DnB Asset Management AS Grows Stake in Seagate Technology Holdings plc (NASDAQ:STX)

DnB Asset Management AS increased its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 15.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,452 shares of the data storage provider’s stock after buying an additional 4,981 shares during the period. DnB Asset Management AS’s holdings in Seagate Technology were worth $3,232,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC grew its stake in Seagate Technology by 27.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock worth $46,000 after buying an additional 113 shares in the last quarter. Human Investing LLC purchased a new position in Seagate Technology in the fourth quarter worth $48,000. Wilmington Savings Fund Society FSB bought a new position in Seagate Technology in the third quarter valued at $54,000. S.A. Mason LLC purchased a new stake in Seagate Technology during the fourth quarter valued at about $55,000. Finally, Quarry LP lifted its stake in Seagate Technology by 108.4% during the third quarter. Quarry LP now owns 546 shares of the data storage provider’s stock worth $60,000 after purchasing an additional 284 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Trading Up 0.0 %

Shares of Seagate Technology stock opened at $84.95 on Tuesday. Seagate Technology Holdings plc has a 12-month low of $82.31 and a 12-month high of $115.32. The company has a market cap of $17.98 billion, a P/E ratio of 15.53 and a beta of 1.01. The company’s fifty day simple moving average is $95.45 and its two-hundred day simple moving average is $98.17.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s payout ratio is currently 52.65%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on STX. StockNews.com cut Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Morgan Stanley lowered their price objective on shares of Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. Wedbush reaffirmed an “outperform” rating and set a $150.00 target price on shares of Seagate Technology in a report on Wednesday, January 22nd. Northland Securities reiterated an “outperform” rating and issued a $160.00 target price (up previously from $144.00) on shares of Seagate Technology in a research report on Wednesday, January 22nd. Finally, The Goldman Sachs Group cut their price target on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.