Inceptionr LLC Boosts Stake in Seagate Technology Holdings PLC $STX

Inceptionr LLC increased its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 195.8% during the second quarter, HoldingsChannel reports. The fund owned 9,570 shares of the data storage provider’s stock after buying an additional 6,335 shares during the period. Inceptionr LLC’s holdings in Seagate Technology were worth $1,381,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. J.W. Cole Advisors Inc. acquired a new position in shares of Seagate Technology during the 2nd quarter worth $280,000. Advisors Asset Management Inc. grew its position in Seagate Technology by 16.6% during the second quarter. Advisors Asset Management Inc. now owns 1,068 shares of the data storage provider’s stock worth $154,000 after buying an additional 152 shares during the period. Steward Partners Investment Advisory LLC grew its position in Seagate Technology by 9.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 13,987 shares of the data storage provider’s stock worth $2,019,000 after buying an additional 1,195 shares during the period. CreativeOne Wealth LLC increased its holdings in Seagate Technology by 7.8% in the second quarter. CreativeOne Wealth LLC now owns 18,389 shares of the data storage provider’s stock valued at $2,654,000 after buying an additional 1,331 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Seagate Technology by 22.3% during the 2nd quarter. Prudential Financial Inc. now owns 30,811 shares of the data storage provider’s stock valued at $4,447,000 after acquiring an additional 5,611 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Buying and Selling

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $262.82, for a total value of $5,256,400.00. Following the completion of the sale, the chief executive officer owned 465,668 shares in the company, valued at $122,386,863.76. The trade was a 4.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John Christopher Morris sold 15,347 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $195.80, for a total transaction of $3,004,942.60. Following the transaction, the executive vice president owned 9,843 shares in the company, valued at approximately $1,927,259.40. The trade was a 60.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 131,261 shares of company stock worth $34,210,708 in the last three months. 0.79% of the stock is currently owned by insiders.

Seagate Technology Trading Up 3.4%

Shares of STX stock opened at $261.89 on Wednesday. The company has a market capitalization of $55.93 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 1.17 and a beta of 1.63. The firm has a 50-day moving average price of $241.61 and a 200 day moving average price of $179.52. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $297.88.

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 given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 1.1%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date is Wednesday, December 24th. Seagate Technology’s dividend payout ratio (DPR) is 38.00%.

Analyst Ratings Changes

STX has been the topic of a number of research reports. Sanford C. Bernstein upped their price target on Seagate Technology from $275.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Fox Advisors upped their target price on Seagate Technology from $245.00 to $270.00 in a report on Wednesday, October 29th. TD Cowen lifted their price target on Seagate Technology from $270.00 to $340.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Wedbush increased their price objective on shares of Seagate Technology from $260.00 to $290.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Finally, Bank of America raised their target price on shares of Seagate Technology from $275.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $283.41.

Seagate Technology Company Profile

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.