Seagate Technology Holdings PLC $STX Stock Position Raised by Prudential Financial Inc.

Prudential Financial Inc. boosted its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 22.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,811 shares of the data storage provider’s stock after purchasing an additional 5,611 shares during the period. Prudential Financial Inc.’s holdings in Seagate Technology were worth $4,447,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Vision Financial Markets LLC purchased a new stake in Seagate Technology in the 2nd quarter worth about $173,000. Nordea Investment Management AB increased its holdings in shares of Seagate Technology by 18.0% in the 2nd quarter. Nordea Investment Management AB now owns 18,422 shares of the data storage provider’s stock valued at $2,632,000 after purchasing an additional 2,808 shares during the period. Central Asset Investments & Management Holdings HK Ltd lifted its position in shares of Seagate Technology by 185.8% in the second 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 purchasing an additional 12,178 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new stake in shares of Seagate Technology during the first quarter worth approximately $272,000. Finally, Allspring Global Investments Holdings LLC grew its position in Seagate Technology by 21.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 61,263 shares of the data storage provider’s stock valued at $8,886,000 after purchasing an additional 10,847 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 6,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 12,041 shares in the company, valued at $3,251,070. This represents a 33.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the sale, the director directly owned 12,244 shares in the company, valued at approximately $3,261,924.04. This represents a 14.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 131,261 shares of company stock worth $34,210,708 in the last quarter. 0.79% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on STX shares. Rosenblatt Securities lifted their target price on shares of Seagate Technology from $250.00 to $270.00 and gave the company a “buy” 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 report on Wednesday, October 29th. Sanford C. Bernstein upped their target price on Seagate Technology from $275.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Benchmark lifted their price target on Seagate Technology from $250.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, The Goldman Sachs Group increased their price objective on Seagate Technology from $170.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $283.41.

Seagate Technology Stock Performance

Shares of STX stock opened at $270.10 on Tuesday. The stock’s 50 day simple moving average is $245.82 and its 200 day simple moving average is $184.24. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $297.88. The company has a market capitalization of $57.68 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 1.17 and a beta of 1.63.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th will be paid a $0.74 dividend. The ex-dividend date is Wednesday, December 24th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.1%. Seagate Technology’s dividend payout ratio is presently 38.00%.

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.