Sumitomo Mitsui Trust Holdings Inc. Grows Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 7.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 490,607 shares of the data storage provider’s stock after acquiring an additional 35,365 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.23% of Seagate Technology worth $41,883,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Seagate Technology during the 4th quarter worth $26,000. CVA Family Office LLC purchased a new position in Seagate Technology during the fourth quarter valued at $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in Seagate Technology during the fourth quarter valued at $28,000. Parkside Financial Bank & Trust grew its holdings in Seagate Technology by 85.4% during the third quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 205 shares during the period. Finally, State of Wyoming bought a new position in shares of Seagate Technology in the fourth quarter worth about $36,000. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Trading Down 1.2 %

STX opened at $82.46 on Friday. Seagate Technology Holdings plc has a 12 month low of $54.32 and a 12 month high of $101.26. The stock has a 50-day moving average of $89.52 and a 200 day moving average of $81.99.

Seagate Technology (NASDAQ:STX) last announced 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 company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.56 billion. On average, analysts expect that Seagate Technology Holdings plc will post 0.05 earnings per share for the current year.

Seagate Technology Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on STX. Cantor Fitzgerald reiterated a “neutral” rating and set a $95.00 price objective on shares of Seagate Technology in a research note on Monday, March 4th. Wells Fargo & Company raised their price objective on shares of Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, February 1st. TD Cowen upped their target price on shares of Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Barclays raised their price target on Seagate Technology from $65.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Finally, BNP Paribas lowered Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price objective for the company. in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $86.67.

Seagate Technology Company 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.