Stevens Capital Management LP Purchases New Position in Seagate Technology Holdings plc (NASDAQ:STX)

Stevens Capital Management LP purchased a new stake in Seagate Technology Holdings plc (NASDAQ:STX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,173 shares of the data storage provider’s stock, valued at approximately $705,000.

Several other hedge funds have also bought and sold shares of the stock. Sanders Capital LLC increased its stake in shares of Seagate Technology by 0.9% in the 3rd quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider’s stock valued at $1,792,742,000 after purchasing an additional 150,115 shares in the last quarter. State Street Corp grew its holdings in Seagate Technology by 6.8% in the third 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 period. Geode Capital Management LLC increased its position in shares of 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 buying an additional 318,416 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Seagate Technology by 29.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock worth $197,844,000 after buying an additional 405,232 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Seagate Technology by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,362,899 shares of the data storage provider’s stock valued at $117,632,000 after buying an additional 34,979 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

STX has been the subject of several recent analyst reports. Susquehanna boosted their price target on shares of Seagate Technology from $65.00 to $68.00 and gave the stock a “negative” rating in a report on Wednesday, January 22nd. Barclays upped their price target on shares of Seagate Technology from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities lifted their price objective on Seagate Technology from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Wells Fargo & Company reduced their target price on Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $160.00 price target (up from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $121.00.

Seagate Technology Stock Down 0.1 %

NASDAQ:STX opened at $88.27 on Friday. The company has a market capitalization of $18.69 billion, a P/E ratio of 16.14 and a beta of 1.01. Seagate Technology Holdings plc has a 52 week low of $82.31 and a 52 week high of $115.32. The stock’s fifty day moving average is $96.32 and its two-hundred day moving average is $98.78.

Seagate Technology Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s dividend payout ratio (DPR) is presently 52.65%.

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.