Revolve Wealth Partners LLC acquired a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 929 shares of the data storage provider’s stock, valued at approximately $896,000.
Several other hedge funds also recently made changes to their positions in STX. Salomon & Ludwin LLC raised its holdings in shares of Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 51 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after buying an additional 168 shares in the last quarter. Avion Wealth boosted its holdings in Seagate Technology by 343.5% during the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after buying an additional 79 shares in the last quarter. Concord Wealth Partners acquired a new position in Seagate Technology in the fourth quarter worth approximately $28,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its position in Seagate Technology by 23.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after buying an additional 15 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.
Seagate Technology Stock Performance
Shares of STX stock opened at $800.99 on Tuesday. The company has a market capitalization of $181.54 billion, a price-to-earnings ratio of 57.71 and a beta of 2.06. Seagate Technology Holdings PLC has a 1-year low of $151.23 and a 1-year high of $1,145.00. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. The stock’s fifty day simple moving average is $892.31 and its 200-day simple moving average is $651.47.
Seagate Technology Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology’s dividend payout ratio is 21.33%.
Insider Buying and Selling at Seagate Technology
In related news, EVP Ban Seng Teh sold 989 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $870,507.91. Following the transaction, the executive vice president directly owned 4,290 shares of the company’s stock, valued at approximately $3,776,015.10. The trade was a 18.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 17,080 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $827.30, for a total transaction of $14,130,284.00. Following the completion of the transaction, the chief executive officer owned 295,517 shares in the company, valued at approximately $244,481,214.10. This represents a 5.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 149,638 shares of company stock valued at $126,692,095 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on STX shares. Fox Advisors downgraded Seagate Technology from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Susquehanna lifted their target price on Seagate Technology from $775.00 to $875.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. TD Cowen boosted their target price on Seagate Technology from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. upped their target price on Seagate Technology from $1,095.00 to $1,240.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Finally, Loop Capital increased their price target on Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $986.00.
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.
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