Rhumbline Advisers Boosts Stake in Seagate Technology Holdings PLC $STX

Rhumbline Advisers raised its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 0.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 246,868 shares of the data storage provider’s stock after buying an additional 1,134 shares during the quarter. Rhumbline Advisers owned about 0.12% of Seagate Technology worth $35,630,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in STX. Harbor Asset Planning Inc. purchased a new position in shares of Seagate Technology in the second quarter valued at $27,000. MTM Investment Management LLC bought a new position in Seagate Technology during the second quarter valued at $29,000. GoalVest Advisory LLC grew its stake in shares of Seagate Technology by 30.6% in 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 in the last quarter. Trust Co. of Toledo NA OH purchased a new position in shares of Seagate Technology in the 2nd quarter worth $57,000. Finally, Bruce G. Allen Investments LLC increased its holdings in shares of Seagate Technology by 28.1% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 419 shares of the data storage provider’s stock worth $60,000 after buying an additional 92 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Insider Transactions at Seagate Technology

In related news, EVP John Christopher Morris sold 15,347 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $195.80, for a total value of $3,004,942.60. Following the transaction, the executive vice president owned 9,843 shares of the company’s stock, valued at $1,927,259.40. This trade represents a 60.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $262.82, for a total transaction of $5,256,400.00. Following the sale, the chief executive officer owned 465,668 shares of the company’s stock, valued at $122,386,863.76. The trade was a 4.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 131,261 shares of company stock valued at $34,210,708. Company insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

STX has been the subject of a number of analyst reports. The Goldman Sachs Group increased their price target on shares of Seagate Technology from $170.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Rosenblatt Securities upped their price objective on Seagate Technology from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. TD Cowen lifted their target price on Seagate Technology from $270.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Morgan Stanley increased their price target on Seagate Technology from $265.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, Barclays raised their price target on Seagate Technology from $200.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $283.41.

Seagate Technology Stock Performance

Shares of STX stock opened at $261.89 on Wednesday. The stock has a 50 day moving average price of $241.61 and a 200 day moving average price of $179.52. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $297.88. The firm has a market capitalization of $55.93 billion, a P/E ratio of 33.62, a P/E/G ratio of 1.17 and a beta of 1.63.

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th will be paid a dividend of $0.74 per share. This is an increase 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 1.1%. The ex-dividend date of this dividend is Wednesday, December 24th. Seagate Technology’s payout ratio is presently 38.00%.

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.