HighTower Advisors LLC Cuts Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

HighTower Advisors LLC cut its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 70.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,220 shares of the data storage provider’s stock after selling 200,390 shares during the quarter. HighTower Advisors LLC’s holdings in Seagate Technology were worth $7,355,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its position in Seagate Technology by 177.9% in 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 in the last quarter. JFS Wealth Advisors LLC lifted its position in Seagate Technology by 27.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock valued at $46,000 after acquiring an additional 113 shares in the last quarter. Human Investing LLC bought a new position in shares of Seagate Technology during the 4th quarter valued at $48,000. Harvest Fund Management Co. Ltd bought a new position in shares of Seagate Technology during the 3rd quarter valued at $53,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Seagate Technology during the 3rd quarter valued at $54,000. 92.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on STX shares. Bank of America lowered their price target on Seagate Technology from $130.00 to $112.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Northland Securities reissued an “outperform” rating and set a $160.00 price target (up from $144.00) on shares of Seagate Technology in a report on Wednesday, January 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $120.00 price target on shares of Seagate Technology in a report on Wednesday, January 22nd. Wells Fargo & Company lowered their price target on Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Finally, Benchmark raised Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $121.00.

Seagate Technology Stock Performance

Shares of STX stock opened at $88.64 on Wednesday. Seagate Technology Holdings plc has a 52-week low of $82.31 and a 52-week high of $115.32. The firm has a market capitalization of $18.77 billion, a PE ratio of 16.20 and a beta of 1.01. The stock has a fifty day simple moving average of $96.33 and a two-hundred day simple moving average of $98.99.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be paid a $0.72 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a yield of 3.25%. Seagate Technology’s payout ratio is presently 52.65%.

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.