Vinva Investment Management Ltd Buys Shares of 3,420 Seagate Technology Holdings PLC $STX

Vinva Investment Management Ltd bought a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 3,420 shares of the data storage provider’s stock, valued at approximately $484,000.

A number of other hedge funds have also made changes to their positions in STX. Harbor Asset Planning Inc. acquired a new stake in Seagate Technology in the second quarter valued at $27,000. MTM Investment Management LLC bought a new stake in shares of Seagate Technology in the 2nd quarter worth about $29,000. Zions Bancorporation National Association UT acquired a new stake in shares of Seagate Technology in the 1st quarter valued at about $42,000. GoalVest Advisory LLC lifted its position in shares of 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 purchasing an additional 75 shares during the last quarter. Finally, Costello Asset Management INC acquired a new position in Seagate Technology in the first quarter worth about $47,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on STX shares. Susquehanna upped their price objective on Seagate Technology from $80.00 to $150.00 and gave the company a “negative” rating in a research note on Wednesday, October 29th. Fox Advisors boosted their price target on Seagate Technology from $245.00 to $270.00 in a report on Wednesday, October 29th. Loop Capital upped their price target on Seagate Technology from $350.00 to $465.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Mizuho lifted their price objective on shares of Seagate Technology from $245.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Finally, The Goldman Sachs Group boosted their target price on shares of Seagate Technology from $170.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and a consensus target price of $283.41.

Seagate Technology Trading Up 1.6%

Shares of NASDAQ STX opened at $276.60 on Friday. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $297.88. The company has a market cap of $59.07 billion, a price-to-earnings ratio of 35.51, a price-to-earnings-growth ratio of 1.17 and a beta of 1.63. The stock’s 50 day simple moving average is $245.01 and its 200 day simple moving average is $182.55.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 1.1%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Wednesday, December 24th. Seagate Technology’s dividend payout ratio is presently 38.00%.

Insider Activity at Seagate Technology

In other news, EVP Kian Fatt Chong sold 7,078 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $272.14, for a total transaction of $1,926,206.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Gianluca Romano sold 54,021 shares of Seagate Technology 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 completion of the sale, the chief financial officer 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 131,261 shares of company stock valued at $34,210,708. Company insiders own 0.79% of the company’s stock.

Seagate Technology Company Profile

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.