Prossimo Advisors LLC Purchases New Position in Seagate Technology Holdings PLC $STX

Prossimo Advisors LLC acquired a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,812 shares of the data storage provider’s stock, valued at approximately $262,000.

A number of other institutional investors also recently made changes to their positions in STX. Salvus Wealth Management LLC increased its stake in shares of Seagate Technology by 2.0% during the second quarter. Salvus Wealth Management LLC now owns 3,416 shares of the data storage provider’s stock worth $493,000 after purchasing an additional 68 shares during the period. GoalVest Advisory LLC grew its holdings in Seagate Technology by 30.6% in the 2nd quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider’s stock valued at $46,000 after buying an additional 75 shares in the last quarter. Angeles Wealth Management LLC grew its holdings in Seagate Technology by 2.2% in the 2nd quarter. Angeles Wealth Management LLC now owns 3,485 shares of the data storage provider’s stock valued at $503,000 after buying an additional 76 shares in the last quarter. Bessemer Group Inc. increased its position in Seagate Technology by 3.3% during the 2nd quarter. Bessemer Group Inc. now owns 2,502 shares of the data storage provider’s stock worth $361,000 after buying an additional 81 shares during the period. Finally, Moody National Bank Trust Division lifted its holdings in shares of Seagate Technology by 2.0% during the second quarter. Moody National Bank Trust Division now owns 4,625 shares of the data storage provider’s stock worth $668,000 after buying an additional 89 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Insiders Place Their Bets

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $262.82, for a total value of $5,256,400.00. Following the transaction, the chief executive officer owned 465,668 shares in the company, valued at $122,386,863.76. The trade was a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jay L. Geldmacher sold 1,250 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $269.10, for a total transaction of $336,375.00. Following the completion of the transaction, the director directly owned 1,148 shares of the company’s stock, valued at $308,926.80. This trade represents a 52.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 131,261 shares of company stock valued at $34,210,708 over the last ninety days. 0.79% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on STX shares. UBS Group decreased their price target on shares of Seagate Technology from $235.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 29th. Citigroup boosted their price objective on shares of Seagate Technology from $250.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Cantor Fitzgerald increased their target price on shares of Seagate Technology from $280.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Mizuho lifted their price target on shares of Seagate Technology from $245.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Finally, Wedbush boosted their price target on Seagate Technology from $260.00 to $290.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $283.41.

Seagate Technology Price Performance

NASDAQ STX opened at $276.60 on Monday. The business has a fifty day moving average price of $245.01 and a two-hundred day moving average price of $183.10. The stock has a market capitalization of $59.07 billion, a PE ratio of 35.51, a PEG ratio of 1.17 and a beta of 1.63. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $297.88.

Seagate Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 24th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 1.1%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Wednesday, December 24th. Seagate Technology’s payout ratio is 38.00%.

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.