifty day simple moving average is $86.90 and its 200 day simple moving average is $94.73. Seagate Technology Holdings plc has a 12-month low of $63.19 and a 12-month 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 3.80%. The ex-dividend date of this dividend was Wednesday, March 19th. Seagate Technology's dividend payout ratio is 52.65%.

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 555,677 shares of the company's stock, valued at $46,988,047.12. This 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 can be accessed through the SEC website. 0.81% of the stock is owned by corporate insiders.

About Seagate Technology

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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