Headlands Technologies LLC Invests $1.67 Million in Seagate Technology Holdings plc (NASDAQ:STX)

Headlands Technologies LLC acquired a new stake in Seagate Technology Holdings plc (NASDAQ:STX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,286 shares of the data storage provider’s stock, valued at approximately $1,665,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Seagate Technology by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider’s stock valued at $2,414,446,000 after purchasing an additional 1,814,821 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Seagate Technology during the 3rd quarter worth about $133,031,000. State Street Corp raised 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 valued at $937,081,000 after buying an additional 541,585 shares during the period. National Pension Service acquired a new position in Seagate Technology in the fourth quarter valued at about $43,436,000. Finally, Los Angeles Capital Management LLC boosted its stake in Seagate Technology by 176.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 741,592 shares of the data storage provider’s stock worth $64,007,000 after buying an additional 473,484 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on STX shares. Citigroup reduced their price target on shares of Seagate Technology from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Benchmark raised Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Wednesday, January 22nd. The Goldman Sachs Group lowered their price target on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Wedbush reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, January 22nd. Finally, Northland Securities reissued an “outperform” rating and set a $160.00 target price (up previously from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.00.

Seagate Technology Price Performance

Seagate Technology stock opened at $84.54 on Wednesday. The stock has a market cap of $17.90 billion, a PE ratio of 15.46 and a beta of 1.01. The stock’s fifty day moving average is $95.12 and its two-hundred day moving average is $98.05. Seagate Technology Holdings plc has a 1-year low of $82.31 and a 1-year high of $115.32.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.41%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s payout ratio is 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.