Oppenheimer & Co. Inc. Trims Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Oppenheimer & Co. Inc. cut its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 23.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,055 shares of the data storage provider’s stock after selling 5,035 shares during the period. Oppenheimer & Co. Inc.’s holdings in Seagate Technology were worth $1,386,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new stake in shares of Seagate Technology during the third quarter valued at about $133,031,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 acquiring an additional 1,012,638 shares during the last quarter. State Street Corp increased its position in shares of Seagate Technology by 6.8% during the third quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock valued at $937,081,000 after acquiring an additional 541,585 shares during the last quarter. National Pension Service acquired a new stake in shares of Seagate Technology during the fourth quarter valued at about $43,436,000. Finally, Los Angeles Capital Management LLC increased its position in shares of 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 valued at $64,007,000 after acquiring an additional 473,484 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on STX. Wells Fargo & Company dropped 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 report on Thursday, January 16th. Morgan Stanley dropped their price target on shares of Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Northland Securities restated an “outperform” rating and issued a $160.00 price objective (up previously from $144.00) on shares of Seagate Technology in a report on Wednesday, January 22nd. Benchmark upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Wednesday, January 22nd. Finally, Summit Insights upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $122.56.

Seagate Technology Stock Down 1.8 %

NASDAQ STX opened at $100.06 on Tuesday. Seagate Technology Holdings plc has a 52 week low of $82.31 and a 52 week high of $115.32. The stock has a market capitalization of $21.18 billion, a PE ratio of 18.29 and a beta of 1.07. The firm has a 50 day moving average of $96.18 and a two-hundred day moving average of $100.04.

Seagate Technology Announces Dividend

The business 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 dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 annualized dividend and a dividend yield of 2.88%. Seagate Technology’s dividend payout ratio is presently 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.