VIRGINIA RETIREMENT SYSTEMS ET Al Sells 71,100 Shares of Seagate Technology Holdings PLC $STX

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 22.3% during the third quarter, HoldingsChannel reports. The firm owned 247,300 shares of the data storage provider’s stock after selling 71,100 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Seagate Technology were worth $58,378,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sivia Capital Partners LLC lifted its stake in Seagate Technology by 2.6% in the 3rd quarter. Sivia Capital Partners LLC now owns 1,865 shares of the data storage provider’s stock valued at $440,000 after purchasing an additional 47 shares during the last quarter. Continuum Advisory LLC acquired a new position in shares of Seagate Technology during the third quarter worth $274,000. Pure Financial Advisors LLC acquired a new position in shares of Seagate Technology during the third quarter worth $261,000. Old North State Wealth Management LLC bought a new position in shares of Seagate Technology in the 3rd quarter valued at $278,000. Finally, Annex Advisory Services LLC acquired a new stake in shares of Seagate Technology during the 3rd quarter valued at $235,000. 92.87% of the stock is owned by institutional investors.

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 6,000 shares of the business’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 transaction, the executive vice president directly owned 12,041 shares of the company’s stock, valued at $3,251,070. The trade was a 33.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephanie Tilenius sold 2,046 shares of the company’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 sale, the director owned 12,244 shares in the company, valued at approximately $3,261,924.04. The trade was a 14.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 112,555 shares of company stock valued at $31,032,007. 0.79% of the stock is owned by corporate insiders.

Seagate Technology Stock Performance

Seagate Technology stock opened at $280.08 on Wednesday. The firm has a market cap of $59.81 billion, a price-to-earnings ratio of 35.95, a PEG ratio of 1.10 and a beta of 1.59. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $308.93. The firm has a 50 day moving average price of $269.38 and a two-hundred day moving average price of $208.61.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 24th will be issued 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 annualized dividend and a yield of 1.1%. Seagate Technology’s dividend payout ratio (DPR) is presently 38.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on STX. Evercore ISI upped their target price on Seagate Technology from $160.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Wedbush boosted their price target on Seagate Technology from $260.00 to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Fox Advisors raised their price objective on shares of Seagate Technology from $245.00 to $270.00 in a report on Wednesday, October 29th. The Goldman Sachs Group lifted their target price on shares of Seagate Technology from $170.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, China Renaissance started coverage on shares of Seagate Technology in a report on Friday, December 5th. They set a “buy” rating and a $325.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.