U.S. Capital Wealth Advisors LLC Acquires New Stake in Seagate Technology Holdings PLC $STX

U.S. Capital Wealth Advisors LLC bought a new position in Seagate Technology Holdings PLC (NASDAQ:STX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 26,107 shares of the data storage provider’s stock, valued at approximately $6,163,000.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new stake in Seagate Technology during the 2nd quarter valued at about $197,027,000. Boston Partners purchased a new position in shares of Seagate Technology during the second quarter worth approximately $193,500,000. Soroban Capital Partners LP raised its stake in shares of Seagate Technology by 1,468.1% during the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock valued at $204,602,000 after acquiring an additional 1,327,197 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Seagate Technology by 3,339.4% in the first quarter. Wellington Management Group LLP now owns 933,996 shares of the data storage provider’s stock valued at $79,343,000 after purchasing an additional 906,840 shares during the period. Finally, Maple Rock Capital Partners Inc. grew its stake in Seagate Technology by 85.3% in the second quarter. Maple Rock Capital Partners Inc. now owns 1,131,752 shares of the data storage provider’s stock worth $163,346,000 after purchasing an additional 520,846 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STX has been the topic of several research reports. Evercore ISI raised their price objective on Seagate Technology from $160.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Susquehanna lifted their price objective on Seagate Technology from $80.00 to $150.00 and gave the company a “negative” rating in a report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Seagate Technology in a report on Monday. Loop Capital raised their target price on shares of Seagate Technology from $350.00 to $465.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Finally, Benchmark upped their price target on shares of Seagate Technology from $255.00 to $325.00 and gave the stock a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $293.13.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Kian Fatt Chong sold 7,078 shares of the stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $272.14, for a total value of $1,926,206.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ban Seng Teh sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $270.00, for a total value of $1,620,000.00. Following the completion of the sale, the executive vice president directly owned 12,041 shares of the company’s stock, valued at approximately $3,251,070. This represents a 33.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 132,555 shares of company stock valued at $36,030,007. Corporate insiders own 0.79% of the company’s stock.

Seagate Technology Stock Performance

NASDAQ:STX opened at $296.36 on Friday. The company’s 50-day simple moving average is $260.33 and its 200-day simple moving average is $199.88. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $308.93. The stock has a market capitalization of $63.29 billion, a P/E ratio of 38.04, a P/E/G ratio of 1.14 and a beta of 1.59.

Seagate Technology Increases Dividend

The company 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. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 24th. Seagate Technology’s dividend payout ratio is presently 36.97%.

Seagate Technology 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.