Primecap Management Co. CA Grows Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Primecap Management Co. CA boosted its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 26.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 762,155 shares of the data storage provider’s stock after purchasing an additional 160,735 shares during the quarter. Primecap Management Co. CA owned about 0.36% of Seagate Technology worth $65,782,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Sanders Capital LLC raised its stake in shares of Seagate Technology by 0.9% in the third quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider’s stock valued at $1,792,742,000 after acquiring an additional 150,115 shares during the period. State Street Corp raised its stake in shares of Seagate Technology by 6.8% in 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 acquiring an additional 541,585 shares during the period. Geode Capital Management LLC raised its stake in shares of 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 valued at $454,477,000 after acquiring an additional 318,416 shares during the period. Franklin Resources Inc. raised its stake in shares of Seagate Technology by 29.5% in 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 acquiring an additional 405,232 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Seagate Technology by 2.6% in 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 acquiring an additional 34,979 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Down 2.1 %

Shares of Seagate Technology stock opened at $88.64 on Wednesday. The firm’s 50 day moving average price is $96.33 and its 200-day moving average price is $98.99. Seagate Technology Holdings plc has a 52-week low of $82.31 and a 52-week high of $115.32. The company has a market cap of $18.77 billion, a P/E ratio of 16.20 and a beta of 1.01.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s payout ratio is currently 52.65%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on STX. UBS Group increased their target price on shares of Seagate Technology from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Susquehanna raised their price target on shares of Seagate Technology from $65.00 to $68.00 and gave the stock a “negative” rating in a research note on Wednesday, January 22nd. Barclays raised their price target 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. Northland Securities reaffirmed an “outperform” rating and issued a $160.00 price target (up previously from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. Finally, Benchmark raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.00.

Seagate Technology 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.