CacheTech Inc. Has $751,000 Stock Position in Seagate Technology Holdings PLC $STX

CacheTech Inc. lessened its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 53.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,216 shares of the data storage provider’s stock after selling 6,067 shares during the quarter. CacheTech Inc.’s holdings in Seagate Technology were worth $751,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Caldwell Trust Co bought a new position in shares of Seagate Technology in the second quarter valued at approximately $217,000. Valeo Financial Advisors LLC bought a new stake in shares of Seagate Technology in the 2nd quarter worth about $366,000. Osaic Holdings Inc. increased its holdings in shares of Seagate Technology by 59.3% during the second quarter. Osaic Holdings Inc. now owns 68,115 shares of the data storage provider’s stock worth $9,162,000 after buying an additional 25,351 shares in the last quarter. FSC Wealth Advisors LLC bought a new position in Seagate Technology in the 2nd quarter valued at $69,000. Finally, Orion Porfolio Solutions LLC lifted its position in Seagate Technology by 36.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,346 shares of the data storage provider’s stock worth $483,000 after buying an additional 893 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on STX. Cantor Fitzgerald lifted their target price on Seagate Technology from $280.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Fox Advisors raised their price objective on Seagate Technology from $245.00 to $270.00 in a research note on Wednesday, October 29th. Mizuho raised 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. Argus raised their price target on shares of Seagate Technology from $170.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 30th. Finally, BNP Paribas Exane dropped their target price on Seagate Technology from $240.00 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 issued a Buy rating, five have given a Hold rating and one has given 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 $287.17.

Insider Transactions at Seagate Technology

In related news, Director Stephanie Tilenius sold 2,046 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $266.41, for a total value of $545,074.86. Following the sale, the director directly owned 12,244 shares of the company’s stock, valued at $3,261,924.04. This trade represents a 14.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $271.03, for a total transaction of $5,420,600.00. Following the transaction, the chief executive officer owned 445,668 shares of the company’s stock, valued at approximately $120,789,398.04. This represents a 4.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 132,932 shares of company stock worth $36,109,652. Corporate insiders own 0.79% of the company’s stock.

Seagate Technology Stock Performance

NASDAQ:STX opened at $287.64 on Monday. The firm has a market cap of $61.43 billion, a price-to-earnings ratio of 36.92, a P/E/G ratio of 1.13 and a beta of 1.59. The firm’s 50-day simple moving average is $254.10 and its 200 day simple moving average is $195.06. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $308.93.

Seagate Technology Increases Dividend

The business 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. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, December 24th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s dividend payout ratio is currently 36.97%.

Seagate Technology 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.