Seagate Technology Holdings PLC $STX Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC reduced its position in Seagate Technology Holdings PLC (NASDAQ:STX) by 31.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,999 shares of the data storage provider’s stock after selling 3,266 shares during the quarter. Cresset Asset Management LLC’s holdings in Seagate Technology were worth $1,016,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. North Berkeley Wealth Management LLC purchased a new position in shares of Seagate Technology in the 2nd quarter worth about $315,000. Amundi grew its holdings in shares of Seagate Technology by 32.7% during the 2nd quarter. Amundi now owns 536,593 shares of the data storage provider’s stock worth $81,530,000 after purchasing an additional 132,266 shares during the period. First Trust Advisors LP increased its position in Seagate Technology by 7.3% during the 2nd quarter. First Trust Advisors LP now owns 414,708 shares of the data storage provider’s stock worth $59,855,000 after purchasing an additional 28,285 shares in the last quarter. Channing Capital Management LLC purchased a new position in Seagate Technology in the second quarter valued at approximately $4,542,000. Finally, EverSource Wealth Advisors LLC lifted its position in Seagate Technology by 29.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,630 shares of the data storage provider’s stock valued at $235,000 after buying an additional 372 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on STX shares. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 2nd. Bank of America increased their price target on Seagate Technology from $275.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, November 20th. Mizuho boosted their price objective on Seagate Technology from $245.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. TD Cowen upped their target price on Seagate Technology from $270.00 to $340.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Finally, Cantor Fitzgerald raised their target price on Seagate Technology from $280.00 to $400.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $287.17.

Seagate Technology Stock Up 5.7%

STX stock opened at $298.92 on Thursday. The stock’s 50 day moving average is $252.34 and its two-hundred day moving average is $191.96. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $301.47. The company has a market capitalization of $63.84 billion, a PE ratio of 38.37, a P/E/G ratio of 1.11 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 issued a $0.74 dividend. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 24th. Seagate Technology’s dividend payout ratio is currently 36.97%.

Insider Activity

In other news, EVP Kian Fatt Chong sold 7,078 shares of the 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Gianluca Romano sold 54,021 shares of Seagate Technology stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $285.16, for a total value of $15,404,628.36. Following the completion of the transaction, the chief financial officer owned 56,293 shares of the company’s stock, valued at $16,052,511.88. This trade represents a 48.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 148,279 shares of company stock worth $39,114,595 over the last ninety days. 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.