Trexquant Investment LP Raises Position in Seagate Technology Holdings plc (NASDAQ:STX)

Trexquant Investment LP raised its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 102.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 189,993 shares of the data storage provider’s stock after buying an additional 95,969 shares during the quarter. Trexquant Investment LP owned about 0.09% of Seagate Technology worth $16,398,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Seagate Technology by 9.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,834 shares of the data storage provider’s stock valued at $4,215,000 after purchasing an additional 4,229 shares in the last quarter. Kingswood Wealth Advisors LLC raised its position in shares of Seagate Technology by 87.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,578 shares of the data storage provider’s stock valued at $740,000 after buying an additional 4,014 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Seagate Technology by 9.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 84,222 shares of the data storage provider’s stock worth $7,360,000 after acquiring an additional 7,599 shares during the last quarter. Rheos Capital Works Inc. grew its position in Seagate Technology by 2.5% in the fourth quarter. Rheos Capital Works Inc. now owns 331,500 shares of the data storage provider’s stock worth $28,612,000 after acquiring an additional 8,000 shares in the last quarter. Finally, TCW Group Inc. increased its stake in Seagate Technology by 62.4% in the third quarter. TCW Group Inc. now owns 359,042 shares of the data storage provider’s stock valued at $39,326,000 after acquiring an additional 138,001 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

NASDAQ:STX opened at $84.54 on Wednesday. The firm’s 50-day moving average price is $95.12 and its 200-day moving average price is $98.05. The company has a market capitalization of $17.90 billion, a PE ratio of 15.46 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 Dividend Announcement

The firm 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. This represents a $2.88 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s dividend payout ratio (DPR) is presently 52.65%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Rosenblatt Securities upped their price objective on Seagate Technology from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Northland Securities reiterated 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. The Goldman Sachs Group lowered their price objective on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $120.00 target price on shares of Seagate Technology in a report on Wednesday, January 22nd. Finally, Wedbush restated an “outperform” rating and set a $150.00 price target on shares of Seagate Technology in a research 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 issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.