Geode Capital Management LLC Grows Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Geode Capital Management LLC boosted its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,295,225 shares of the data storage provider’s stock after buying an additional 132,713 shares during the quarter. Geode Capital Management LLC owned approximately 2.03% of Seagate Technology worth $370,013,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of 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 buying an additional 4,229 shares during the last quarter. Kingswood Wealth Advisors LLC raised its holdings in Seagate Technology by 87.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,578 shares of the data storage provider’s stock valued at $740,000 after acquiring an additional 4,014 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in Seagate Technology by 9.9% in 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 purchasing an additional 7,599 shares in the last quarter. Rheos Capital Works Inc. boosted its holdings in shares of Seagate Technology by 2.5% during the 4th quarter. Rheos Capital Works Inc. now owns 331,500 shares of the data storage provider’s stock worth $28,612,000 after purchasing an additional 8,000 shares during the last quarter. Finally, TCW Group Inc. grew its position in shares of 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 purchasing an additional 138,001 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Price Performance

NASDAQ STX opened at $66.73 on Friday. The company has a market cap of $14.13 billion, a P/E ratio of 12.20 and a beta of 1.01. The stock has a 50-day moving average of $93.10 and a two-hundred day moving average of $97.54. Seagate Technology Holdings plc has a 1-year low of $63.95 and a 1-year high of $115.32.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend was Wednesday, March 19th. Seagate Technology’s payout ratio is currently 52.65%.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the completion of the transaction, the chief executive officer now directly owns 555,677 shares of the company’s stock, valued at approximately $46,988,047.12. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.81% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on STX shares. StockNews.com downgraded Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Summit Insights raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Benchmark upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Wednesday, January 22nd. Morgan Stanley decreased their target price on shares of Seagate Technology from $133.00 to $129.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. Finally, UBS Group raised 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 equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.00.

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.