Yeomans Consulting Group Inc. Acquires New Shares in Seagate Technology Holdings PLC $STX

Yeomans Consulting Group Inc. bought a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,764 shares of the data storage provider’s stock, valued at approximately $453,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in STX. Vision Financial Markets LLC bought a new stake in Seagate Technology during the 2nd quarter worth $173,000. Nordea Investment Management AB boosted its stake in shares of Seagate Technology by 18.0% during the second 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 in the last quarter. Central Asset Investments & Management Holdings HK Ltd grew its holdings in shares of Seagate Technology by 185.8% during 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 during the last quarter. Retirement Planning Co of New England Inc. acquired a new position in shares of Seagate Technology in the first quarter valued at approximately $272,000. Finally, Channing Capital Management LLC acquired a new position in shares of Seagate Technology in the second quarter valued at approximately $4,542,000. Institutional investors own 92.87% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Gianluca Romano sold 54,021 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $285.16, for a total transaction of $15,404,628.36. Following the completion of the sale, the chief financial officer owned 56,293 shares of the company’s stock, valued at $16,052,511.88. This trade represents a 48.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ban Seng Teh sold 6,000 shares of the business’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 transaction, the executive vice president owned 12,041 shares in the company, valued at $3,251,070. The trade was a 33.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 132,555 shares of company stock valued at $36,030,007 in the last 90 days. Company insiders own 0.79% of the company’s stock.

Seagate Technology Trading Up 0.9%

Shares of Seagate Technology stock opened at $285.22 on Friday. The business has a 50-day moving average price of $265.52 and a two-hundred day moving average price of $204.26. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $308.93. The company has a market cap of $60.91 billion, a P/E ratio of 36.61, a PEG ratio of 1.12 and a beta of 1.59.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 24th will be paid a dividend of $0.74 per share. 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 payout ratio is 38.00%.

Wall Street Analyst Weigh In

STX has been the subject of several recent research reports. Citigroup upped their price target on shares of Seagate Technology from $275.00 to $320.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Wedbush increased their price objective on Seagate Technology from $260.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Seagate Technology in a research report on Monday. Mizuho upped their price target on Seagate Technology from $245.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Finally, Susquehanna increased their price target on Seagate Technology from $80.00 to $150.00 and gave the company a “negative” rating in a research note on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $293.13.

About Seagate Technology

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.