Silver Oak Securities Incorporated Purchases Shares of 2,152 Seagate Technology Holdings PLC $STX

Silver Oak Securities Incorporated acquired a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) in the 3rd quarter, HoldingsChannel reports. The fund acquired 2,152 shares of the data storage provider’s stock, valued at approximately $508,000.

A number of other hedge funds have also made changes to their positions in the business. Golden State Equity Partners lifted its stake in Seagate Technology by 5.3% during the third quarter. Golden State Equity Partners now owns 2,761 shares of the data storage provider’s stock worth $652,000 after purchasing an additional 138 shares during the last quarter. True Wealth Design LLC raised its holdings in Seagate Technology by 665.7% during the third quarter. True Wealth Design LLC now owns 268 shares of the data storage provider’s stock worth $63,000 after purchasing an additional 233 shares in the last quarter. Romano Brothers AND Company lifted its position in shares of Seagate Technology by 0.7% during the 3rd quarter. Romano Brothers AND Company now owns 20,738 shares of the data storage provider’s stock worth $4,867,000 after buying an additional 150 shares during the last quarter. XML Financial LLC acquired a new position in shares of Seagate Technology in the 3rd quarter valued at $200,000. Finally, Accurate Wealth Management LLC grew its position in shares of Seagate Technology by 7.8% in the 3rd quarter. Accurate Wealth Management LLC now owns 1,737 shares of the data storage provider’s stock valued at $410,000 after buying an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Trading Up 4.4%

Shares of STX stock opened at $287.54 on Monday. The company has a market capitalization of $61.41 billion, a P/E ratio of 36.91, a price-to-earnings-growth ratio of 1.13 and a beta of 1.60. The business’s 50 day moving average is $272.64 and its two-hundred day moving average is $211.75. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $308.93.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, December 24th. This represents a $2.96 annualized dividend and a yield of 1.0%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s dividend payout ratio is presently 38.00%.

Analyst Ratings Changes

STX has been the subject of a number of research reports. Rosenblatt Securities boosted their price target on shares of Seagate Technology from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Wedbush upped their target price on Seagate Technology from $260.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Evercore ISI lifted their price target on Seagate Technology from $160.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Susquehanna increased 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. Finally, Barclays raised their target price on shares of Seagate Technology from $200.00 to $240.00 and gave the stock an “equal weight” rating in a research report 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $293.13.

Insider Activity at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $271.03, for a total value of $5,420,600.00. Following the completion of the sale, the chief executive officer owned 445,668 shares in the company, valued at approximately $120,789,398.04. This trade represents a 4.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gianluca Romano sold 54,021 shares of Seagate Technology stock in a transaction dated 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 directly owned 56,293 shares in the company, valued at approximately $16,052,511.88. The trade was a 48.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 112,555 shares of company stock worth $31,032,007 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Seagate Technology Company 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.