Fox Run Management L.L.C. Makes New Investment in Seagate Technology Holdings plc (NASDAQ:STX)

Fox Run Management L.L.C. acquired a new position in Seagate Technology Holdings plc (NASDAQ:STX) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 11,807 shares of the data storage provider’s stock, valued at approximately $1,019,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Sanders Capital LLC raised its holdings in Seagate Technology by 0.9% in the third quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider’s stock worth $1,792,742,000 after purchasing an additional 150,115 shares in the last quarter. 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 worth $937,081,000 after purchasing an additional 541,585 shares in the last quarter. Geode Capital Management LLC raised its holdings in Seagate Technology by 8.3% in the third quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock worth $454,477,000 after purchasing an additional 318,416 shares in the last quarter. Franklin Resources Inc. raised its holdings in Seagate Technology by 29.5% in the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock worth $197,844,000 after purchasing an additional 405,232 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in 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 purchasing an additional 34,979 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on STX. UBS Group increased their price objective on Seagate Technology from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Morgan Stanley reduced their price target on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. Benchmark upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a report on Wednesday, January 22nd. Wells Fargo & Company reduced their price target on 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, Barclays raised their price target on Seagate Technology from $95.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $121.00.

Seagate Technology Price Performance

Seagate Technology stock opened at $88.27 on Friday. Seagate Technology Holdings plc has a one year low of $82.31 and a one year high of $115.32. The stock has a market capitalization of $18.69 billion, a PE ratio of 16.14 and a beta of 1.01. The business’s fifty day moving average is $96.32 and its 200 day moving average is $98.78.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be given a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 3.26%. Seagate Technology’s payout ratio is 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.