Sei Investments Co. Trims Position in Seagate Technology Holdings plc (NASDAQ:STX)

Sei Investments Co. trimmed its stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 75.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,124 shares of the data storage provider's stock after selling 15,926 shares during the period. Sei Investments Co.'s holdings in Seagate Technology were worth $442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC lifted its stake in Seagate Technology by 8.3% in the third quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider's stock worth $454,477,000 after acquiring an additional 318,416 shares during the period. Franklin Resources Inc. lifted its position in shares of 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 worth $197,844,000 after purchasing an additional 405,232 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Seagate Technology by 2.6% during the fourth 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. Allianz Asset Management GmbH increased its holdings in Seagate Technology by 2.5% during the fourth quarter. Allianz Asset Management GmbH now owns 1,007,679 shares of the data storage provider's stock valued at $86,973,000 after buying an additional 24,773 shares during the period. Finally, Primecap Management Co. CA raised its stake in Seagate Technology by 26.7% in the fourth quarter. Primecap Management Co. CA now owns 762,155 shares of the data storage provider's stock worth $65,782,000 after buying an additional 160,735 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the business's stock in a transaction that occurred on 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 approximately $46,988,047.12. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.81% of the stock is owned by insiders.

Seagate Technology Trading Up 2.9 %

STX traded up $2.02 during trading on Monday, hitting $72.17. The company's stock had a trading volume of 1,559,220 shares, compared to its average volume of 2,764,077. The firm has a market capitalization of $15.28 billion, a price-to-earnings ratio of 13.19 and a beta of 1.21. Seagate Technology Holdings plc has a twelve month low of $63.19 and a twelve month high of $115.32. The business's fifty day simple moving average is $89.19 and its 200 day simple moving average is $95.75.

Seagate Technology Announces Dividend

The business also recently declared 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 was Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a yield of 3.99%. Seagate Technology's dividend payout ratio is currently 52.65%.

Analysts Set New Price Targets

STX has been the topic of a number of analyst reports. UBS Group lifted their price target on Seagate Technology from $95.00 to $105.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Northland Securities reiterated an "outperform" rating and issued a $160.00 target price (up from $144.00) on shares of Seagate Technology in a report on Wednesday, January 22nd. StockNews.com cut shares of Seagate Technology from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Rosenblatt Securities boosted their price objective 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. Finally, Wells Fargo & Company lowered their target price on shares of 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $120.17.

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.