By otakuyassine3@gmail.com 
Empowered Funds LLC boosted its stake in Seagate Technology Holdings plc (NASDAQ:STX – Free Report) by 460.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,361 shares of the data storage provider’s stock after purchasing an additional 15,087 shares during the quarter. Empowered Funds LLC’s holdings in Seagate Technology were worth $1,585,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Point72 Asset Management L.P. bought a new position 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 grew its stake in shares of Seagate Technology by 341.7% in the 3rd 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 worth $143,370,000 after buying an additional 1,012,638 shares in the last quarter. State Street Corp grew 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 worth $937,081,000 after buying an additional 541,585 shares in the last quarter. Franklin Resources Inc. raised its position 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 valued at $197,844,000 after buying an additional 405,232 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Seagate Technology by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock valued at $454,477,000 after acquiring an additional 318,416 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.
Insider Activity
In related news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the transaction, the director now directly owns 6,555 shares of the company’s stock, valued at $667,430.10. This represents a 10.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $102.83, for a total value of $2,056,600.00. Following the completion of the sale, the chief executive officer now directly owns 622,497 shares of the company’s stock, valued at approximately $64,011,366.51. This represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,891 shares of company stock worth $2,146,848. Corporate insiders own 0.81% of the company’s stock.
Seagate Technology Trading Down 0.0 %
Shares of NASDAQ:STX opened at $101.47 on Friday. The company has a market capitalization of $21.48 billion, a PE ratio of 18.55 and a beta of 1.07. Seagate Technology Holdings plc has a 12-month low of $82.31 and a 12-month high of $115.32. The business’s fifty day simple moving average is $94.57 and its 200-day simple moving average is $99.64.
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 given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s payout ratio is 52.65%.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on STX shares. Wedbush restated an “outperform” rating and set a $150.00 price objective on shares of Seagate Technology in a research report on Wednesday, January 22nd. Benchmark upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Wednesday, January 22nd. Rosenblatt Securities boosted their price objective on shares of Seagate Technology from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Mizuho lowered their target price on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $120.00 price target on shares of Seagate Technology in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Seagate Technology currently has an average rating of “Moderate Buy” and a consensus price target of $122.56.
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.
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