Fisher Funds Management LTD Acquires New Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Fisher Funds Management LTD bought a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 30,331 shares of the data storage provider’s stock, valued at approximately $2,610,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STX. Foundations Investment Advisors LLC lifted its stake in shares of Seagate Technology by 10.2% in the third quarter. Foundations Investment Advisors LLC now owns 2,299 shares of the data storage provider’s stock worth $252,000 after acquiring an additional 213 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of Seagate Technology by 3.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock worth $281,000 after purchasing an additional 89 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Seagate Technology by 3,549.7% in the 3rd quarter. International Assets Investment Management LLC now owns 204,493 shares of the data storage provider’s stock valued at $22,398,000 after purchasing an additional 198,890 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Seagate Technology by 5.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,780 shares of the data storage provider’s stock valued at $962,000 after purchasing an additional 417 shares during the last quarter. Finally, Ballentine Partners LLC increased its position in shares of Seagate Technology by 3.6% during the third quarter. Ballentine Partners LLC now owns 3,671 shares of the data storage provider’s stock worth $402,000 after buying an additional 129 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $102.83, for a total transaction of $2,056,600.00. Following the transaction, the chief executive officer now directly owns 622,497 shares of the company’s stock, valued at $64,011,366.51. This trade represents a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the sale, the director now directly owns 6,555 shares of the company’s stock, valued at $667,430.10. The trade was a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,891 shares of company stock valued at $2,146,848. Corporate insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on STX. Wells Fargo & Company dropped their target price on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Benchmark raised Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Wednesday, January 22nd. Summit Insights raised Seagate Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Rosenblatt Securities boosted their price target on Seagate Technology from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $150.00 price objective on shares of Seagate Technology in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $122.56.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $100.85 on Monday. The company has a 50-day moving average price of $95.02 and a 200-day moving average price of $99.89. The stock has a market capitalization of $21.35 billion, a P/E ratio of 18.44 and a beta of 1.07. Seagate Technology Holdings plc has a 1 year low of $82.31 and a 1 year high of $115.32.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s dividend payout ratio is currently 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.