Brown Brothers Harriman & Co. Sells 2,144 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Brown Brothers Harriman & Co. lowered its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 69.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 926 shares of the data storage provider’s stock after selling 2,144 shares during the period. Brown Brothers Harriman & Co.’s holdings in Seagate Technology were worth $80,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in STX. DnB Asset Management AS lifted its stake in Seagate Technology by 15.3% in the fourth quarter. DnB Asset Management AS now owns 37,452 shares of the data storage provider’s stock valued at $3,232,000 after acquiring an additional 4,981 shares during the last quarter. Alerus Financial NA raised its holdings in shares of Seagate Technology by 2.4% in the 4th quarter. Alerus Financial NA now owns 57,174 shares of the data storage provider’s stock valued at $4,935,000 after purchasing an additional 1,321 shares during the period. Level Four Advisory Services LLC lifted its stake in Seagate Technology by 4.1% in the 4th quarter. Level Four Advisory Services LLC now owns 3,343 shares of the data storage provider’s stock valued at $289,000 after purchasing an additional 131 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in Seagate Technology by 13.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 119,528 shares of the data storage provider’s stock worth $10,316,000 after purchasing an additional 14,100 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its position in Seagate Technology by 0.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 92,015 shares of the data storage provider’s stock worth $7,942,000 after buying an additional 547 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Northland Securities reiterated an “outperform” rating and set a $160.00 target price (up from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. Mizuho decreased their price objective on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Wedbush restated an “outperform” rating and set a $150.00 target price on shares of Seagate Technology in a research note on Wednesday, January 22nd. Wells Fargo & Company reduced their target price on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Finally, Rosenblatt Securities raised their price objective on shares of Seagate Technology from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average target price of $121.00.

Seagate Technology Stock Down 0.5 %

Shares of Seagate Technology stock opened at $84.54 on Wednesday. The firm’s 50-day moving average price is $95.12 and its two-hundred day moving average price is $98.05. The company has a market capitalization of $17.90 billion, a price-to-earnings ratio of 15.46 and a beta of 1.01. Seagate Technology Holdings plc has a 12-month low of $82.31 and a 12-month high of $115.32.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 3.41%. 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.