2,444 Seagate Technology Holdings PLC $STX Shares Bought by Envestnet Portfolio Solutions Inc.

Key Points

• Institutional ownership increased: Envestnet Portfolio Solutions raised its Seagate stake by 163.4% to 3,940 shares, while other major institutions also significantly expanded holdings. Institutional investors collectively own 92.87% of the company.
• Analysts remain bullish: Several firms raised their price targets, and Seagate carries a consensus “Moderate Buy” rating with an average target price of $986.
• Strong quarterly performance: Seagate reported adjusted EPS of $5.71 and revenue of $3.63 billion, exceeding estimates, with revenue up 48.5% year over year. The company also declared a quarterly dividend of $0.74 per share.

Envestnet Portfolio Solutions Inc. lifted its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 163.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,940 shares of the data storage provider's stock after buying an additional 2,444 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Seagate Technology were worth $3,802,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its position in Seagate Technology by 2,655.9% in the 2nd quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider's stock valued at $2,329,641,000 after buying an additional 2,326,538 shares during the last quarter. Norges Bank bought a new position in shares of Seagate Technology during the 4th quarter worth approximately $498,363,000. Janus Henderson Group PLC increased its position in shares of Seagate Technology by 3,872.1% in the first quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider's stock valued at $378,985,000 after acquiring an additional 943,170 shares during the last quarter. Deutsche Bank AG raised its position in Seagate Technology by 102.0% during the fourth quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider's stock worth $440,614,000 after acquiring an additional 807,962 shares in the last quarter. Finally, National Pension Service raised its stake in Seagate Technology by 298.7% in the fourth quarter. National Pension Service now owns 997,223 shares of the data storage provider's stock valued at $274,625,000 after buying an additional 747,102 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Zacks Research raised Seagate Technology from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. Wells Fargo & Company boosted their price objective on shares of Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $1,300.00 price objective on shares of Seagate Technology in a research note on Wednesday, July 29th. JPMorgan Chase & Co. lifted their target price on Seagate Technology from $1,095.00 to $1,240.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Finally, TD Cowen boosted their price target on shares of Seagate Technology from $850.00 to $1,000.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $986.00.

Seagate Technology Trading Up 1.2%

Shares of STX opened at $916.83 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. Seagate Technology Holdings PLC has a 1-year low of $209.00 and a 1-year high of $1,145.00. The firm has a market capitalization of $208.48 billion, a price-to-earnings ratio of 66.05 and a beta of 2.06. The firm's 50-day moving average price is $850.97 and its 200-day moving average price is $758.26.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.61. The firm had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business's revenue was up 48.5% on a year-over-year basis. During the same period last year, the business earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Sell-side analysts anticipate that Seagate Technology Holdings PLC will post 35.7 EPS for the current year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Thursday, September 24th. Seagate Technology's dividend payout ratio is presently 21.33%.

Insider Activity at Seagate Technology

In other Seagate Technology news, EVP John Morris sold 9,354 shares of the business's stock in a transaction on Monday, September 21st. The shares were sold at an average price of $877.91, for a total transaction of $8,211,970.14. Following the transaction, the executive vice president owned 22,693 shares in the company, valued at $19,922,411.63. The trade was a 29.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 49,984 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $772.16, for a total value of $38,595,645.44. Following the completion of the sale, the chief financial officer owned 70,756 shares in the company, valued at approximately $54,634,952.96. The trade was a 41.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 466,959 shares of company stock valued at $378,615,011. Corporate insiders own 0.51% of the company's stock.

Seagate Technology Profile

Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.

The company also offers solid-state drives (SSDs), external storage products, storage systems, and related data-management and recovery services.

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