Headlands Technologies LLC Makes New Investment in Seagate Technology Holdings plc (NASDAQ:STX)

Headlands Technologies LLC purchased a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,286 shares of the data storage provider’s stock, valued at approximately $1,665,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Seagate Technology by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider’s stock worth $2,414,446,000 after buying an additional 1,814,821 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Seagate Technology in the 3rd quarter worth $133,031,000. State Street Corp lifted its stake in shares of Seagate Technology by 6.8% during the 3rd 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 during the last quarter. National Pension Service bought a new stake in Seagate Technology during the fourth quarter valued at about $43,436,000. Finally, Los Angeles Capital Management LLC grew its stake in Seagate Technology by 176.6% in the fourth quarter. Los Angeles Capital Management LLC now owns 741,592 shares of the data storage provider’s stock valued at $64,007,000 after purchasing an additional 473,484 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Mizuho decreased 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. Wells Fargo & Company decreased their price objective on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. The Goldman Sachs Group lowered their target price on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Cantor Fitzgerald restated a “neutral” rating and set a $120.00 price target on shares of Seagate Technology in a research note on Wednesday, January 22nd. Finally, Citigroup lowered their price objective on shares of Seagate Technology from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. One investment 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $121.00.

Seagate Technology Trading Down 0.5 %

STX stock opened at $84.54 on Wednesday. The company has a market cap of $17.90 billion, a price-to-earnings ratio of 15.46 and a beta of 1.01. The firm has a 50-day moving average of $95.12 and a two-hundred day moving average of $98.05. Seagate Technology Holdings plc has a 12 month low of $82.31 and a 12 month high of $115.32.

Seagate Technology Announces Dividend

The business 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 dividend of $0.72 per share. 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 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.