KLP Kapitalforvaltning AS Buys Shares of 65,695 Seagate Technology Holdings plc (NASDAQ:STX)

KLP Kapitalforvaltning AS purchased a new position in Seagate Technology Holdings plc (NASDAQ:STX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 65,695 shares of the data storage provider’s stock, valued at approximately $5,717,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STX. Sanders Capital LLC grew its stake in Seagate Technology by 0.9% in the third quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider’s stock valued at $1,792,742,000 after purchasing an additional 150,115 shares during the last quarter. State Street Corp grew its position in shares of 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 during the last quarter. Geode Capital Management LLC raised its stake in shares of Seagate Technology by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock worth $454,477,000 after acquiring an additional 318,416 shares in the last quarter. Franklin Resources Inc. lifted its position in Seagate Technology by 29.5% during the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock valued at $197,844,000 after acquiring an additional 405,232 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Seagate Technology by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,362,899 shares of the data storage provider’s stock valued at $117,632,000 after acquiring an additional 34,979 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Rosenblatt Securities increased their price objective on Seagate Technology from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Morgan Stanley decreased their price target on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. Benchmark upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Wednesday, January 22nd. Bank of America decreased their price objective on shares of Seagate Technology from $130.00 to $112.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Finally, Summit Insights raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.00.

Seagate Technology Stock Down 0.9 %

Seagate Technology stock opened at $87.96 on Wednesday. Seagate Technology Holdings plc has a 52 week low of $82.31 and a 52 week high of $115.32. The firm has a market cap of $18.62 billion, a price-to-earnings ratio of 16.08 and a beta of 1.01. The business’s 50-day moving average price is $96.25 and its 200 day moving average price is $98.61.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 3.27%. 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.