Stanley Laman Group Ltd. Trims Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Stanley Laman Group Ltd. lowered its position in Seagate Technology Holdings plc (NASDAQ:STX) by 30.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,596 shares of the data storage provider’s stock after selling 14,904 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Seagate Technology were worth $2,900,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in Seagate Technology by 14.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 11,185 shares of the data storage provider’s stock valued at $966,000 after buying an additional 1,390 shares during the last quarter. Shaker Investments LLC OH purchased a new stake in shares of Seagate Technology during the fourth quarter worth approximately $1,881,000. Community Bank & Trust Waco Texas raised its stake in shares of Seagate Technology by 1.9% during the fourth quarter. Community Bank & Trust Waco Texas now owns 9,975 shares of the data storage provider’s stock worth $861,000 after purchasing an additional 182 shares during the last quarter. Savant Capital LLC raised its stake in shares of Seagate Technology by 20.3% during the fourth quarter. Savant Capital LLC now owns 4,612 shares of the data storage provider’s stock worth $398,000 after purchasing an additional 779 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its stake in shares of Seagate Technology by 3.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 28,173 shares of the data storage provider’s stock worth $2,432,000 after purchasing an additional 818 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Up 1.4 %

STX opened at $99.21 on Thursday. The firm has a market cap of $21.00 billion, a P/E ratio of 18.14 and a beta of 1.07. Seagate Technology Holdings plc has a 52 week low of $82.31 and a 52 week high of $115.32. The business’s fifty day simple moving average is $94.44 and its 200 day simple moving average is $99.63.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend 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

In other news, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $101.82, for a total value of $76,365.00. Following the transaction, the director now directly owns 6,555 shares in the company, valued at $667,430.10. This trade represents a 10.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $102.83, for a total value of $2,056,600.00. Following the completion of the transaction, the chief executive officer now owns 622,497 shares in the company, valued at approximately $64,011,366.51. This trade represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,891 shares of company stock worth $2,146,848. 0.81% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on STX shares. Citigroup upped their price target on Seagate Technology from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Northland Securities reaffirmed an “outperform” rating and set a $160.00 price objective (up previously from $144.00) on shares of Seagate Technology in a report on Wednesday, January 22nd. Barclays upped their price objective on Seagate Technology from $95.00 to $105.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 22nd. Wedbush reaffirmed an “outperform” rating and set a $150.00 price objective on shares of Seagate Technology in a report on Wednesday, January 22nd. Finally, Summit Insights raised Seagate Technology from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.