Perpetual Ltd Takes $1.63 Million Position in Seagate Technology Holdings PLC $STX

Perpetual Ltd bought a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,887 shares of the data storage provider’s stock, valued at approximately $1,626,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Harbor Asset Planning Inc. purchased a new stake in shares of Seagate Technology in the second quarter worth about $27,000. Rakuten Securities Inc. grew its position in shares of Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 168 shares during the period. MTM Investment Management LLC purchased a new position in shares of Seagate Technology in the second quarter worth about $29,000. GoalVest Advisory LLC grew its stake in Seagate Technology by 30.6% during the 2nd 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 in the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new stake in Seagate Technology in the 2nd quarter valued at about $57,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

STX opened at $296.36 on Friday. The company has a market cap of $63.29 billion, a price-to-earnings ratio of 38.04, a PEG ratio of 1.16 and a beta of 1.59. The business’s fifty day moving average is $260.33 and its two-hundred day moving average is $200.42. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $308.93.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, December 24th. 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 1.0%. Seagate Technology’s dividend payout ratio is presently 36.97%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on STX shares. Robert W. Baird boosted their price objective on Seagate Technology from $188.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Benchmark boosted their target price on shares of Seagate Technology from $255.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Argus upped their target price on shares of Seagate Technology from $170.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 30th. BNP Paribas Exane dropped their price target on shares of Seagate Technology from $240.00 to $230.00 and set a “neutral” rating for the company in a research report on Wednesday, October 29th. Finally, UBS Group decreased their price objective on shares of Seagate Technology from $235.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and a consensus target price of $293.13.

Insider Buying and Selling

In other news, CFO Gianluca Romano sold 54,021 shares of the stock in a transaction dated 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 transaction, the chief financial officer owned 56,293 shares of the company’s stock, valued at approximately $16,052,511.88. This trade represents a 48.97% 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, EVP Ban Seng Teh sold 6,000 shares of Seagate Technology stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $270.00, for a total transaction of $1,620,000.00. Following the completion of the transaction, the executive vice president directly owned 12,041 shares of the company’s stock, valued at approximately $3,251,070. This represents a 33.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 132,555 shares of company stock worth $36,030,007. 0.79% of the stock is currently 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.