Shaker Investments LLC OH Acquires New Shares in Seagate Technology Holdings plc (NASDAQ:STX)

Shaker Investments LLC OH bought a new position in Seagate Technology Holdings plc (NASDAQ:STX) in the fourth quarter, HoldingsChannel.com reports. The fund bought 21,788 shares of the data storage provider’s stock, valued at approximately $1,881,000.

Several other institutional investors and hedge funds have also bought and sold shares of STX. Exchange Traded Concepts LLC lifted its holdings in Seagate Technology by 4,214.0% during the third quarter. Exchange Traded Concepts LLC now owns 2,157 shares of the data storage provider’s stock valued at $236,000 after purchasing an additional 2,107 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Seagate Technology during the 3rd quarter valued at about $88,000. Stablepoint Partners LLC increased its stake in Seagate Technology by 5.3% during the third quarter. Stablepoint Partners LLC now owns 50,482 shares of the data storage provider’s stock worth $5,529,000 after acquiring an additional 2,542 shares during the last quarter. B.O.S.S. Retirement Advisors LLC boosted its holdings in shares of Seagate Technology by 1.9% in the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 10,460 shares of the data storage provider’s stock worth $1,146,000 after purchasing an additional 198 shares during the period. Finally, nVerses Capital LLC increased its position in Seagate Technology by 18.2% during the third quarter. nVerses Capital LLC now owns 9,100 shares of the data storage provider’s stock valued at $997,000 after acquiring an additional 1,400 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STX has been the subject of a number of recent analyst reports. UBS Group boosted their price objective on Seagate Technology from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Morgan Stanley cut their price target on shares of Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. The Goldman Sachs Group dropped their target price on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Friday, January 10th. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company lowered their target price on Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $122.56.

Insider Activity

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $101.82, for a total value of $76,365.00. Following the transaction, the director now directly owns 6,555 shares in the company, valued at approximately $667,430.10. This represents a 10.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $102.83, for a total transaction of $2,056,600.00. Following the sale, the chief executive officer now owns 622,497 shares in the company, valued at approximately $64,011,366.51. This trade represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,891 shares of company stock worth $2,146,848. Company insiders own 0.81% of the company’s stock.

Seagate Technology Trading Up 1.7 %

Shares of STX opened at $97.80 on Tuesday. The stock’s 50 day moving average is $94.54 and its two-hundred day moving average is $99.72. The firm has a market capitalization of $20.71 billion, a PE ratio of 17.88 and a beta of 1.07. Seagate Technology Holdings plc has a twelve month low of $82.31 and a twelve month high of $115.32.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 2.94%. Seagate Technology’s payout ratio is currently 52.65%.

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.