Trexquant Investment LP Boosts Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Trexquant Investment LP boosted its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 102.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 189,993 shares of the data storage provider’s stock after purchasing an additional 95,969 shares during the period. Trexquant Investment LP’s holdings in Seagate Technology were worth $16,398,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake 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 valued at $2,414,446,000 after acquiring an additional 1,814,821 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Seagate Technology during the third quarter valued at approximately $133,031,000. State Street Corp lifted its position in Seagate Technology by 6.8% during 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. National Pension Service purchased a new stake in Seagate Technology in the fourth quarter worth approximately $43,436,000. Finally, Los Angeles Capital Management LLC grew its position in Seagate Technology by 176.6% in 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. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on STX shares. StockNews.com cut Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Susquehanna boosted their price target on Seagate Technology from $65.00 to $68.00 and gave the company a “negative” rating in a research note on Wednesday, January 22nd. Citigroup lowered their price objective on shares of Seagate Technology from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Mizuho cut their target price on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Finally, Wedbush reiterated an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.00.

Seagate Technology Price Performance

Seagate Technology stock opened at $84.54 on Wednesday. The firm’s 50 day moving average price is $95.12 and its 200-day moving average price is $98.05. Seagate Technology Holdings plc has a 1 year low of $82.31 and a 1 year high of $115.32. The stock has a market cap of $17.90 billion, a P/E ratio of 15.46 and a beta of 1.01.

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 issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s dividend payout ratio (DPR) is presently 52.65%.

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.