Arrowstreet Capital Limited Partnership Sells 1,928,821 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Arrowstreet Capital Limited Partnership lowered its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 61.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,223,811 shares of the data storage provider’s stock after selling 1,928,821 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.58% of Seagate Technology worth $105,627,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisors Asset Management Inc. increased its holdings in Seagate Technology by 177.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after buying an additional 258 shares during the period. JFS Wealth Advisors LLC increased 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 acquiring an additional 113 shares during the last quarter. Human Investing LLC acquired a new position in Seagate Technology during the fourth quarter valued at approximately $48,000. Wilmington Savings Fund Society FSB bought a new stake in Seagate Technology during the third quarter worth $54,000. Finally, S.A. Mason LLC acquired a new stake in shares of Seagate Technology in the 4th quarter valued at $55,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. StockNews.com downgraded Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Benchmark upgraded 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. Wells Fargo & Company decreased their price target on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. 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. Finally, UBS Group upped their price target on shares of Seagate Technology from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average price target of $121.00.

Seagate Technology Stock Down 2.9 %

Shares of NASDAQ STX opened at $84.92 on Monday. Seagate Technology Holdings plc has a twelve month low of $82.31 and a twelve month high of $115.32. The firm has a fifty day simple moving average of $95.71 and a 200 day simple moving average of $98.29. The company has a market capitalization of $17.98 billion, a PE ratio of 15.52 and a beta of 1.01.

Seagate Technology Announces Dividend

The firm 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 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s dividend payout ratio (DPR) is presently 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.