Icon Advisers Inc. Co. Takes Position in Seagate Technology Holdings PLC $STX

Icon Advisers Inc. Co. bought a new position in Seagate Technology Holdings PLC (NASDAQ:STX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 47,494 shares of the data storage provider’s stock, valued at approximately $6,855,000. Seagate Technology comprises 1.6% of Icon Advisers Inc. Co.’s portfolio, making the stock its 7th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STX. Vision Financial Markets LLC acquired a new position in shares of Seagate Technology during the 2nd quarter worth approximately $173,000. Nordea Investment Management AB raised its position 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 purchasing an additional 2,808 shares during the last quarter. Central Asset Investments & Management Holdings HK Ltd lifted its stake in Seagate Technology by 185.8% in the 2nd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 18,734 shares of the data storage provider’s stock valued at $2,704,000 after buying an additional 12,178 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new stake in Seagate Technology in the 1st quarter worth about $272,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Seagate Technology by 21.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 61,263 shares of the data storage provider’s stock worth $8,886,000 after buying an additional 10,847 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Stock Performance

STX opened at $276.60 on Friday. The stock has a market capitalization of $59.07 billion, a PE ratio of 35.51, a P/E/G ratio of 1.17 and a beta of 1.63. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $297.88. The business’s 50 day moving average price is $245.01 and its 200 day moving average price is $182.55.

Seagate Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 24th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.1%. 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. Seagate Technology’s dividend payout ratio is 38.00%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $262.82, for a total transaction of $5,256,400.00. Following the completion of the sale, the chief executive officer directly owned 465,668 shares in the company, valued at $122,386,863.76. This trade represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gianluca Romano sold 54,021 shares of the company’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 owned 56,293 shares in the company, valued at approximately $16,052,511.88. This represents a 48.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 131,261 shares of company stock worth $34,210,708 in the last 90 days. Insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on STX. Wedbush raised their target price on Seagate Technology from $260.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Cantor Fitzgerald lifted their target price on shares of Seagate Technology from $280.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Barclays upped their target price on shares of Seagate Technology from $200.00 to $240.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. Mizuho raised their price target on shares of Seagate Technology from $245.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Finally, TD Cowen upped their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $283.41.

About Seagate Technology

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.