Commonwealth Equity Services LLC Sells 7,552 Shares of Seagate Technology Holdings PLC $STX

Commonwealth Equity Services LLC decreased its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 8.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 80,637 shares of the data storage provider’s stock after selling 7,552 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Seagate Technology were worth $19,035,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vision Financial Markets LLC purchased a new position in shares of Seagate Technology during the second quarter valued at approximately $173,000. Nordea Investment Management AB lifted its stake in shares of Seagate Technology by 18.0% during the 2nd quarter. Nordea Investment Management AB now owns 18,422 shares of the data storage provider’s stock worth $2,632,000 after acquiring an additional 2,808 shares during the last quarter. Central Asset Investments & Management Holdings HK Ltd lifted its stake in shares of Seagate Technology by 185.8% during the 2nd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 18,734 shares of the data storage provider’s stock worth $2,704,000 after acquiring an additional 12,178 shares during the last quarter. Channing Capital Management LLC purchased a new position in Seagate Technology during the 2nd quarter valued at $4,542,000. Finally, Allspring Global Investments Holdings LLC grew its position in Seagate Technology by 21.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 61,263 shares of the data storage provider’s stock valued at $8,886,000 after acquiring an additional 10,847 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analysts Set New Price Targets

STX has been the subject of a number of recent analyst reports. China Renaissance initiated coverage on shares of Seagate Technology in a research note on Friday, December 5th. They set a “buy” rating and a $325.00 target price for the company. Susquehanna lifted their price objective on shares of Seagate Technology from $80.00 to $150.00 and gave the company a “negative” rating in a report on Wednesday, October 29th. Wells Fargo & Company upped their target price on shares of Seagate Technology from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. The Goldman Sachs Group raised their target price on shares of Seagate Technology from $170.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, Wedbush boosted their price target on Seagate Technology from $260.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and a consensus price target of $293.13.

Seagate Technology Stock Up 6.9%

Shares of NASDAQ:STX opened at $304.01 on Friday. The firm has a 50 day moving average of $278.12 and a 200 day moving average of $216.60. The company has a market capitalization of $64.92 billion, a price-to-earnings ratio of 39.03, a price-to-earnings-growth ratio of 1.11 and a beta of 1.60. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $332.00.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 24th were given a dividend of $0.74 per share. The ex-dividend date of this dividend was Wednesday, December 24th. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 dividend on an annualized basis and a yield of 1.0%. Seagate Technology’s dividend payout ratio is 38.00%.

Insider Buying and Selling

In other news, Director Stephanie Tilenius sold 2,046 shares of the firm’s 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 sale, the director directly owned 12,244 shares in the company, valued at approximately $3,261,924.04. This trade represents a 14.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ban Seng Teh sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $270.00, for a total transaction of $1,620,000.00. Following the transaction, the executive vice president owned 12,041 shares of the company’s stock, valued at approximately $3,251,070. This trade represents a 33.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 132,555 shares of company stock valued at $36,743,207 over the last three months. Corporate insiders own 0.79% of the company’s stock.

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.