Bryce Point Capital LLC Takes Position in Seagate Technology Holdings plc (NASDAQ:STX)

Bryce Point Capital LLC bought a new position in Seagate Technology Holdings plc (NASDAQ:STX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 21,224 shares of the data storage provider’s stock, valued at approximately $1,832,000. Seagate Technology accounts for approximately 0.5% of Bryce Point Capital LLC’s holdings, making the stock its 20th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STX. Vanguard Group Inc. raised its holdings in shares of Seagate Technology by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider’s stock worth $2,414,446,000 after purchasing an additional 1,814,821 shares during the period. State Street Corp raised its holdings in 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 buying an additional 541,585 shares during the period. Geode Capital Management LLC lifted its position in Seagate Technology by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 4,295,225 shares of the data storage provider’s stock valued at $370,013,000 after buying an additional 132,713 shares in the last quarter. Franklin Resources Inc. grew its stake in Seagate Technology by 5.7% during the fourth quarter. Franklin Resources Inc. now owns 1,879,855 shares of the data storage provider’s stock worth $162,250,000 after buying an additional 101,044 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position 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 acquiring an additional 34,979 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Trading Down 0.5 %

Shares of STX opened at $84.54 on Wednesday. The firm has a market cap of $17.90 billion, a price-to-earnings ratio of 15.46 and a beta of 1.01. Seagate Technology Holdings plc has a 52 week low of $82.31 and a 52 week high of $115.32. The stock has a 50 day moving average of $95.12 and a 200-day moving average of $98.05.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders 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 annualized dividend and a yield of 3.41%. Seagate Technology’s payout ratio is 52.65%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on STX. StockNews.com lowered shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Seagate Technology in a research report on Wednesday, January 22nd. The Goldman Sachs Group dropped their target price on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Bank of America reduced their price target on Seagate Technology from $130.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Finally, Rosenblatt Securities increased their price objective on shares of Seagate Technology from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $121.00.

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.