Deroy & Devereaux Private Investment Counsel Inc. Grows Position in Seagate Technology Holdings PLC $STX

Deroy & Devereaux Private Investment Counsel Inc. raised its position in Seagate Technology Holdings PLC (NASDAQ:STX) by 12.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 138,429 shares of the data storage provider’s stock after acquiring an additional 15,143 shares during the quarter. Seagate Technology makes up about 1.6% of Deroy & Devereaux Private Investment Counsel Inc.’s holdings, making the stock its 16th biggest holding. Deroy & Devereaux Private Investment Counsel Inc. owned about 0.06% of Seagate Technology worth $32,678,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Harbor Asset Planning Inc. purchased a new stake in shares of Seagate Technology during the 2nd quarter worth $27,000. Rakuten Securities Inc. raised its stake in Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after buying an additional 168 shares in the last quarter. MTM Investment Management LLC purchased a new stake in Seagate Technology during the 2nd quarter worth about $29,000. First Horizon Corp acquired a new position in shares of Seagate Technology during the 3rd quarter worth about $33,000. Finally, GoalVest Advisory LLC increased its holdings in shares of Seagate Technology by 30.6% in the 2nd quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider’s stock valued at $46,000 after acquiring an additional 75 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 1,412 shares of Seagate Technology stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $299.31, for a total value of $422,625.72. Following the transaction, the executive vice president directly owned 13,693 shares in the company, valued at approximately $4,098,451.83. This trade represents a 9.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $272.91, for a total value of $204,682.50. Following the sale, the director owned 5,601 shares of the company’s stock, valued at $1,528,568.91. This trade represents a 11.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 132,557 shares of company stock worth $36,847,793 in the last ninety days. Company insiders own 0.79% of the company’s stock.

Seagate Technology Stock Performance

NASDAQ STX opened at $320.32 on Friday. The firm’s fifty day moving average is $282.16 and its two-hundred day moving average is $221.57. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $332.00. The firm has a market cap of $68.41 billion, a PE ratio of 41.12, a P/E/G ratio of 1.22 and a beta of 1.60.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Wednesday, December 24th. This represents a $2.96 annualized dividend and a yield of 0.9%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s dividend payout ratio (DPR) is currently 38.00%.

Analyst Ratings Changes

A number of brokerages recently issued reports on STX. Sanford C. Bernstein upped their price target on Seagate Technology from $275.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Wedbush upped their target price on shares of Seagate Technology from $260.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Susquehanna lifted their price target on shares of Seagate Technology from $80.00 to $150.00 and gave the stock a “negative” rating in a research note on Wednesday, October 29th. Wells Fargo & Company boosted their price target on shares of Seagate Technology from $250.00 to $360.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Fox Advisors upped their price objective on shares of Seagate Technology from $245.00 to $270.00 in a research note on Wednesday, October 29th. Two research 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 given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $314.74.

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.