Handelsbanken Fonder AB Cuts Position in Seagate Technology Holdings plc (NASDAQ:STX)

Handelsbanken Fonder AB cut its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 11.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,658 shares of the data storage provider’s stock after selling 11,240 shares during the quarter. Handelsbanken Fonder AB’s holdings in Seagate Technology were worth $7,825,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Foundations Investment Advisors LLC grew its stake in Seagate Technology by 10.2% during the 3rd quarter. Foundations Investment Advisors LLC now owns 2,299 shares of the data storage provider’s stock worth $252,000 after buying an additional 213 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in Seagate Technology by 3.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock worth $281,000 after buying an additional 89 shares during the last quarter. Signaturefd LLC grew its stake in Seagate Technology by 14.0% during the 3rd quarter. Signaturefd LLC now owns 4,875 shares of the data storage provider’s stock worth $534,000 after buying an additional 600 shares during the last quarter. International Assets Investment Management LLC grew its stake in Seagate Technology by 3,549.7% during the 3rd quarter. International Assets Investment Management LLC now owns 204,493 shares of the data storage provider’s stock worth $22,398,000 after buying an additional 198,890 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in Seagate Technology by 6.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 16,672 shares of the data storage provider’s stock worth $1,826,000 after buying an additional 988 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $102.83, for a total value of $2,056,600.00. Following the completion of the transaction, the chief executive officer now owns 622,497 shares of the company’s stock, valued at approximately $64,011,366.51. This represents a 3.11 % decrease in their position. The transaction 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 stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total value of $76,365.00. Following the transaction, the director now directly owns 6,555 shares of the company’s stock, valued at $667,430.10. The trade was a 10.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,891 shares of company stock valued at $2,146,848. 0.81% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on STX shares. Summit Insights upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Wedbush restated an “outperform” rating and set a $150.00 target price on shares of Seagate Technology in a research note on Wednesday, January 22nd. Bank of America boosted their price target on Seagate Technology from $124.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Rosenblatt Securities boosted their price target on Seagate Technology from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, UBS Group boosted their price target on Seagate Technology from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $122.56.

Seagate Technology Stock Down 1.7 %

Shares of STX stock opened at $100.85 on Friday. The stock has a market cap of $21.35 billion, a PE ratio of 18.44 and a beta of 1.07. Seagate Technology Holdings plc has a 52-week low of $82.31 and a 52-week high of $115.32. The business has a 50-day simple moving average of $95.02 and a 200-day simple moving average of $99.84.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be issued a $0.72 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a yield of 2.86%. Seagate Technology’s payout ratio is 52.65%.

Seagate Technology Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.