Bell Bank Sells 15,232 Shares of Seagate Technology Holdings PLC $STX

Bell Bank lessened its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 21.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,353 shares of the data storage provider’s stock after selling 15,232 shares during the quarter. Seagate Technology comprises about 0.6% of Bell Bank’s investment portfolio, making the stock its 21st biggest holding. Bell Bank’s holdings in Seagate Technology were worth $13,303,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Relyea Zuckerberg Hanson LLC purchased a new stake in Seagate Technology in the third quarter worth approximately $219,000. Silver Oak Securities Incorporated bought a new position in shares of Seagate Technology during the 3rd quarter valued at $508,000. Golden State Equity Partners boosted its stake in shares of Seagate Technology by 5.3% in the 3rd quarter. Golden State Equity Partners now owns 2,761 shares of the data storage provider’s stock worth $652,000 after buying an additional 138 shares during the last quarter. True Wealth Design LLC boosted its stake in shares of Seagate Technology by 665.7% in the 3rd quarter. True Wealth Design LLC now owns 268 shares of the data storage provider’s stock worth $63,000 after buying an additional 233 shares during the last quarter. Finally, Romano Brothers AND Company grew its holdings in shares of Seagate Technology by 0.7% in the third quarter. Romano Brothers AND Company now owns 20,738 shares of the data storage provider’s stock worth $4,867,000 after acquiring an additional 150 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Seagate Technology news, EVP Ban Seng Teh sold 6,000 shares of Seagate Technology stock in a transaction that occurred on 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 sale, the executive vice president owned 12,041 shares of the company’s stock, valued at $3,251,070. The trade was a 33.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kian Fatt Chong sold 7,078 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $272.14, for a total value of $1,926,206.92. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 112,555 shares of company stock valued at $31,032,007. 0.79% of the stock is owned by corporate insiders.

Seagate Technology Stock Performance

STX stock opened at $287.54 on Friday. The company’s fifty day moving average price is $272.64 and its 200-day moving average price is $210.63. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $308.93. The company has a market capitalization of $61.41 billion, a PE ratio of 36.91, a price-to-earnings-growth ratio of 1.08 and a beta of 1.60.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th will be issued a dividend of $0.74 per share. This is a boost 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 dividend yield of 1.0%. Seagate Technology’s payout ratio is currently 38.00%.

Wall Street Analyst Weigh In

STX has been the topic of several research reports. Susquehanna raised their target price on Seagate Technology from $80.00 to $150.00 and gave the stock a “negative” rating in a research report on Wednesday, October 29th. Morgan Stanley raised their target price on shares of Seagate Technology from $270.00 to $337.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 17th. TD Cowen lifted their price target on shares of Seagate Technology from $270.00 to $340.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a research note on Monday. Finally, Fox Advisors raised their price objective on shares of Seagate Technology from $245.00 to $270.00 in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $293.13.

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.