Vinva Investment Management Ltd Buys New Shares in Seagate Technology Holdings PLC $STX

Vinva Investment Management Ltd bought a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,420 shares of the data storage provider’s stock, valued at approximately $484,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Harbor Asset Planning Inc. purchased a new position in shares of Seagate Technology during the 2nd quarter worth about $27,000. MTM Investment Management LLC acquired a new position in Seagate Technology during the second quarter worth approximately $29,000. GoalVest Advisory LLC raised its stake in Seagate Technology by 30.6% during the second 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. Trust Co. of Toledo NA OH purchased a new position in Seagate Technology during the second quarter worth approximately $57,000. Finally, Bruce G. Allen Investments LLC boosted its holdings in shares of Seagate Technology by 28.1% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 419 shares of the data storage provider’s stock valued at $60,000 after purchasing an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling

In other news, CFO Gianluca Romano sold 54,021 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $285.16, for a total value 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 approximately $16,052,511.88. This represents a 48.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ban Seng Teh sold 6,000 shares of the firm’s stock in a transaction on 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 sale, the executive vice president directly owned 12,041 shares of the company’s stock, valued at approximately $3,251,070. The trade was a 33.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 131,261 shares of company stock valued at $34,210,708 over the last three months. Company insiders own 0.79% of the company’s stock.

Seagate Technology Price Performance

Shares of STX opened at $276.60 on Friday. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $297.88. The stock’s 50-day moving average is $245.01 and its two-hundred day moving average is $182.55. The stock has a market cap 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th will be issued a $0.74 dividend. The ex-dividend date is Wednesday, December 24th. This represents a $2.96 dividend on an annualized basis and a yield of 1.1%. 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%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on STX shares. Fox Advisors upped their price objective on Seagate Technology from $245.00 to $270.00 in a report on Wednesday, October 29th. Wells Fargo & Company boosted their price target on Seagate Technology from $240.00 to $250.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 29th. Robert W. Baird upped their price target on Seagate Technology from $188.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Barclays lifted their price objective on Seagate Technology from $200.00 to $240.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Finally, Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.