Mitsubishi UFJ Trust & Banking Corp Increases Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Mitsubishi UFJ Trust & Banking Corp boosted its position in Seagate Technology Holdings plc (NASDAQ:STX) by 24.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 115,511 shares of the data storage provider’s stock after buying an additional 22,349 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Seagate Technology were worth $9,970,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Seagate Technology by 9.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,834 shares of the data storage provider’s stock valued at $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 lifted its stake in Seagate Technology by 341.7% in 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 valued at $143,370,000 after buying an additional 1,012,638 shares in the last quarter. Kingswood Wealth Advisors LLC grew its holdings 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 valued at $740,000 after buying an additional 4,014 shares during the last quarter. Asset Management One Co. Ltd. increased its position in Seagate Technology by 9.9% during the fourth quarter. Asset Management One Co. Ltd. now owns 84,222 shares of the data storage provider’s stock worth $7,360,000 after buying an additional 7,599 shares in the last quarter. Finally, Rheos Capital Works Inc. raised its holdings in shares of Seagate Technology by 2.5% in the fourth quarter. Rheos Capital Works Inc. now owns 331,500 shares of the data storage provider’s stock worth $28,612,000 after acquiring an additional 8,000 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Stock Performance

STX opened at $84.92 on Friday. Seagate Technology Holdings plc has a 1 year low of $82.31 and a 1 year high of $115.32. The firm has a 50 day moving average price of $95.71 and a 200 day moving average price of $98.31. The company has a market cap of $17.98 billion, a PE ratio of 15.52 and a beta of 1.01.

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 given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s payout ratio is currently 52.65%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on STX shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $120.00 price objective on shares of Seagate Technology in a research report on Wednesday, January 22nd. Mizuho lowered their price target on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Summit Insights raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Susquehanna lifted their target price on shares of Seagate Technology from $65.00 to $68.00 and gave the stock a “negative” rating in a research note on Wednesday, January 22nd. Finally, Morgan Stanley reduced their price target on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $121.00.

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.