2,048 Shares in Seagate Technology Holdings PLC $STX Purchased by Quantum Portfolio Management LLC

Quantum Portfolio Management LLC purchased a new stake in Seagate Technology Holdings PLC (NASDAQ:STX) in the 3rd quarter, Holdings Channel reports. The firm purchased 2,048 shares of the data storage provider’s stock, valued at approximately $483,000.

Other large investors have also modified their holdings of the company. Resonant Capital Advisors LLC purchased a new stake in Seagate Technology in the third quarter valued at approximately $280,000. Meitav Investment House Ltd. purchased a new stake in shares of Seagate Technology during the 3rd quarter valued at $2,626,000. Sequoia Financial Advisors LLC grew its stake in shares of Seagate Technology by 29.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,939 shares of the data storage provider’s stock valued at $1,638,000 after buying an additional 1,570 shares during the period. Evergreen Capital Management LLC increased its holdings in shares of Seagate Technology by 7.5% during the 3rd quarter. Evergreen Capital Management LLC now owns 5,106 shares of the data storage provider’s stock worth $1,209,000 after buying an additional 358 shares during the last quarter. Finally, Leavell Investment Management Inc. raised its position in shares of Seagate Technology by 5.8% in the 3rd quarter. Leavell Investment Management Inc. now owns 2,023 shares of the data storage provider’s stock worth $479,000 after buying an additional 110 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STX has been the subject of several research analyst reports. Rosenblatt Securities upped their price target on Seagate Technology from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Susquehanna raised shares of Seagate Technology from a “negative” rating to a “neutral” rating and increased their target price for the stock from $150.00 to $280.00 in a research report on Friday. The Goldman Sachs Group raised their price target on shares of Seagate Technology from $280.00 to $310.00 and gave the company a “buy” rating in a report on Friday, January 9th. Bank of America boosted their price objective on shares of Seagate Technology from $275.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. Finally, Sanford C. Bernstein lifted their target price on shares of Seagate Technology from $275.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $320.39.

Seagate Technology Stock Performance

Shares of STX opened at $326.23 on Tuesday. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $335.02. The company has a market capitalization of $69.67 billion, a P/E ratio of 41.88, a P/E/G ratio of 1.28 and a beta of 1.60. The stock has a 50-day moving average price of $283.75 and a 200 day moving average price of $225.12.

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th were given a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, December 24th. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s payout ratio is presently 38.00%.

Insiders Place Their Bets

In other news, Director Stephanie Tilenius sold 2,046 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $266.41, for a total transaction of $545,074.86. Following the transaction, the director owned 12,244 shares of the company’s stock, valued at approximately $3,261,924.04. This trade represents a 14.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total value of $204,682.50. Following the completion of the sale, the director directly owned 5,601 shares of the company’s stock, 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. In the last quarter, insiders have sold 132,557 shares of company stock worth $36,847,793. Company insiders own 0.79% of the company’s stock.

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.