Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 9.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,834 shares of the data storage provider's stock after purchasing an additional 4,229 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Seagate Technology were worth $4,215,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new stake in Seagate Technology during the third quarter valued at approximately $133,031,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Seagate Technology by 341.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider's stock valued at $143,370,000 after buying an additional 1,012,638 shares during the last quarter. State Street Corp increased its holdings in Seagate Technology by 6.8% during the third quarter. State Street Corp now owns 8,502,674 shares of the data storage provider's stock valued at $937,081,000 after buying an additional 541,585 shares during the last quarter. Franklin Resources Inc. increased its holdings in Seagate Technology by 29.5% during the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider's stock valued at $197,844,000 after buying an additional 405,232 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Seagate Technology by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider's stock valued at $454,477,000 after buying an additional 318,416 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STX has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective 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. UBS Group increased their price objective on shares of Seagate Technology from $95.00 to $105.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Cantor Fitzgerald reissued a "neutral" rating and issued a $120.00 price objective on shares of Seagate Technology in a research note on Wednesday, January 22nd. Barclays increased their price objective on shares of Seagate Technology from $95.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 22nd. Finally, Wedbush reissued an "outperform" rating and issued a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $122.56.

Seagate Technology Stock Performance

STX stock traded up $1.38 during trading on Wednesday, hitting $99.21. 3,385,235 shares of the company's stock traded hands, compared to its average volume of 3,401,049. Seagate Technology Holdings plc has a 52 week low of $82.31 and a 52 week high of $115.32. The business has a fifty day simple moving average of $94.44 and a 200 day simple moving average of $99.63. The stock has a market capitalization of $21.00 billion, a price-to-earnings ratio of 18.14 and a beta of 1.07.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 2.90%. Seagate Technology's dividend payout ratio (DPR) is currently 52.65%.

Insider Buying and Selling at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $102.83, for a total value of $2,056,600.00. Following the completion of the sale, the chief executive officer now owns 622,497 shares in the company, valued at approximately $64,011,366.51. This trade represents a 3.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the sale, the director now owns 6,555 shares of the company's stock, valued at $667,430.10. This trade represents a 10.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,891 shares of company stock worth $2,146,848 over the last 90 days. 0.81% of the stock is owned by insiders.

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.