Seagate Technology Holdings PLC $STX Stake Lessened by Yousif Capital Management LLC

Yousif Capital Management LLC cut its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,397 shares of the data storage provider’s stock after selling 2,015 shares during the period. Yousif Capital Management LLC’s holdings in Seagate Technology were worth $5,759,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in STX. Norges Bank acquired a new stake in shares of Seagate Technology in the 2nd quarter valued at about $197,027,000. Boston Partners bought a new stake in Seagate Technology in the second quarter valued at about $193,500,000. Soroban Capital Partners LP increased its holdings in Seagate Technology by 1,468.1% in the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock valued at $204,602,000 after buying an additional 1,327,197 shares during the last quarter. Maple Rock Capital Partners Inc. raised its stake in Seagate Technology by 85.3% during the second quarter. Maple Rock Capital Partners Inc. now owns 1,131,752 shares of the data storage provider’s stock valued at $163,346,000 after buying an additional 520,846 shares in the last quarter. Finally, State Street Corp lifted its holdings in Seagate Technology by 5.0% during the 2nd quarter. State Street Corp now owns 9,001,365 shares of the data storage provider’s stock worth $1,305,499,000 after buying an additional 432,455 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Seagate Technology

In other news, Director Stephanie Tilenius sold 2,046 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $266.41, for a total value of $545,074.86. Following the completion of the transaction, the director owned 12,244 shares of the company’s stock, valued at approximately $3,261,924.04. This represents a 14.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total transaction of $204,682.50. Following the sale, the director owned 5,601 shares in the company, valued at approximately $1,528,568.91. This represents a 11.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 132,555 shares of company stock worth $36,030,007 over the last quarter. Insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. UBS Group dropped their price target on Seagate Technology from $235.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. Wedbush boosted their target price on shares of Seagate Technology from $260.00 to $290.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Fox Advisors raised their price target on shares of Seagate Technology from $245.00 to $270.00 in a research report on Wednesday, October 29th. Susquehanna lifted their price target on shares of Seagate Technology from $80.00 to $150.00 and gave the company a “negative” rating in a report on Wednesday, October 29th. Finally, TD Cowen increased their price objective on shares of Seagate Technology from $270.00 to $340.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $293.13.

Seagate Technology Stock Up 0.9%

Seagate Technology stock opened at $285.22 on Thursday. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $308.93. The firm has a market capitalization of $60.91 billion, a price-to-earnings ratio of 36.61, a PEG ratio of 1.11 and a beta of 1.59. The firm has a 50-day moving average price of $264.34 and a two-hundred day moving average price of $203.69.

Seagate Technology Increases Dividend

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

About Seagate Technology

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.