Seagate Technology Holdings PLC $STX Shares Purchased by Chicago Capital LLC

Chicago Capital LLC boosted its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 107.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,415 shares of the data storage provider’s stock after purchasing an additional 20,941 shares during the period. Chicago Capital LLC’s holdings in Seagate Technology were worth $9,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. acquired a new position in shares of Seagate Technology in the 2nd quarter valued at about $27,000. Rakuten Securities Inc. raised its position in Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 168 shares in the last quarter. MTM Investment Management LLC acquired a new position in Seagate Technology in the second quarter valued at approximately $29,000. True Wealth Design LLC boosted its position in 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 purchasing an additional 233 shares in the last quarter. Finally, GoalVest Advisory LLC grew its stake in shares of Seagate Technology by 30.6% during the 2nd quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider’s stock worth $46,000 after purchasing an additional 75 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Ban Seng Teh sold 6,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president owned 12,041 shares of the company’s stock, valued at approximately $3,251,070. This represents a 33.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gianluca Romano sold 54,021 shares of the firm’s 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 completion of the transaction, the chief financial officer directly owned 56,293 shares in the company, valued at $16,052,511.88. This trade represents a 48.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 112,555 shares of company stock valued at $31,032,007. Corporate insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on STX. TD Cowen boosted their target price on shares of Seagate Technology from $270.00 to $340.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Susquehanna upped their price objective on shares of Seagate Technology from $80.00 to $150.00 and gave the stock a “negative” rating in a research report on Wednesday, October 29th. Barclays raised 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. Wells Fargo & Company upped their price target on Seagate Technology from $240.00 to $250.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. Finally, Argus increased their price target on Seagate Technology from $170.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $293.13.

Seagate Technology Stock Performance

Shares of STX opened at $289.83 on Tuesday. The stock has a 50 day moving average price of $273.83 and a 200 day moving average price of $212.86. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $308.93. The stock has a market capitalization of $61.90 billion, a price-to-earnings ratio of 37.21, a PEG ratio of 1.13 and a beta of 1.60.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, December 24th. This is a positive change 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 currently 38.00%.

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.