SeaBridge Investment Advisors LLC Reduces Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

SeaBridge Investment Advisors LLC lessened its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 2.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 37,493 shares of the data storage provider’s stock after selling 903 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Seagate Technology were worth $3,236,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in STX. Sequoia Financial Advisors LLC increased its holdings in Seagate Technology by 3.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock valued at $281,000 after purchasing an additional 89 shares during the last quarter. Affinity Capital Advisors LLC grew its stake in shares of Seagate Technology by 1.5% in the third quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock valued at $725,000 after buying an additional 100 shares in the last quarter. Berkshire Bank raised its holdings in shares of Seagate Technology by 2.6% in the 4th quarter. Berkshire Bank now owns 4,118 shares of the data storage provider’s stock valued at $355,000 after buying an additional 103 shares during the period. My Legacy Advisors LLC lifted its stake in Seagate Technology by 3.9% during the 4th quarter. My Legacy Advisors LLC now owns 3,113 shares of the data storage provider’s stock worth $294,000 after acquiring an additional 118 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in Seagate Technology by 3.7% during the 4th quarter. AdvisorNet Financial Inc now owns 3,377 shares of the data storage provider’s stock valued at $291,000 after acquiring an additional 122 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Seagate Technology

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the sale, the director now directly owns 6,555 shares of the company’s stock, valued at $667,430.10. This represents a 10.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kian Fatt Chong sold 9,182 shares of Seagate Technology stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $105.50, for a total value of $968,701.00. The disclosure for this sale can be found here. Insiders sold a total of 30,073 shares of company stock valued at $3,115,549 in the last three months. 0.81% of the stock is currently owned by company insiders.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $96.36 on Friday. Seagate Technology Holdings plc has a 12 month low of $82.31 and a 12 month high of $115.32. The firm has a market capitalization of $20.40 billion, a P/E ratio of 17.62 and a beta of 1.06. The company’s fifty day moving average price is $95.10 and its 200 day moving average price is $100.17.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s payout ratio is currently 52.65%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on STX shares. Wells Fargo & Company reduced their price target on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. The Goldman Sachs Group decreased their price target on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Evercore ISI upped their price objective on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Morgan Stanley decreased their target price on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. Finally, Wedbush restated an “outperform” rating and set a $150.00 price target on shares of Seagate Technology in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $122.56.

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.