Talos Asset Management LP Invests $17.22 Million in Seagate Technology Holdings plc (NASDAQ:STX)

Talos Asset Management LP acquired a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) in the 4th quarter, Holdings Channel reports. The fund acquired 199,500 shares of the data storage provider’s stock, valued at approximately $17,219,000. Seagate Technology accounts for approximately 4.1% of Talos Asset Management LP’s portfolio, making the stock its 10th largest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisors Asset Management Inc. boosted its stake in Seagate Technology by 177.9% in 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 in the last quarter. JFS Wealth Advisors LLC boosted its stake in Seagate Technology by 27.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock worth $46,000 after buying an additional 113 shares in the last quarter. Human Investing LLC purchased a new stake in Seagate Technology in the fourth quarter worth approximately $48,000. Harvest Fund Management Co. Ltd bought a new stake in Seagate Technology in the third quarter valued at approximately $53,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Seagate Technology in the third quarter valued at approximately $54,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Trading Up 0.3 %

STX opened at $88.93 on Thursday. The stock has a fifty day simple moving average of $96.34 and a two-hundred day simple moving average of $98.92. The company has a market cap of $18.83 billion, a price-to-earnings ratio of 16.26 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.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be issued 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 yield of 3.24%. Seagate Technology’s dividend payout ratio (DPR) is 52.65%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Northland Securities reiterated an “outperform” rating and issued a $160.00 price objective (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 research report on Friday, February 28th. Susquehanna boosted their price objective on Seagate Technology from $65.00 to $68.00 and gave the company a “negative” rating 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. Finally, Mizuho lowered their price objective on Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average price target 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.