Korea Investment CORP lifted its stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 53.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,550 shares of the data storage provider's stock after purchasing an additional 44,322 shares during the quarter. Korea Investment CORP owned 0.06% of Seagate Technology worth $10,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its holdings in shares of Seagate Technology by 177.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider's stock valued at $44,000 after buying an additional 258 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Seagate Technology during the third quarter valued at approximately $54,000. JFS Wealth Advisors LLC boosted its holdings in Seagate Technology by 27.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock worth $46,000 after buying an additional 113 shares during the period. Quarry LP boosted its stake in shares of 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. Finally, Human Investing LLC purchased a new stake in Seagate Technology during the 4th quarter valued at approximately $48,000. Institutional investors own 92.87% of the company's stock.
Insiders Place Their Bets
In other news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction dated 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 $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 available at this hyperlink. 0.81% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on STX. Morgan Stanley reduced their price target on shares of Seagate Technology from $133.00 to $129.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 21st. Benchmark upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 target price on the stock in a report on Wednesday, January 22nd. UBS Group lifted their price target on Seagate Technology from $95.00 to $105.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Barclays upped their price objective on Seagate Technology from $95.00 to $105.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 22nd. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $120.00 target price on shares of Seagate Technology in a report on Wednesday, January 22nd. One equities 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 stock. According to MarketBeat.com, Seagate Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $121.00.
View Our Latest Report on STX
Seagate Technology Stock Down 6.7 %
Shares of STX traded down $4.80 on Friday, reaching $66.73. The stock had a trading volume of 9,249,913 shares, compared to its average volume of 2,690,211. The firm has a 50-day moving average of $93.10 and a 200 day moving average of $97.54. Seagate Technology Holdings plc has a twelve month low of $63.35 and a twelve month high of $115.32. The firm has a market capitalization of $14.13 billion, a PE ratio of 12.20 and a beta of 1.01.
Seagate Technology Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th were paid a $0.72 dividend. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 4.32%. Seagate Technology's payout ratio is currently 52.65%.
About Seagate Technology
(
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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