Seagate Technology Holdings PLC $STX Position Increased by Osaic Holdings Inc.

Osaic Holdings Inc. increased its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 59.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,115 shares of the data storage provider’s stock after buying an additional 25,351 shares during the quarter. Osaic Holdings Inc.’s holdings in Seagate Technology were worth $9,162,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Seagate Technology by 5.0% during the second quarter. State Street Corp now owns 9,001,365 shares of the data storage provider’s stock valued at $1,305,499,000 after acquiring an additional 432,455 shares during the period. Geode Capital Management LLC boosted its stake in Seagate Technology by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 4,567,181 shares of the data storage provider’s stock valued at $656,066,000 after purchasing an additional 85,660 shares during the period. Royal Bank of Canada grew its position in Seagate Technology by 0.8% in the 1st quarter. Royal Bank of Canada now owns 1,628,941 shares of the data storage provider’s stock worth $138,378,000 after purchasing an additional 12,424 shares during the last quarter. Soroban Capital Partners LP increased its stake in shares of Seagate Technology by 1,468.1% in the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock valued at $204,602,000 after purchasing an additional 1,327,197 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Seagate Technology by 1.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,386,524 shares of the data storage provider’s stock valued at $200,117,000 after buying an additional 20,618 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Stock Performance

STX opened at $296.36 on Friday. The company has a market capitalization of $63.29 billion, a PE ratio of 38.04, a P/E/G ratio of 1.16 and a beta of 1.59. The stock’s fifty day moving average is $260.33 and its 200-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 firm also recently disclosed 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 is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date is Wednesday, December 24th. This represents a $2.96 annualized dividend and a dividend yield of 1.0%. Seagate Technology’s payout ratio is 36.97%.

Wall Street Analysts Forecast Growth

STX has been the subject of a number of recent analyst reports. Robert W. Baird increased their price objective on Seagate Technology from $188.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. China Renaissance initiated coverage on Seagate Technology in a research report on Friday, December 5th. They set a “buy” rating and a $325.00 price target for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a research note on Monday, December 15th. Zacks Research upgraded shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 2nd. Finally, Rosenblatt Securities upped their price objective on shares of Seagate Technology from $250.00 to $270.00 and gave the stock a “buy” rating 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $293.13.

Insider Buying and Selling

In related news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $249.90, for a total transaction of $4,998,000.00. Following the completion of the sale, the chief executive officer directly owned 485,668 shares in the company, valued at approximately $121,368,433.20. This trade represents a 3.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kian Fatt Chong sold 7,078 shares of Seagate Technology stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $272.14, for a total transaction of $1,926,206.92. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 132,555 shares of company stock worth $36,030,007. 0.79% of the stock is owned by insiders.

About Seagate Technology

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.