Quantbot Technologies LP Boosts Position in Seagate Technology Holdings plc (NASDAQ:STX)

Quantbot Technologies LP boosted its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 174.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 95,292 shares of the data storage provider’s stock after buying an additional 60,603 shares during the quarter. Quantbot Technologies LP’s holdings in Seagate Technology were worth $8,225,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Mindset Wealth Management LLC increased its position in shares of Seagate Technology by 6.0% during the 4th quarter. Mindset Wealth Management LLC now owns 7,342 shares of the data storage provider’s stock worth $634,000 after purchasing an additional 418 shares during the last quarter. 1620 Investment Advisors Inc. increased its position in shares of Seagate Technology by 2.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 4,835 shares of the data storage provider’s stock valued at $417,000 after acquiring an additional 123 shares during the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of Seagate Technology in the 4th quarter valued at approximately $831,000. Talos Asset Management LP acquired a new position in shares of Seagate Technology in the 4th quarter worth approximately $17,219,000. Finally, Royal London Asset Management Ltd. boosted its position in shares of Seagate Technology by 2.5% during the 4th quarter. Royal London Asset Management Ltd. now owns 82,722 shares of the data storage provider’s stock worth $7,140,000 after purchasing an additional 2,024 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Susquehanna boosted their target price on Seagate Technology from $65.00 to $68.00 and gave the company a “negative” rating in a research report on Wednesday, January 22nd. Bank of America decreased their target price on Seagate Technology from $130.00 to $112.00 and set a “buy” rating on the stock in a research note on Thursday. Cantor Fitzgerald reiterated a “neutral” rating and set a $120.00 price target on shares of Seagate Technology in a research note on Wednesday, January 22nd. The Goldman Sachs Group lowered their price objective on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, Wells Fargo & Company cut their price objective on Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.56.

Seagate Technology Price Performance

NASDAQ STX opened at $85.62 on Friday. The firm’s fifty day moving average price is $96.35 and its 200 day moving average price is $99.24. Seagate Technology Holdings plc has a 12 month low of $82.31 and a 12 month high of $115.32. The company has a market capitalization of $18.13 billion, a price-to-earnings ratio of 15.65 and a beta of 1.01.

Seagate Technology Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a yield of 3.36%. Seagate Technology’s dividend payout ratio is presently 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.