JPMorgan Chase & Co. Decreases Position in Seagate Technology Holdings plc (NASDAQ:STX)

JPMorgan Chase & Co. trimmed its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 26.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,759,601 shares of the data storage provider’s stock after selling 5,892,398 shares during the period. JPMorgan Chase & Co. owned about 7.92% of Seagate Technology worth $1,446,521,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Seagate Technology by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider’s stock worth $2,414,446,000 after buying an additional 1,814,821 shares during the period. State Street Corp increased its position in shares of Seagate Technology by 6.8% in 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 period. Geode Capital Management LLC raised its stake in shares of Seagate Technology by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock valued at $454,477,000 after acquiring an additional 318,416 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Seagate Technology by 29.5% during the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock worth $197,844,000 after purchasing an additional 405,232 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Seagate Technology by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,362,899 shares of the data storage provider’s stock worth $117,632,000 after purchasing an additional 34,979 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on STX. Mizuho lowered their price target on Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. StockNews.com lowered Seagate Technology from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Summit Insights raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Susquehanna raised their target price on shares of Seagate Technology from $65.00 to $68.00 and gave the stock a “negative” rating in a research report on Wednesday, January 22nd. Finally, Barclays increased their price target on shares of Seagate Technology from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $121.00.

Seagate Technology Price Performance

STX opened at $87.50 on Friday. Seagate Technology Holdings plc has a 1 year low of $82.31 and a 1 year high of $115.32. The stock has a 50-day moving average price of $95.96 and a 200-day moving average price of $98.46. The firm has a market cap of $18.52 billion, a PE ratio of 16.00 and a beta of 1.01.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 annualized dividend and a dividend yield of 3.29%. Seagate Technology’s dividend payout ratio is presently 52.65%.

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.