Franklin Resources Inc. Buys 101,044 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Franklin Resources Inc. raised its position in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,879,855 shares of the data storage provider's stock after acquiring an additional 101,044 shares during the period. Franklin Resources Inc. owned approximately 0.89% of Seagate Technology worth $162,250,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Seagate Technology by 9.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,834 shares of the data storage provider's stock valued at $4,215,000 after buying an additional 4,229 shares during the period. Kingswood Wealth Advisors LLC increased its holdings in Seagate Technology by 87.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,578 shares of the data storage provider's stock valued at $740,000 after buying an additional 4,014 shares during the period. Asset Management One Co. Ltd. increased its stake in Seagate Technology by 9.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 84,222 shares of the data storage provider's stock valued at $7,360,000 after acquiring an additional 7,599 shares during the last quarter. Rheos Capital Works Inc. increased its stake in shares of Seagate Technology by 2.5% in the 4th quarter. Rheos Capital Works Inc. now owns 331,500 shares of the data storage provider's stock valued at $28,612,000 after purchasing an additional 8,000 shares during the last quarter. Finally, TCW Group Inc. boosted 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 buying an additional 138,001 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts recently commented on STX shares. Citigroup dropped their price objective on shares of Seagate Technology from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. UBS Group boosted their price target on Seagate Technology from $95.00 to $105.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Mizuho decreased their price objective on shares of Seagate Technology from $130.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday, January 10th. Wedbush restated an "outperform" rating and set a $150.00 target price on shares of Seagate Technology in a research report on Wednesday, January 22nd. Finally, Morgan Stanley decreased their target price on Seagate Technology from $133.00 to $129.00 and set an "overweight" rating for the company in a research note on Tuesday, January 21st. One research 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.00.

Insider Transactions at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total value of $1,691,200.00. Following 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 SEC, which can be accessed through the SEC website. Corporate insiders own 0.81% of the company's stock.

Seagate Technology Stock Down 0.4 %

STX traded down $0.25 during trading hours on Monday, hitting $66.48. The stock had a trading volume of 2,603,503 shares, compared to its average volume of 2,690,605. The stock has a market cap of $14.07 billion, a PE ratio of 12.20 and a beta of 1.21. Seagate Technology Holdings plc has a 1 year low of $61.00 and a 1 year high of $115.32. The company's fifty day simple moving average is $93.10 and its 200 day simple moving average is $97.48.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $2.88 annualized dividend and a dividend yield of 4.33%. Seagate Technology's dividend payout ratio is currently 52.65%.

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.