Seagate Technology Holdings plc (NASDAQ:STX) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. grew its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 7.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 490,607 shares of the data storage provider’s stock after purchasing an additional 35,365 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Seagate Technology were worth $41,883,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of STX. Romano Brothers AND Company lifted its holdings in Seagate Technology by 2.4% in the fourth quarter. Romano Brothers AND Company now owns 23,638 shares of the data storage provider’s stock valued at $2,018,000 after acquiring an additional 550 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Seagate Technology in the 4th quarter valued at $1,007,000. Graypoint LLC purchased a new stake in Seagate Technology during the fourth quarter worth $221,000. Lodestar Private Asset Management LLC acquired a new stake in Seagate Technology during the fourth quarter valued at $213,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in Seagate Technology in the fourth quarter valued at $240,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Trading Down 1.2 %

NASDAQ STX opened at $82.46 on Friday. The business’s fifty day simple moving average is $89.52 and its 200-day simple moving average is $81.99. Seagate Technology Holdings plc has a 52 week low of $54.32 and a 52 week high of $101.26.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Wednesday, January 24th. The data storage provider reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.19. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.56 billion. As a group, sell-side analysts forecast that Seagate Technology Holdings plc will post 0.05 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Thursday, March 21st were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Wednesday, March 20th. Seagate Technology’s dividend payout ratio is presently -80.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Mizuho restated a “buy” rating and set a $100.00 target price on shares of Seagate Technology in a research report on Tuesday, April 9th. Robert W. Baird boosted their price target on shares of Seagate Technology from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Cantor Fitzgerald restated a “neutral” rating and set a $95.00 price objective on shares of Seagate Technology in a research report on Monday, March 4th. The Goldman Sachs Group boosted their target price on shares of Seagate Technology from $65.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Finally, Rosenblatt Securities upped their price target on shares of Seagate Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $86.67.

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.