Seagate Technology Holdings plc (NASDAQ:STX) Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 2.5% during the fourth quarter, HoldingsChannel reports. The fund owned 1,007,679 shares of the data storage provider’s stock after buying an additional 24,773 shares during the period. Allianz Asset Management GmbH’s holdings in Seagate Technology were worth $86,973,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its position in Seagate Technology by 133.8% in the third quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock valued at $18,834,000 after purchasing an additional 98,418 shares during the period. Versor Investments LP purchased a new stake in Seagate Technology in the 3rd quarter valued at about $2,146,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in 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. Forte Capital LLC ADV boosted its stake in Seagate Technology by 29.8% during the third quarter. Forte Capital LLC ADV now owns 28,972 shares of the data storage provider’s stock worth $3,173,000 after buying an additional 6,653 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Seagate Technology by 3,549.7% during the third quarter. International Assets Investment Management LLC now owns 204,493 shares of the data storage provider’s stock valued at $22,398,000 after acquiring an additional 198,890 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $102.83, for a total transaction of $2,056,600.00. Following the sale, the chief executive officer now directly owns 622,497 shares in the company, valued at $64,011,366.51. This trade represents a 3.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the transaction, the director now owns 6,555 shares of the company’s stock, valued at $667,430.10. This represents a 10.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,891 shares of company stock valued at $2,146,848. 0.81% of the stock is currently owned by corporate insiders.

Seagate Technology Trading Down 1.7 %

Shares of STX opened at $100.85 on Friday. The firm’s fifty day simple moving average is $95.02 and its 200-day simple moving average is $99.80. The firm has a market capitalization of $21.35 billion, a price-to-earnings ratio of 18.44 and a beta of 1.07. Seagate Technology Holdings plc has a twelve month low of $82.31 and a twelve month high of $115.32.

Seagate Technology Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s dividend payout ratio (DPR) is 52.65%.

Wall Street Analysts Forecast Growth

STX has been the topic of several recent analyst reports. Morgan Stanley decreased their price objective 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. Rosenblatt Securities lifted their price objective on Seagate Technology from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. UBS Group increased their target price on Seagate Technology from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Summit Insights upgraded Seagate Technology from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Finally, Barclays boosted 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 note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $122.56.

Seagate Technology Company 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.