Rehmann Capital Advisory Group acquired a new stake in Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 967 shares of the data storage provider’s stock, valued at approximately $927,000.
Other large investors have also made changes to their positions in the company. Rakuten Securities Inc. lifted its holdings in Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 168 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Seagate Technology by 23.1% during 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 in the last quarter. Quarry LP acquired a new position in shares of Seagate Technology in the fourth quarter valued at approximately $31,000. WealthCollab LLC raised its position in shares of Seagate Technology by 27.4% in the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock valued at $36,000 after buying an additional 20 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in Seagate Technology during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 92.87% of the company’s stock.
Seagate Technology Stock Down 1.0%
Shares of STX opened at $808.54 on Thursday. Seagate Technology Holdings PLC has a fifty-two week low of $170.01 and a fifty-two week high of $1,145.00. The company’s fifty day moving average is $857.47 and its two-hundred day moving average is $706.14. The firm has a market cap of $183.26 billion, a PE ratio of 58.25 and a beta of 2.06. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56.
Seagate Technology Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be paid a dividend of $0.74 per share. The ex-dividend date is Thursday, September 24th. This represents a $2.96 annualized dividend and a yield of 0.4%. Seagate Technology’s dividend payout ratio is currently 21.33%.
Analyst Ratings Changes
STX has been the subject of several recent analyst reports. Wells Fargo & Company lifted their target price on shares of Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. raised their price objective on Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Barclays upped their target price on Seagate Technology from $1,000.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Susquehanna increased their target price on Seagate Technology from $775.00 to $875.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Finally, Loop Capital raised their price target on Seagate Technology from $950.00 to $1,140.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $986.00.
Check Out Our Latest Stock Analysis on STX
Insider Transactions at Seagate Technology
In related news, EVP Ban Seng Teh sold 9,862 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $852.97, for a total transaction of $8,411,990.14. Following the completion of the sale, the executive vice president owned 5,210 shares of the company’s stock, valued at approximately $4,443,973.70. This represents a 65.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP James Ci Lee sold 9,013 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $794.84, for a total transaction of $7,163,892.92. Following the completion of the transaction, the executive vice president owned 347 shares in the company, valued at $275,809.48. The trade was a 96.29% 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. In the last 90 days, insiders have sold 161,015 shares of company stock valued at $136,765,516. 0.79% of the stock is owned by company insiders.
Seagate Technology Company 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.
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