Marshall Wace LLP Purchases New Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Marshall Wace LLP bought a new stake in Seagate Technology Holdings plc (NASDAQ:STX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 896,087 shares of the data storage provider’s stock, valued at approximately $77,341,000.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its position in Seagate Technology by 6.9% during the 4th 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 during the last quarter. National Pension Service acquired a new stake in Seagate Technology in the fourth quarter valued at about $43,436,000. Los Angeles Capital Management LLC increased its position in Seagate Technology by 176.6% during the 4th quarter. Los Angeles Capital Management LLC now owns 741,592 shares of the data storage provider’s stock worth $64,007,000 after purchasing an additional 473,484 shares during the period. 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 in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Seagate Technology by 14.6% in the fourth quarter. Invesco Ltd. now owns 2,761,534 shares of the data storage provider’s stock valued at $238,348,000 after buying an additional 352,300 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

STX has been the topic of a number of recent analyst reports. 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 note on Wednesday, January 22nd. Bank of America lowered their price target on Seagate Technology from $130.00 to $112.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Rosenblatt Securities boosted their target price on Seagate Technology from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. 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. Finally, Mizuho dropped their target price on shares of Seagate Technology from $115.00 to $95.00 and set an “outperform” rating for the company in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.78.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the completion of the sale, the chief executive officer now directly owns 555,677 shares in the company, valued at $46,988,047.12. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.81% of the stock is owned by company insiders.

Seagate Technology Price Performance

NASDAQ STX opened at $72.82 on Thursday. The company has a market cap of $15.42 billion, a P/E ratio of 13.31 and a beta of 1.21. Seagate Technology Holdings plc has a 12 month low of $63.19 and a 12 month high of $115.32. The company has a 50-day moving average of $87.78 and a 200-day moving average of $95.18.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date was Wednesday, March 19th. Seagate Technology’s dividend payout ratio 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.