Sciencast Management LP Trims Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Sciencast Management LP trimmed its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 63.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,024 shares of the data storage provider’s stock after selling 8,837 shares during the period. Sciencast Management LP’s holdings in Seagate Technology were worth $434,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of STX. GSA Capital Partners LLP purchased a new stake in shares of Seagate Technology in the 3rd quarter worth $259,000. Empowered Funds LLC increased its stake in Seagate Technology by 6.8% in the 3rd quarter. Empowered Funds LLC now owns 3,274 shares of the data storage provider’s stock worth $359,000 after buying an additional 209 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in Seagate Technology by 5.0% in the 3rd quarter. Mutual of America Capital Management LLC now owns 25,853 shares of the data storage provider’s stock worth $2,832,000 after buying an additional 1,227 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Seagate Technology by 3.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 10,877 shares of the data storage provider’s stock worth $1,191,000 after buying an additional 402 shares in the last quarter. Finally, Commerce Bank increased its stake in Seagate Technology by 6.4% in the 3rd quarter. Commerce Bank now owns 4,070 shares of the data storage provider’s stock worth $446,000 after buying an additional 245 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $88.27 on Friday. The company has a market cap of $18.69 billion, a P/E ratio of 16.14 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. The firm has a 50-day simple moving average of $96.32 and a two-hundred day simple moving average of $98.78.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.26%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s payout ratio is currently 52.65%.

Analyst Ratings Changes

A number of brokerages have issued reports on STX. Cantor Fitzgerald reiterated a “neutral” rating and issued a $120.00 price target on shares of Seagate Technology in a research note on Wednesday, January 22nd. Citigroup cut their price target on Seagate Technology from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Mizuho cut their price target on Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Susquehanna increased their price objective on shares of Seagate Technology from $65.00 to $68.00 and gave the company a “negative” rating in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group dropped 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. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.