SeaBridge Investment Advisors LLC Sells 2,610 Shares of Seagate Technology Holdings PLC $STX

SeaBridge Investment Advisors LLC lowered its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 9.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,845 shares of the data storage provider’s stock after selling 2,610 shares during the quarter. Seagate Technology comprises about 1.0% of SeaBridge Investment Advisors LLC’s investment portfolio, making the stock its 29th largest position. SeaBridge Investment Advisors LLC’s holdings in Seagate Technology were worth $6,101,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sivia Capital Partners LLC lifted its position in Seagate Technology by 2.6% during the 3rd quarter. Sivia Capital Partners LLC now owns 1,865 shares of the data storage provider’s stock worth $440,000 after buying an additional 47 shares in the last quarter. Lee Johnson Capital Management LLC raised its stake in shares of Seagate Technology by 0.9% in the third quarter. Lee Johnson Capital Management LLC now owns 5,546 shares of the data storage provider’s stock worth $1,309,000 after acquiring an additional 50 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its position in shares of Seagate Technology by 3.8% during the third quarter. Dynamic Advisor Solutions LLC now owns 1,446 shares of the data storage provider’s stock worth $341,000 after purchasing an additional 53 shares in the last quarter. Salvus Wealth Management LLC grew its stake in shares of Seagate Technology by 2.0% during the second quarter. Salvus Wealth Management LLC now owns 3,416 shares of the data storage provider’s stock valued at $493,000 after purchasing an additional 68 shares during the last quarter. Finally, Asset Dedication LLC increased its holdings in shares of Seagate Technology by 9.5% in the second quarter. Asset Dedication LLC now owns 809 shares of the data storage provider’s stock valued at $117,000 after purchasing an additional 70 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Trading Up 14.0%

NASDAQ STX opened at $330.42 on Wednesday. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $332.00. The stock has a 50-day simple moving average of $275.98 and a 200 day simple moving average of $214.27. The company has a market capitalization of $70.56 billion, a PE ratio of 42.42, a P/E/G ratio of 1.13 and a beta of 1.60.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th will be paid a $0.74 dividend. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Wednesday, December 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.9%. Seagate Technology’s dividend payout ratio (DPR) is currently 38.00%.

Analyst Ratings Changes

STX has been the topic of several research reports. TD Cowen upped their price objective on Seagate Technology from $270.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Citigroup boosted their target price on Seagate Technology from $275.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. The Goldman Sachs Group raised their price target on Seagate Technology from $170.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Mizuho lifted their price objective on Seagate Technology from $245.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Finally, Sanford C. Bernstein upped their target price on shares of Seagate Technology from $275.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $293.13.

Insiders Place Their Bets

In other Seagate Technology news, CFO Gianluca Romano sold 54,021 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $285.16, for a total value of $15,404,628.36. Following the sale, the chief financial officer directly owned 56,293 shares in the company, valued at approximately $16,052,511.88. This trade represents a 48.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 completion of the transaction, the executive vice president directly owned 12,041 shares of the company’s stock, valued at $3,251,070. This trade represents 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 worth $36,743,207 over the last ninety days. Company insiders own 0.79% of the company’s stock.

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.