Proficio Capital Partners LLC Acquires New Position in Seagate Technology Holdings plc (NASDAQ:STX)

Proficio Capital Partners LLC acquired a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,342 shares of the data storage provider’s stock, valued at approximately $1,065,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC raised its stake in Seagate Technology by 13.9% during the third quarter. Janney Montgomery Scott LLC now owns 73,064 shares of the data storage provider’s stock worth $8,003,000 after purchasing an additional 8,944 shares during the period. QRG Capital Management Inc. raised its stake in shares of Seagate Technology by 1.8% in the 3rd quarter. QRG Capital Management Inc. now owns 10,330 shares of the data storage provider’s stock valued at $1,131,000 after acquiring an additional 183 shares during the period. Amalgamated Bank raised its stake in shares of Seagate Technology by 4.3% in the 3rd quarter. Amalgamated Bank now owns 30,226 shares of the data storage provider’s stock valued at $3,311,000 after acquiring an additional 1,235 shares during the period. M&G PLC raised its stake in shares of Seagate Technology by 2.7% in the 3rd quarter. M&G PLC now owns 148,370 shares of the data storage provider’s stock valued at $16,321,000 after acquiring an additional 3,943 shares during the period. Finally, Graypoint LLC raised its stake in shares of Seagate Technology by 86.2% in the 3rd quarter. Graypoint LLC now owns 5,630 shares of the data storage provider’s stock valued at $617,000 after acquiring an additional 2,606 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

STX has been the topic of a number of research reports. 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. Morgan Stanley lowered their price target on shares of Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. Northland Securities reissued an “outperform” rating and set a $160.00 price objective (up from $144.00) on shares of Seagate Technology in a report on Wednesday, January 22nd. Rosenblatt Securities raised their price objective on shares of Seagate Technology from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Summit Insights raised shares of Seagate Technology from a “hold” rating to a “buy” rating 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.56.

Seagate Technology Stock Performance

Seagate Technology stock opened at $88.00 on Friday. The firm’s 50-day moving average is $96.34 and its 200-day moving average is $99.73. Seagate Technology Holdings plc has a 1 year low of $82.31 and a 1 year high of $115.32. The company has a market cap of $18.63 billion, a P/E ratio of 16.09 and a beta of 1.07.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be given a $0.72 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 3.27%. Seagate Technology’s dividend 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.