Los Angeles Capital Management LLC Acquires 473,484 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Los Angeles Capital Management LLC lifted its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 176.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 741,592 shares of the data storage provider’s stock after acquiring an additional 473,484 shares during the period. Los Angeles Capital Management LLC owned approximately 0.35% of Seagate Technology worth $64,007,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in shares of Seagate Technology in the 3rd quarter worth approximately $26,000. Advisors Asset Management Inc. raised its holdings in Seagate Technology by 177.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after acquiring an additional 258 shares during the period. JFS Wealth Advisors LLC increased its holdings in shares of Seagate Technology by 232.5% in the third quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after purchasing an additional 293 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Seagate Technology in the third quarter worth $53,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Seagate Technology in the third quarter worth $54,000. 92.87% of the stock is owned by institutional investors.

Insider Transactions at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the transaction, the director now owns 6,555 shares in the company, valued at approximately $667,430.10. The trade was a 10.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on 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 completion of the sale, the chief executive officer now owns 622,497 shares in the company, valued at approximately $64,011,366.51. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,891 shares of company stock worth $2,146,848 in the last 90 days. 0.81% of the stock is currently owned by insiders.

Seagate Technology Trading Down 0.8 %

Shares of STX stock opened at $100.08 on Tuesday. The firm’s 50 day moving average is $95.11 and its 200 day moving average is $99.93. The stock has a market capitalization of $21.19 billion, a P/E ratio of 18.30 and a beta of 1.07. 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s dividend payout ratio is presently 52.65%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on STX. The Goldman Sachs Group decreased their price target on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Wedbush reissued an “outperform” rating and issued a $150.00 target price on shares of Seagate Technology in a research note on Wednesday, January 22nd. StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Benchmark upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company cut their price target on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.56.

Seagate Technology 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.