Skandinaviska Enskilda Banken AB publ Has $9.50 Million Stock Position in Seagate Technology Holdings PLC $STX

Skandinaviska Enskilda Banken AB publ cut its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 37.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 65,786 shares of the data storage provider’s stock after selling 38,580 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Seagate Technology were worth $9,495,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Harbor Asset Planning Inc. bought a new stake in Seagate Technology during the 2nd quarter worth approximately $27,000. MTM Investment Management LLC bought a new position in shares of Seagate Technology in the second quarter valued at approximately $29,000. Zions Bancorporation National Association UT purchased a new position in shares of Seagate Technology during the first quarter valued at approximately $42,000. GoalVest Advisory LLC grew its holdings in Seagate Technology by 30.6% during the second 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. Finally, Costello Asset Management INC purchased a new stake in Seagate Technology in the 1st quarter valued at $47,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Ratings Changes

STX has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on Seagate Technology from $240.00 to $250.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. TD Cowen increased their target price on shares of Seagate Technology from $270.00 to $340.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Citigroup raised their price target on shares of Seagate Technology from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Robert W. Baird upped their price objective on shares of Seagate Technology from $188.00 to $270.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Finally, Rosenblatt Securities increased their price objective on shares of Seagate Technology from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average target price of $283.41.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP John Christopher Morris sold 15,347 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $195.80, for a total value of $3,004,942.60. Following the completion of the sale, the executive vice president directly owned 9,843 shares of the company’s stock, valued at $1,927,259.40. This trade represents a 60.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kian Fatt Chong sold 7,078 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $272.14, for a total value of $1,926,206.92. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 131,261 shares of company stock valued at $34,210,708 in the last quarter. Insiders own 0.79% of the company’s stock.

Seagate Technology Stock Up 1.6%

STX opened at $276.60 on Friday. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $297.88. The company’s 50-day moving average price is $245.01 and its two-hundred day moving average price is $182.55. The stock has a market cap of $59.07 billion, a price-to-earnings ratio of 35.51, a PEG ratio of 1.17 and a beta of 1.63.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 24th will be paid a $0.74 dividend. The ex-dividend date is Wednesday, December 24th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a yield of 1.1%. Seagate Technology’s dividend payout ratio (DPR) is currently 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.