6,887 Shares in Seagate Technology Holdings PLC $STX Acquired by Perpetual Ltd

Perpetual Ltd bought a new position in Seagate Technology Holdings PLC (NASDAQ:STX) in the 3rd quarter, Holdings Channel.com reports. The fund bought 6,887 shares of the data storage provider’s stock, valued at approximately $1,626,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of STX. Harbor Asset Planning Inc. acquired a new stake in shares of Seagate Technology during the 2nd quarter worth approximately $27,000. Rakuten Securities Inc. grew its holdings in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 168 shares during the period. MTM Investment Management LLC bought a new stake in Seagate Technology in the second quarter valued at approximately $29,000. GoalVest Advisory LLC raised its holdings in Seagate Technology by 30.6% during the 2nd quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider’s stock worth $46,000 after buying an additional 75 shares during the period. Finally, Trust Co. of Toledo NA OH acquired a new position in shares of Seagate Technology in the second quarter valued at approximately $57,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on STX shares. TD Cowen increased their price objective on Seagate Technology from $270.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. The Goldman Sachs Group raised their price objective on Seagate Technology from $170.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Mizuho lifted their target price on Seagate Technology from $245.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Seagate Technology in a research note on Monday, December 15th. Finally, Susquehanna raised their target price on shares of Seagate Technology from $80.00 to $150.00 and gave the company a “negative” rating in a research note on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $293.13.

Insider Activity

In other news, EVP Ban Seng Teh sold 6,000 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $270.00, for a total transaction of $1,620,000.00. Following the sale, the executive vice president directly owned 12,041 shares of the company’s stock, valued at approximately $3,251,070. This represents a 33.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephanie Tilenius sold 2,046 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $266.41, for a total transaction of $545,074.86. Following the completion of the transaction, the director directly owned 12,244 shares in the company, valued at approximately $3,261,924.04. This represents a 14.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 132,555 shares of company stock worth $36,030,007. 0.79% of the stock is owned by insiders.

Seagate Technology Price Performance

STX opened at $296.36 on Friday. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $308.93. The company has a market capitalization of $63.29 billion, a PE ratio of 38.04, a price-to-earnings-growth ratio of 1.16 and a beta of 1.59. The business has a fifty day simple moving average of $260.33 and a 200 day simple moving average of $200.42.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th will be given a $0.74 dividend. The ex-dividend date is Wednesday, December 24th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.0%. Seagate Technology’s dividend payout ratio (DPR) is presently 36.97%.

Seagate Technology Profile

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.