Primecap Management Co. CA Raises Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Primecap Management Co. CA lifted its position in Seagate Technology Holdings plc (NASDAQ:STX) by 26.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 762,155 shares of the data storage provider’s stock after buying an additional 160,735 shares during the quarter. Primecap Management Co. CA’s holdings in Seagate Technology were worth $65,782,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. grew its position in Seagate Technology by 133.8% during the 3rd quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock worth $18,834,000 after purchasing an additional 98,418 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Seagate Technology by 9.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,834 shares of the data storage provider’s stock worth $4,215,000 after purchasing an additional 4,229 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Seagate Technology by 341.7% during 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 purchasing an additional 1,012,638 shares during the last quarter. Kingswood Wealth Advisors LLC grew its position in Seagate Technology by 87.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,578 shares of the data storage provider’s stock worth $740,000 after purchasing an additional 4,014 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in Seagate Technology by 9.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 84,222 shares of the data storage provider’s stock valued at $7,360,000 after acquiring an additional 7,599 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

NASDAQ:STX opened at $88.64 on Wednesday. The company has a fifty day moving average of $96.33 and a two-hundred day moving average of $98.99. The stock has a market capitalization of $18.77 billion, a PE ratio of 16.20 and a beta of 1.01. Seagate Technology Holdings plc has a fifty-two week low of $82.31 and a fifty-two week 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 given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s dividend payout ratio is presently 52.65%.

Analyst Ratings Changes

STX has been the subject of several research reports. Summit Insights upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Morgan Stanley decreased their price objective on shares of Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. Mizuho decreased their price objective on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Wedbush restated an “outperform” rating and set a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, January 22nd. Finally, Susquehanna lifted their price objective on shares of Seagate Technology from $65.00 to $68.00 and gave the company a “negative” rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $121.00.

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.