Avanza Fonder AB Trims Holdings in Seagate Technology Holdings PLC $STX

Avanza Fonder AB reduced its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 17.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,753 shares of the data storage provider’s stock after selling 2,507 shares during the period. Avanza Fonder AB’s holdings in Seagate Technology were worth $2,774,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Seagate Technology during the second quarter valued at approximately $197,027,000. Boston Partners purchased a new stake in shares of Seagate Technology in the 2nd quarter worth approximately $193,500,000. Soroban Capital Partners LP increased its position in Seagate Technology by 1,468.1% during the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock valued at $204,602,000 after buying an additional 1,327,197 shares in the last quarter. Maple Rock Capital Partners Inc. raised its stake in Seagate Technology by 85.3% during the second quarter. Maple Rock Capital Partners Inc. now owns 1,131,752 shares of the data storage provider’s stock valued at $163,346,000 after buying an additional 520,846 shares during the last quarter. Finally, State Street Corp boosted its holdings in 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 acquiring an additional 432,455 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Insider Activity

In other news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total value of $204,682.50. Following the transaction, the director owned 5,601 shares in the company, valued at $1,528,568.91. This represents a 11.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ban Seng Teh sold 6,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $270.00, for a total transaction of $1,620,000.00. Following the sale, the executive vice president directly owned 12,041 shares of the company’s stock, valued at approximately $3,251,070. The trade was a 33.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 132,555 shares of company stock worth $36,030,007. Company insiders own 0.79% of the company’s stock.

Seagate Technology Trading Up 0.3%

NASDAQ:STX opened at $286.22 on Friday. The company has a market cap of $61.13 billion, a PE ratio of 36.74, a price-to-earnings-growth ratio of 1.12 and a beta of 1.59. The company has a 50 day simple moving average of $266.74 and a two-hundred day simple moving average of $205.34. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $308.93.

Seagate Technology Increases Dividend

The company also recently declared 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 is Wednesday, December 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.0%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s dividend payout ratio is presently 38.00%.

Wall Street Analysts Forecast Growth

STX has been the subject of several recent analyst 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 report on Thursday, November 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Seagate Technology in a report on Monday. China Renaissance started coverage on shares of Seagate Technology in a report on Friday, December 5th. They set a “buy” rating and a $325.00 price target on the stock. Fox Advisors raised their price target on shares of Seagate Technology from $245.00 to $270.00 in a research report on Wednesday, October 29th. Finally, Robert W. Baird upped their price objective on Seagate Technology from $188.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and an average target price of $293.13.

Seagate Technology 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.