Texas Permanent School Fund Corp Sells 7,348 Shares of Seagate Technology Holdings PLC $STX

Texas Permanent School Fund Corp cut its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 33.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,935 shares of the data storage provider’s stock after selling 7,348 shares during the period. Texas Permanent School Fund Corp’s holdings in Seagate Technology were worth $2,156,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Harbor Asset Planning Inc. bought a new stake in Seagate Technology in the 2nd quarter valued at about $27,000. Rakuten Securities Inc. boosted its stake in shares of Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after buying an additional 168 shares during the period. MTM Investment Management LLC acquired a new stake in Seagate Technology during the second quarter worth approximately $29,000. GoalVest Advisory LLC grew its position in Seagate Technology by 30.6% during the second quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider’s stock worth $46,000 after buying an additional 75 shares in the last quarter. Finally, Trust Co. of Toledo NA OH bought a new position in Seagate Technology during the 2nd quarter worth $57,000. 92.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Barclays upped their target price on Seagate Technology from $200.00 to $240.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 29th. Evercore ISI increased their price objective on shares of Seagate Technology from $160.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Argus raised their target price on shares of Seagate Technology from $170.00 to $300.00 and gave the company a “strong-buy” rating in a report on Thursday, October 30th. Wedbush upped their price target on shares of Seagate Technology from $260.00 to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Finally, China Renaissance started coverage on shares of Seagate Technology in a research report on Friday, December 5th. They set a “buy” rating and a $325.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $293.13.

Insider Activity at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 6,000 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $270.00, for a total value of $1,620,000.00. Following the completion of the transaction, the executive vice president owned 12,041 shares of the company’s stock, valued at $3,251,070. This represents a 33.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephanie Tilenius sold 2,046 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $266.41, for a total value of $545,074.86. Following the completion of the transaction, the director owned 12,244 shares of the company’s stock, valued at $3,261,924.04. This represents a 14.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 132,555 shares of company stock valued at $36,030,007. 0.79% of the stock is owned by company insiders.

Seagate Technology Trading Up 1.5%

STX opened at $296.36 on Monday. The company has a market cap of $63.29 billion, a P/E ratio of 38.04, a PEG ratio of 1.16 and a beta of 1.59. The company’s 50 day moving average is $260.33 and its 200-day moving average is $200.93. 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 business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th will be paid a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, December 24th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.0%. Seagate Technology’s payout ratio is presently 36.97%.

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.