Boothbay Fund Management LLC Increases Holdings in Seagate Technology Holdings PLC $STX

Boothbay Fund Management LLC lifted its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 5.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 99,584 shares of the data storage provider’s stock after purchasing an additional 4,946 shares during the quarter. Boothbay Fund Management LLC’s holdings in Seagate Technology were worth $14,373,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in STX. Nuveen LLC bought a new stake in shares of Seagate Technology during the first quarter valued at about $17,058,000. Public Sector Pension Investment Board boosted its position in shares of Seagate Technology by 6.9% in the first quarter. Public Sector Pension Investment Board now owns 32,862 shares of the data storage provider’s stock valued at $2,792,000 after acquiring an additional 2,135 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Seagate Technology by 4.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 25,600 shares of the data storage provider’s stock valued at $2,175,000 after acquiring an additional 1,100 shares in the last quarter. Kovitz Investment Group Partners LLC increased its holdings in Seagate Technology by 1,673.5% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 119,872 shares of the data storage provider’s stock worth $10,183,000 after acquiring an additional 113,113 shares during the period. Finally, Aberdeen Group plc increased its holdings in Seagate Technology by 125.2% during the 1st quarter. Aberdeen Group plc now owns 158,006 shares of the data storage provider’s stock worth $13,290,000 after acquiring an additional 87,855 shares during the period. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Trading Down 6.6%

STX opened at $287.64 on Friday. The stock has a market capitalization of $61.43 billion, a P/E ratio of 36.92, a PEG ratio of 1.20 and a beta of 1.59. The stock has a 50-day moving average price of $254.10 and a 200-day moving average price of $193.98. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $308.93.

Seagate Technology Increases Dividend

The company also recently announced 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. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 24th. Seagate Technology’s payout ratio is currently 36.97%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CFO Gianluca Romano sold 54,021 shares of Seagate Technology 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 transaction, the chief financial officer directly owned 56,293 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer directly owned 445,668 shares of the company’s stock, valued at $120,789,398.04. This trade represents a 4.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 132,932 shares of company stock valued at $36,109,652. 0.79% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Cantor Fitzgerald raised their price target on shares of Seagate Technology from $280.00 to $400.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. The Goldman Sachs Group increased their price objective on Seagate Technology from $170.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Barclays boosted their target price on Seagate Technology from $200.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. Wedbush raised their price target on Seagate Technology from $260.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Finally, BNP Paribas Exane cut their price objective on Seagate Technology from $240.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.