QRG Capital Management Inc. Increases Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

QRG Capital Management Inc. boosted its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 4.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 10,742 shares of the data storage provider’s stock after buying an additional 412 shares during the quarter. QRG Capital Management Inc.’s holdings in Seagate Technology were worth $927,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of STX. Point72 Asset Management L.P. purchased a new stake in shares of Seagate Technology during the 3rd quarter valued at approximately $133,031,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Seagate Technology by 341.7% in the third 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 valued at $143,370,000 after purchasing an additional 1,012,638 shares during the period. State Street Corp lifted its stake in shares of Seagate Technology by 6.8% in the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock valued at $937,081,000 after purchasing an additional 541,585 shares during the last quarter. National Pension Service purchased a new position in shares of Seagate Technology during the 4th quarter worth $43,436,000. Finally, Los Angeles Capital Management LLC increased its position in shares of Seagate Technology by 176.6% during the 4th quarter. Los Angeles Capital Management LLC now owns 741,592 shares of the data storage provider’s stock worth $64,007,000 after purchasing an additional 473,484 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Seagate Technology in a research report on Wednesday, January 22nd. The Goldman Sachs Group decreased their price objective on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Barclays lifted their target price on shares of Seagate Technology from $95.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, January 22nd. Summit Insights upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $120.00 price target on shares of Seagate Technology in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.56.

Seagate Technology Stock Performance

Shares of STX opened at $100.06 on Tuesday. The stock has a 50-day simple moving average of $96.18 and a 200-day simple moving average of $100.04. Seagate Technology Holdings plc has a 1 year low of $82.31 and a 1 year high of $115.32. The stock has a market capitalization of $21.18 billion, a PE ratio of 18.29 and a beta of 1.07.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.88%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s dividend payout ratio (DPR) is presently 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.