R Squared Ltd Takes $192,000 Position in Seagate Technology Holdings plc (NASDAQ:STX)

R Squared Ltd bought a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) during the fourth quarter, Holdings Channel reports. The fund bought 2,220 shares of the data storage provider’s stock, valued at approximately $192,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Berkshire Bank lifted its holdings in Seagate Technology by 2.6% during the fourth quarter. Berkshire Bank now owns 4,118 shares of the data storage provider’s stock valued at $355,000 after purchasing an additional 103 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Seagate Technology by 49.8% during the 4th quarter. Pacer Advisors Inc. now owns 29,044 shares of the data storage provider’s stock worth $2,507,000 after purchasing an additional 9,656 shares during the last quarter. KBC Group NV lifted its stake in Seagate Technology by 150.1% in the 4th quarter. KBC Group NV now owns 70,290 shares of the data storage provider’s stock valued at $6,066,000 after buying an additional 42,182 shares in the last quarter. Blue Trust Inc. boosted its holdings in Seagate Technology by 42.9% in the 4th quarter. Blue Trust Inc. now owns 3,407 shares of the data storage provider’s stock worth $294,000 after buying an additional 1,022 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC increased its stake in Seagate Technology by 87.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,578 shares of the data storage provider’s stock worth $740,000 after buying an additional 4,014 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Price Performance

Shares of STX stock opened at $99.38 on Thursday. The company has a 50-day moving average of $95.20 and a two-hundred day moving average of $100.27. The firm has a market cap of $21.02 billion, a PE ratio of 18.17 and a beta of 1.06. Seagate Technology Holdings plc has a 1-year low of $82.31 and a 1-year high of $115.32.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be issued a $0.72 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 2.90%. Seagate Technology’s dividend payout ratio (DPR) is presently 52.65%.

Insider Buying and Selling at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.53, for a total value of $1,990,600.00. Following the completion of the transaction, the chief executive officer now owns 642,497 shares in the company, valued at approximately $63,947,726.41. The trade was a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the 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 sale, the director now owns 6,555 shares in the company, valued at approximately $667,430.10. This trade represents a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,073 shares of company stock valued at $5,106,149 over the last quarter. 0.81% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Northland Securities reaffirmed an “outperform” rating and issued a $160.00 price target (up from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. Summit Insights raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Susquehanna raised their price target on shares of Seagate Technology from $65.00 to $68.00 and gave the stock a “negative” rating in a research note on Wednesday, January 22nd. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Morgan Stanley cut their price objective on shares of Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and an average target price of $122.56.

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.