Seagate Technology Holdings PLC $STX Shares Purchased by Corient Private Wealth LLC

Corient Private Wealth LLC raised its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 35.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,583 shares of the data storage provider’s stock after purchasing an additional 6,483 shares during the period. Corient Private Wealth LLC’s holdings in Seagate Technology were worth $3,548,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp increased its stake in shares of Seagate Technology by 5.0% in the second quarter. State Street Corp now owns 9,001,365 shares of the data storage provider’s stock worth $1,305,499,000 after buying an additional 432,455 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 worth $656,066,000 after acquiring an additional 85,660 shares in the last quarter. Royal Bank of Canada increased its position in shares of 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 position in shares of Seagate Technology by 1,468.1% in the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after purchasing an additional 1,327,197 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Seagate Technology by 1.5% in the 2nd 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 purchasing an additional 20,618 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STX has been the subject of a number of research reports. Bank of America lifted their price target on Seagate Technology from $275.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. Robert W. Baird increased their target price on Seagate Technology from $188.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Susquehanna boosted their price target on Seagate Technology from $80.00 to $150.00 and gave the company a “negative” rating in a report on Wednesday, October 29th. TD Cowen upped their price target on Seagate Technology from $270.00 to $340.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Finally, Wells Fargo & Company raised their price objective on Seagate Technology from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Two investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $293.13.

Seagate Technology Stock Performance

Shares of STX opened at $296.36 on Monday. The firm has a fifty day moving average of $260.33 and a 200-day moving average of $200.93. The company has a market cap of $63.29 billion, a price-to-earnings ratio of 38.04, a price-to-earnings-growth ratio of 1.16 and a beta of 1.59. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $308.93.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th will be given a $0.74 dividend. 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 yield of 1.0%. Seagate Technology’s payout ratio is currently 36.97%.

Insider Buying and Selling

In other news, CFO Gianluca Romano sold 54,021 shares of Seagate Technology stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $285.16, for a total transaction of $15,404,628.36. Following the sale, the chief financial officer owned 56,293 shares of the company’s stock, valued at approximately $16,052,511.88. The trade was a 48.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stephanie Tilenius sold 2,046 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $266.41, for a total value of $545,074.86. Following the transaction, the director owned 12,244 shares of the company’s stock, valued at approximately $3,261,924.04. This represents a 14.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 132,555 shares of company stock valued at $36,030,007 in the last ninety days. Insiders own 0.79% of the company’s stock.

Seagate Technology Company Profile

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.