Clearbridge Investments LLC Sells 415,358 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Clearbridge Investments LLC reduced its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 20.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,623,439 shares of the data storage provider’s stock after selling 415,358 shares during the period. Clearbridge Investments LLC’s holdings in Seagate Technology were worth $140,119,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Thrivent Financial for Lutherans raised its position in shares of Seagate Technology by 3.8% during the third quarter. Thrivent Financial for Lutherans now owns 10,877 shares of the data storage provider’s stock worth $1,191,000 after purchasing an additional 402 shares during the period. Advisors Asset Management Inc. raised its holdings in Seagate Technology by 177.9% during the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after buying an additional 258 shares during the last quarter. Algert Global LLC bought a new position in shares of Seagate Technology in the third quarter valued at $612,000. Fisher Asset Management LLC acquired a new position in shares of Seagate Technology during the third quarter valued at about $320,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Seagate Technology by 4.3% during the third quarter. The Manufacturers Life Insurance Company now owns 126,374 shares of the data storage provider’s stock worth $13,842,000 after acquiring an additional 5,246 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Price Performance

Shares of STX opened at $84.92 on Monday. Seagate Technology Holdings plc has a 1 year low of $82.31 and a 1 year high of $115.32. The stock’s fifty day moving average price is $95.71 and its two-hundred day moving average price is $98.29. The firm has a market cap of $17.98 billion, a PE ratio of 15.52 and a beta of 1.01.

Seagate Technology Announces Dividend

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 paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s dividend payout ratio is currently 52.65%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Mizuho dropped their price target on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Northland Securities reaffirmed an “outperform” rating and set a $160.00 target price (up previously from $144.00) on shares of Seagate Technology in a research report on Wednesday, January 22nd. StockNews.com downgraded Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Barclays raised their price objective on Seagate Technology from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 22nd. Finally, Morgan Stanley reduced their target price on shares of Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $121.00.

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.