Talos Asset Management LP Buys New Shares in Seagate Technology Holdings plc (NASDAQ:STX)

Talos Asset Management LP bought a new position in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 199,500 shares of the data storage provider's stock, valued at approximately $17,219,000. Seagate Technology comprises 4.1% of Talos Asset Management LP's holdings, making the stock its 10th largest holding. Talos Asset Management LP owned approximately 0.09% of Seagate Technology at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Berkshire Bank boosted its stake in Seagate Technology by 2.6% in the fourth quarter. Berkshire Bank now owns 4,118 shares of the data storage provider's stock valued at $355,000 after acquiring an additional 103 shares during the last quarter. MWA Asset Management raised its holdings in shares of Seagate Technology by 0.5% in the 4th quarter. MWA Asset Management now owns 19,636 shares of the data storage provider's stock worth $1,695,000 after purchasing an additional 104 shares during the period. JFS Wealth Advisors LLC lifted its stake in Seagate Technology by 27.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock valued at $46,000 after purchasing an additional 113 shares during the last quarter. Signaturefd LLC grew its holdings in Seagate Technology by 2.3% during the fourth quarter. Signaturefd LLC now owns 4,988 shares of the data storage provider's stock valued at $431,000 after purchasing an additional 113 shares during the period. Finally, My Legacy Advisors LLC increased its position in Seagate Technology by 3.9% in the fourth quarter. My Legacy Advisors LLC now owns 3,113 shares of the data storage provider's stock worth $294,000 after buying an additional 118 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

Several equities research analysts recently weighed in on STX shares. UBS Group lifted their price objective on Seagate Technology from $95.00 to $105.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Barclays lifted their target price 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. Bank of America dropped their price target on shares of Seagate Technology from $130.00 to $112.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. The Goldman Sachs Group reduced their price objective on shares of Seagate Technology from $112.00 to $99.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Finally, Northland Securities restated an "outperform" rating and set a $160.00 target price (up previously from $144.00) on shares of Seagate Technology in a research 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.00.

Seagate Technology Price Performance

STX stock traded up $0.52 during midday trading on Monday, reaching $88.79. The company had a trading volume of 1,715,003 shares, compared to its average volume of 2,588,979. The firm has a 50-day moving average price of $96.32 and a 200-day moving average price of $98.76. The company has a market capitalization of $18.80 billion, a P/E ratio of 16.23 and a beta of 1.01. Seagate Technology Holdings plc has a 1 year low of $82.31 and a 1 year high of $115.32.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.24%. Seagate Technology's dividend payout ratio is 52.65%.

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.