Pacer Advisors Inc. Has $8.97 Million Stock Holdings in Seagate Technology Holdings PLC $STX

Pacer Advisors Inc. lifted its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 26.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,999 shares of the data storage provider’s stock after purchasing an additional 7,859 shares during the quarter. Pacer Advisors Inc.’s holdings in Seagate Technology were worth $8,970,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in Seagate Technology in the second quarter worth $197,027,000. Boston Partners acquired a new stake in shares of Seagate Technology in the second quarter worth about $193,500,000. Soroban Capital Partners LP lifted its position 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 worth $204,602,000 after buying an additional 1,327,197 shares during the last quarter. Maple Rock Capital Partners Inc. boosted its stake in shares of Seagate Technology by 85.3% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 1,131,752 shares of the data storage provider’s stock worth $163,346,000 after acquiring an additional 520,846 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Seagate Technology by 5.0% during the 2nd 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 last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

NASDAQ:STX opened at $286.22 on Monday. The firm’s 50-day moving average is $266.74 and its 200-day moving average is $206.44. The company has a market cap of $61.13 billion, a price-to-earnings ratio of 36.74, a PEG ratio of 1.12 and a beta of 1.59. 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 company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th will be issued a $0.74 dividend. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Wednesday, December 24th. This represents a $2.96 annualized dividend and a yield of 1.0%. Seagate Technology’s payout ratio is currently 38.00%.

Insider Buying and Selling

In related news, Director Stephanie Tilenius sold 2,046 shares of the firm’s stock in a transaction 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 completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gianluca Romano sold 54,021 shares of Seagate Technology stock in a transaction 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 in the company, valued at $16,052,511.88. This represents a 48.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 132,555 shares of company stock worth $36,030,007. 0.79% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on STX shares. Cantor Fitzgerald upped their target price on Seagate Technology from $280.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Rosenblatt Securities boosted their price objective on shares of Seagate Technology from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. 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 research note on Thursday, October 30th. Mizuho boosted their target price on shares of Seagate Technology from $245.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Finally, Wells Fargo & Company upped their price target on shares of Seagate Technology from $240.00 to $250.00 and gave the company an “equal weight” rating in a report on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $293.13.

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.