Vanguard Group Inc. Buys 1,814,821 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Vanguard Group Inc. lifted its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,974,117 shares of the data storage provider’s stock after acquiring an additional 1,814,821 shares during the period. Vanguard Group Inc. owned approximately 13.21% of Seagate Technology worth $2,414,446,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Stevens Capital Management LP bought a new position in Seagate Technology during the 4th quarter worth about $705,000. LPL Financial LLC boosted its position in shares of Seagate Technology by 6.9% during the fourth quarter. LPL Financial LLC now owns 169,918 shares of the data storage provider’s stock worth $14,666,000 after buying an additional 10,894 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Seagate Technology during the fourth quarter worth about $1,019,000. KLP Kapitalforvaltning AS acquired a new stake in Seagate Technology in the 4th quarter valued at approximately $5,717,000. Finally, American Century Companies Inc. lifted its stake in Seagate Technology by 0.9% in the 4th quarter. American Century Companies Inc. now owns 29,099 shares of the data storage provider’s stock valued at $2,512,000 after acquiring an additional 246 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Trading Down 0.4 %

Shares of STX opened at $87.63 on Thursday. Seagate Technology Holdings plc has a 12 month low of $82.31 and a 12 month high of $115.32. The firm’s 50 day moving average is $96.12 and its 200-day moving average is $98.53. The stock has a market capitalization of $18.55 billion, a PE ratio of 16.02 and a beta of 1.01.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 3.29%. Seagate Technology’s dividend payout ratio is presently 52.65%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on STX. Mizuho decreased their price target on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Benchmark raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Wednesday, January 22nd. Northland Securities reissued an “outperform” rating and set a $160.00 price target (up from $144.00) on shares of Seagate Technology in a research report on Wednesday, January 22nd. 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. Finally, UBS Group lifted their target price on Seagate Technology from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. One equities 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 stock. According to data from MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and an average price target of $121.00.

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.