Valeo Financial Advisors LLC Makes New Investment in Seagate Technology Holdings PLC $STX

Valeo Financial Advisors LLC acquired a new position in Seagate Technology Holdings PLC (NASDAQ:STX) in the second quarter, HoldingsChannel reports. The firm acquired 2,533 shares of the data storage provider’s stock, valued at approximately $366,000.

Other institutional investors also recently bought and sold shares of the company. Harbor Asset Planning Inc. bought a new stake in Seagate Technology in the 2nd quarter worth $27,000. Rakuten Securities Inc. raised its holdings in Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 168 shares in the last quarter. MTM Investment Management LLC purchased a new position in shares of Seagate Technology during the second quarter valued at about $29,000. GoalVest Advisory LLC raised its stake 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 buying an additional 75 shares in the last quarter. Finally, Trust Co. of Toledo NA OH purchased a new stake in Seagate Technology in the second quarter worth about $57,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STX has been the subject of a number of research reports. BNP Paribas Exane decreased 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. Mizuho increased their price target on shares of Seagate Technology from $245.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Fox Advisors lifted their price target on shares of Seagate Technology from $245.00 to $270.00 in a research report on Wednesday, October 29th. Barclays upped their price objective on shares of Seagate Technology from $200.00 to $240.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. Finally, Citigroup lifted their target price on shares of Seagate Technology from $275.00 to $320.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. Two research 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $293.13.

Insider Activity

In other news, Director Stephanie Tilenius sold 2,046 shares of Seagate Technology stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $266.41, for a total value of $545,074.86. Following the completion of the sale, the director directly owned 12,244 shares in the company, valued at $3,261,924.04. The trade was a 14.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $249.90, for a total transaction of $4,998,000.00. Following the completion of the sale, the chief executive officer owned 485,668 shares in the company, valued at $121,368,433.20. This represents a 3.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 132,555 shares of company stock valued at $36,030,007. Corporate insiders own 0.79% of the company’s stock.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $292.00 on Friday. The firm’s 50 day moving average price is $258.69 and its 200-day moving average price is $198.65. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $308.93. The company has a market cap of $62.36 billion, a PE ratio of 37.48, a P/E/G ratio of 1.09 and a beta of 1.59.

Seagate Technology Increases Dividend

The firm 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 an increase from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, December 24th. Seagate Technology’s dividend payout ratio (DPR) is presently 36.97%.

Seagate Technology Company Profile

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.