47,400 Shares in Seagate Technology Holdings PLC $STX Acquired by Oribel Capital Management LP

Oribel Capital Management LP bought a new stake in Seagate Technology Holdings PLC (NASDAQ:STX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 47,400 shares of the data storage provider’s stock, valued at approximately $6,841,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Harbor Asset Planning Inc. bought a new position in shares of Seagate Technology in the second quarter worth $27,000. MTM Investment Management LLC acquired a new stake in Seagate Technology in the second quarter worth about $29,000. GoalVest Advisory LLC lifted its holdings in Seagate Technology by 30.6% in the second quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider’s stock worth $46,000 after purchasing an additional 75 shares during the period. Trust Co. of Toledo NA OH bought a new position in Seagate Technology in the 2nd quarter valued at about $57,000. Finally, Bruce G. Allen Investments LLC raised its position in shares of Seagate Technology by 28.1% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 419 shares of the data storage provider’s stock worth $60,000 after buying an additional 92 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Trading Up 5.0%

NASDAQ:STX opened at $278.79 on Friday. The business’s fifty day moving average price is $249.44 and its 200 day moving average price is $188.17. The firm has a market capitalization of $59.54 billion, a price-to-earnings ratio of 35.79, a PEG ratio of 1.09 and a beta of 1.59. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $297.88.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th will be issued a $0.74 dividend. The ex-dividend date is Wednesday, December 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.1%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s dividend payout ratio is currently 36.97%.

Insiders Place Their Bets

In related 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 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 can be accessed through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $271.03, for a total transaction of $5,420,600.00. Following the completion of the transaction, the chief executive officer owned 445,668 shares in the company, valued at approximately $120,789,398.04. This represents a 4.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 152,011 shares of company stock valued at $39,835,990 over the last ninety days. Insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on STX shares. Sanford C. Bernstein increased their price objective on shares of Seagate Technology from $275.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Loop Capital increased their price target on Seagate Technology from $350.00 to $465.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Cantor Fitzgerald boosted their price objective on Seagate Technology from $280.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. UBS Group decreased their target price on Seagate Technology from $235.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. Finally, TD Cowen lifted their target price on Seagate Technology from $270.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $287.17.

About Seagate Technology

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.