Xponance Inc. Trims Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Xponance Inc. reduced its position in Seagate Technology Holdings plc (NASDAQ:STX) by 5.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,030 shares of the data storage provider’s stock after selling 1,199 shares during the quarter. Xponance Inc.’s holdings in Seagate Technology were worth $1,729,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Berkshire Bank grew its stake in Seagate Technology by 2.6% in the 4th quarter. Berkshire Bank now owns 4,118 shares of the data storage provider’s stock worth $355,000 after acquiring an additional 103 shares in the last quarter. MWA Asset Management grew its stake in Seagate Technology by 0.5% in the 4th quarter. MWA Asset Management now owns 19,636 shares of the data storage provider’s stock worth $1,695,000 after acquiring an additional 104 shares in the last quarter. JFS Wealth Advisors LLC boosted its stake in shares of Seagate Technology by 27.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock valued at $46,000 after purchasing an additional 113 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Seagate Technology by 2.3% during the fourth quarter. Signaturefd LLC now owns 4,988 shares of the data storage provider’s stock valued at $431,000 after purchasing an additional 113 shares in the last quarter. Finally, My Legacy Advisors LLC boosted its stake in shares of Seagate Technology by 3.9% during the fourth quarter. My Legacy Advisors LLC now owns 3,113 shares of the data storage provider’s stock valued at $294,000 after purchasing an additional 118 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on STX. The Goldman Sachs Group dropped their price objective on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company dropped their price objective on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Morgan Stanley dropped their price objective on shares of Seagate Technology from $133.00 to $129.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. 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 research note on Friday, January 10th. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $160.00 price target (up previously from $144.00) on shares of Seagate Technology in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and an average price target of $121.00.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $88.27 on Friday. The firm has a fifty day moving average price of $96.32 and a 200 day moving average price of $98.78. 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 $18.69 billion, a PE ratio of 16.14 and a beta of 1.01.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 3.26%. Seagate Technology’s dividend payout ratio is presently 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.