Shaker Investments LLC OH Acquires New Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Shaker Investments LLC OH purchased a new stake in Seagate Technology Holdings plc (NASDAQ:STX) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 21,788 shares of the data storage provider’s stock, valued at approximately $1,881,000.

Other hedge funds have also recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in shares of Seagate Technology during the third quarter worth $133,031,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Seagate Technology by 341.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider’s stock worth $143,370,000 after buying an additional 1,012,638 shares during the last quarter. State Street Corp lifted its position in shares of Seagate Technology by 6.8% during the third quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock worth $937,081,000 after purchasing an additional 541,585 shares in the last quarter. Franklin Resources Inc. lifted 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 worth $197,844,000 after acquiring an additional 405,232 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in 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 in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on STX. Benchmark upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a report on Wednesday, January 22nd. Summit Insights upgraded Seagate Technology from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Northland Securities restated an “outperform” rating and set a $160.00 price objective (up from $144.00) on shares of Seagate Technology in a report on Wednesday, January 22nd. Morgan Stanley dropped their price objective on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Finally, Bank of America raised their target price on shares of Seagate Technology from $124.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.56.

Insider Transactions at Seagate Technology

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the transaction, the director now directly owns 6,555 shares of the company’s stock, valued at $667,430.10. The trade was a 10.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $102.83, for a total value of $2,056,600.00. Following the completion of the transaction, the chief executive officer now directly owns 622,497 shares of the company’s stock, valued at approximately $64,011,366.51. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,891 shares of company stock valued at $2,146,848. Corporate insiders own 0.81% of the company’s stock.

Seagate Technology Stock Up 1.7 %

STX opened at $97.80 on Tuesday. The company has a 50-day simple moving average of $94.54 and a 200 day simple moving average of $99.72. The stock has a market capitalization of $20.71 billion, a price-to-earnings ratio of 17.88 and a beta of 1.07. Seagate Technology Holdings plc has a twelve month low of $82.31 and a twelve month high of $115.32.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a yield of 2.94%. Seagate Technology’s dividend payout ratio is currently 52.65%.

About Seagate Technology

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.