Vontobel Holding Ltd. Reduces Stake in Seagate Technology Holdings PLC $STX

Vontobel Holding Ltd. lessened its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 37.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,335 shares of the data storage provider’s stock after selling 1,992 shares during the period. Vontobel Holding Ltd.’s holdings in Seagate Technology were worth $760,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harbor Asset Planning Inc. acquired a new stake in Seagate Technology during the second quarter worth about $27,000. Rakuten Securities Inc. grew its stake in shares of 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 buying an additional 168 shares during the period. MTM Investment Management LLC purchased a new stake in shares of Seagate Technology during the 2nd quarter valued at approximately $29,000. GoalVest Advisory LLC lifted its holdings in Seagate Technology by 30.6% in the second quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider’s stock valued at $46,000 after acquiring an additional 75 shares during the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new position in Seagate Technology in the second quarter valued at approximately $57,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on STX. BNP Paribas Exane reduced their target price on Seagate Technology from $240.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. Wells Fargo & Company raised their price objective on Seagate Technology from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. Robert W. Baird upped their target price on shares of Seagate Technology from $188.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Mizuho increased their target price on shares of Seagate Technology from $245.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Finally, Benchmark lifted their price target on shares of Seagate Technology from $255.00 to $325.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $293.13.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $249.90, for a total transaction of $4,998,000.00. Following the sale, the chief executive officer owned 485,668 shares of the company’s stock, valued at approximately $121,368,433.20. This represents a 3.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephanie Tilenius sold 2,046 shares of the business’s 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 transaction, the director directly owned 12,244 shares of the company’s stock, valued at $3,261,924.04. The trade was a 14.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 132,555 shares of company stock worth $36,030,007 over the last three months. 0.79% of the stock is owned by insiders.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $286.22 on Monday. The firm has a market capitalization of $61.13 billion, a PE ratio of 36.74, a price-to-earnings-growth ratio of 1.12 and a beta of 1.59. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $308.93. The firm’s 50-day moving average is $266.74 and its two-hundred day moving average is $206.44.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th will be issued a dividend of $0.74 per share. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date 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 (DPR) is currently 38.00%.

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.