Victory Capital Management Inc. Raises Position in Seagate Technology Holdings plc (NASDAQ:STX)

Victory Capital Management Inc. grew its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 13.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 195,880 shares of the data storage provider’s stock after buying an additional 23,928 shares during the quarter. Victory Capital Management Inc. owned 0.09% of Seagate Technology worth $16,906,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in STX. Point72 Asset Management L.P. purchased a new stake in Seagate Technology during the 3rd quarter valued at $133,031,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Seagate Technology by 341.7% during the third 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 valued at $143,370,000 after buying an additional 1,012,638 shares during the last quarter. State Street Corp increased its holdings in Seagate Technology by 6.8% in the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock worth $937,081,000 after buying an additional 541,585 shares in the last quarter. National Pension Service purchased a new position in Seagate Technology in the 4th quarter worth about $43,436,000. Finally, Los Angeles Capital Management LLC lifted its stake 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 valued at $64,007,000 after acquiring an additional 473,484 shares during the period. Institutional investors own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. The Goldman Sachs Group cut their target price on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. StockNews.com cut Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Rosenblatt Securities lifted their price objective on Seagate Technology from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Barclays increased their target price on Seagate Technology from $95.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and an average target price of $122.56.

Seagate Technology Stock Performance

STX opened at $86.73 on Thursday. The stock has a market cap of $18.36 billion, a price-to-earnings ratio of 15.86 and a beta of 1.01. The firm’s fifty day moving average is $96.36 and its 200 day moving average is $99.34. Seagate Technology Holdings plc has a fifty-two week low of $82.31 and a fifty-two week high of $115.32.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s dividend payout ratio (DPR) is 52.65%.

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.