Nisa Investment Advisors LLC Acquires 22,789 Shares of Seagate Technology Holdings PLC $STX

Nisa Investment Advisors LLC increased its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 73.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 54,001 shares of the data storage provider’s stock after purchasing an additional 22,789 shares during the period. Nisa Investment Advisors LLC’s holdings in Seagate Technology were worth $12,786,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of STX. State Street Corp raised its holdings in Seagate Technology by 5.0% during the 2nd quarter. State Street Corp now owns 9,001,365 shares of the data storage provider’s stock worth $1,305,499,000 after buying an additional 432,455 shares during the period. Geode Capital Management LLC increased its position in shares of Seagate Technology by 1.9% during the second quarter. Geode Capital Management LLC now owns 4,567,181 shares of the data storage provider’s stock worth $656,066,000 after acquiring an additional 85,660 shares in the last quarter. Soroban Capital Partners LP increased its position in shares of Seagate Technology by 1,468.1% during the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after acquiring an additional 1,327,197 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Seagate Technology by 1.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,386,524 shares of the data storage provider’s stock worth $200,117,000 after acquiring an additional 20,618 shares during the period. Finally, Norges Bank bought a new stake in Seagate Technology in the 2nd quarter valued at $197,027,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Up 6.9%

STX stock opened at $304.01 on Friday. The company has a market cap of $64.92 billion, a price-to-earnings ratio of 39.03, a P/E/G ratio of 1.11 and a beta of 1.60. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $332.00. The business has a 50 day moving average price of $278.12 and a two-hundred day moving average price of $216.60.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 24th were issued a dividend of $0.74 per share. The ex-dividend date was Wednesday, December 24th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 dividend on an annualized basis and a yield of 1.0%. Seagate Technology’s dividend payout ratio is presently 38.00%.

Wall Street Analysts Forecast Growth

STX has been the subject of a number of research reports. UBS Group lowered their target price on Seagate Technology from $235.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Mizuho increased their price objective on Seagate Technology from $245.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Evercore ISI boosted their target price on Seagate Technology from $160.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Cantor Fitzgerald upped their price target on Seagate Technology from $280.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Fox Advisors lifted their price objective on shares of Seagate Technology from $245.00 to $270.00 in a report on Wednesday, October 29th. Two research 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 stock. According to data from MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and a consensus target price of $293.13.

Insider Activity

In other Seagate Technology news, EVP Ban Seng Teh sold 6,000 shares of the company’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 sale, the executive vice president directly owned 12,041 shares of the company’s stock, valued at approximately $3,251,070. This represents a 33.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total transaction of $204,682.50. Following the completion of the transaction, the director directly owned 5,601 shares of the company’s stock, valued at approximately $1,528,568.91. This trade represents a 11.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 132,555 shares of company stock valued at $36,743,207. 0.79% of the stock is owned by corporate insiders.

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.