Mitsubishi UFJ Asset Management Co. Ltd. Acquires 41,404 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 14.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 338,201 shares of the data storage provider’s stock after acquiring an additional 41,404 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Seagate Technology were worth $30,151,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in STX. Vanguard Group Inc. lifted its holdings in Seagate Technology by 6.9% during 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 in the last quarter. State Street Corp lifted its holdings in shares of 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 buying an additional 541,585 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 buying an additional 318,416 shares in the last quarter. Franklin Resources Inc. grew its stake in Seagate Technology by 29.5% during the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock valued at $197,844,000 after acquiring an additional 405,232 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Seagate Technology by 2.6% during the 4th 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 during the period. 92.87% of the stock is owned by institutional investors.

Seagate Technology Trading Down 2.9 %

Shares of NASDAQ:STX opened at $84.92 on Monday. The company has a market cap of $17.98 billion, a price-to-earnings ratio of 15.52 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. The company has a 50-day moving average price of $95.71 and a 200-day moving average price of $98.29.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.39%. Seagate Technology’s dividend payout ratio is currently 52.65%.

Wall Street Analyst Weigh In

STX has been the subject of several research analyst reports. Cantor Fitzgerald reissued a “neutral” rating and set a $120.00 price objective on shares of Seagate Technology in a research note on Wednesday, January 22nd. Northland Securities reiterated an “outperform” rating and issued a $160.00 target price (up from $144.00) on shares of Seagate Technology in a research report on Wednesday, January 22nd. Summit Insights upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Bank of America cut their price objective on Seagate Technology from $130.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Finally, UBS Group raised their price objective on Seagate Technology from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus 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.