Massachusetts Financial Services Co. MA Acquires 470,592 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Massachusetts Financial Services Co. MA raised its position in Seagate Technology Holdings plc (NASDAQ:STXFree Report) by 24.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,410,163 shares of the data storage provider’s stock after purchasing an additional 470,592 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.15% of Seagate Technology worth $158,950,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STX. BlackRock Inc. increased its position in shares of Seagate Technology by 20.5% during the first quarter. BlackRock Inc. now owns 15,620,098 shares of the data storage provider’s stock worth $1,032,801,000 after acquiring an additional 2,662,098 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Seagate Technology by 5.8% during the first quarter. JPMorgan Chase & Co. now owns 15,279,089 shares of the data storage provider’s stock valued at $1,010,254,000 after purchasing an additional 837,041 shares in the last quarter. State Street Corp boosted its stake in shares of Seagate Technology by 9.6% during the first quarter. State Street Corp now owns 9,360,341 shares of the data storage provider’s stock valued at $625,307,000 after purchasing an additional 819,501 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Seagate Technology by 3.4% during the second quarter. Geode Capital Management LLC now owns 3,519,253 shares of the data storage provider’s stock valued at $217,197,000 after purchasing an additional 115,701 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Seagate Technology by 4.4% during the first quarter. Invesco Ltd. now owns 1,843,144 shares of the data storage provider’s stock valued at $165,698,000 after purchasing an additional 78,298 shares in the last quarter. 85.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Seagate Technology

In related news, EVP Ban Seng Teh sold 10,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $85.00, for a total transaction of $850,000.00. Following the completion of the transaction, the executive vice president now directly owns 24,289 shares in the company, valued at $2,064,565. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Seagate Technology news, CFO Gianluca Romano sold 475 shares of the company’s stock in a transaction dated Saturday, December 9th. The shares were sold at an average price of $80.59, for a total value of $38,280.25. Following the completion of the transaction, the chief financial officer now owns 63,874 shares in the company, valued at $5,147,605.66. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 10,000 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $85.00, for a total transaction of $850,000.00. Following the completion of the transaction, the executive vice president now owns 24,289 shares of the company’s stock, valued at approximately $2,064,565. The disclosure for this sale can be found here. Insiders sold 81,994 shares of company stock worth $6,547,701 over the last three months. Company insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

STX has been the topic of a number of recent research reports. TD Cowen increased their price objective on shares of Seagate Technology from $85.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. StockNews.com upgraded shares of Seagate Technology from a “sell” rating to a “hold” rating in a research note on Monday, December 4th. Cantor Fitzgerald started coverage on shares of Seagate Technology in a research note on Tuesday, January 23rd. They issued a “neutral” rating and a $90.00 target price for the company. Robert W. Baird raised their target price on shares of Seagate Technology from $70.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Morgan Stanley raised their target price on shares of Seagate Technology from $60.00 to $67.00 and gave the company an “equal weight” rating in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Seagate Technology has a consensus rating of “Hold” and a consensus price target of $79.00.

Get Our Latest Report on Seagate Technology

Seagate Technology Price Performance

NASDAQ STX opened at $86.20 on Wednesday. The company has a market capitalization of $18.06 billion, a PE ratio of -24.63 and a beta of 1.04. The company has a fifty day moving average of $83.82 and a 200 day moving average of $73.48. Seagate Technology Holdings plc has a 1 year low of $54.32 and a 1 year high of $92.04.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Thursday, March 21st will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, March 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.25%. Seagate Technology’s dividend payout ratio is presently -80.00%.

Seagate Technology Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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