U.S. Capital Wealth Advisors LLC Buys New Shares in Seagate Technology Holdings PLC $STX

U.S. Capital Wealth Advisors LLC purchased a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) in the third quarter, HoldingsChannel reports. The fund purchased 26,107 shares of the data storage provider’s stock, valued at approximately $6,163,000.

A number of other hedge funds have also modified their holdings of STX. State Street Corp lifted its holdings in shares of Seagate Technology by 5.0% during the second quarter. State Street Corp now owns 9,001,365 shares of the data storage provider’s stock worth $1,305,499,000 after purchasing an additional 432,455 shares during the period. Geode Capital Management LLC raised its position in Seagate Technology by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 4,567,181 shares of the data storage provider’s stock worth $656,066,000 after buying an additional 85,660 shares during the last quarter. Royal Bank of Canada lifted its stake in Seagate Technology by 0.8% during the 1st quarter. Royal Bank of Canada now owns 1,628,941 shares of the data storage provider’s stock valued at $138,378,000 after acquiring an additional 12,424 shares during the period. Soroban Capital Partners LP boosted its holdings in shares of Seagate Technology by 1,468.1% in the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock valued at $204,602,000 after acquiring an additional 1,327,197 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Seagate Technology by 1.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,386,524 shares of the data storage provider’s stock worth $200,117,000 after acquiring an additional 20,618 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Trading Up 1.5%

Shares of STX stock opened at $296.36 on Friday. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $308.93. The business’s 50 day moving average is $260.33 and its two-hundred day moving average is $199.88. The company has a market capitalization of $63.29 billion, a P/E ratio of 38.04, a P/E/G ratio of 1.14 and a beta of 1.59.

Seagate Technology Increases Dividend

The business also recently declared 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 of this dividend is Wednesday, December 24th. This represents a $2.96 dividend on an annualized basis and a yield of 1.0%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s dividend payout ratio is 36.97%.

Analyst Ratings Changes

STX has been the subject of a number of research reports. Susquehanna boosted their target price on shares of Seagate Technology from $80.00 to $150.00 and gave the company a “negative” rating in a research report on Wednesday, October 29th. China Renaissance initiated coverage on Seagate Technology in a report on Friday, December 5th. They issued a “buy” rating and a $325.00 price objective for the company. The Goldman Sachs Group upped their target price on Seagate Technology from $170.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Rosenblatt Securities lifted their price target on Seagate Technology from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Argus boosted their price target on Seagate Technology from $170.00 to $300.00 and gave the company a “strong-buy” rating in a report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and an average target price of $293.13.

Insider Buying and Selling

In other Seagate Technology news, CFO Gianluca Romano sold 54,021 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $285.16, for a total transaction of $15,404,628.36. Following the completion of the transaction, the chief financial officer directly owned 56,293 shares in the company, valued at approximately $16,052,511.88. This represents a 48.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $271.03, for a total transaction of $5,420,600.00. Following the transaction, the chief executive officer directly owned 445,668 shares in the company, valued at approximately $120,789,398.04. The trade was a 4.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 132,555 shares of company stock worth $36,030,007 in the last 90 days. 0.79% of the stock is owned by insiders.

Seagate Technology 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.