3,363 Shares in Seagate Technology Holdings PLC $STX Acquired by Belpointe Asset Management LLC

Key Points

• Belpointe Asset Management LLC acquired 3,363 shares in Seagate Technology Holdings PLC worth approximately $485,000, reflecting growing institutional interest in the company.
• Analysts have significantly raised their price targets for Seagate Technology, with estimates now ranging from $155.00 to $250.00, indicating bullish sentiment towards the stock.
• Seagate Technology recently reported earnings that exceeded analysts' expectations, with a revenue increase of 29.5% compared to the previous year, highlighting its strong financial performance.

Belpointe Asset Management LLC purchased a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,363 shares of the data storage provider's stock, valued at approximately $485,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wayfinding Financial LLC bought a new stake in shares of Seagate Technology during the 1st quarter worth about $31,000. Golden State Wealth Management LLC raised its holdings in Seagate Technology by 2,200.0% in the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock valued at $39,000 after acquiring an additional 440 shares during the period. Zions Bancorporation National Association UT acquired a new stake in Seagate Technology during the first quarter worth approximately $42,000. Costello Asset Management INC bought a new stake in shares of Seagate Technology during the first quarter worth approximately $47,000. Finally, Brooklyn Investment Group grew its position in shares of Seagate Technology by 41.5% in the first quarter. Brooklyn Investment Group now owns 702 shares of the data storage provider's stock valued at $60,000 after purchasing an additional 206 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on STX. Citigroup lifted their price target on Seagate Technology from $167.00 to $215.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Barclays increased their price objective on Seagate Technology from $180.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 11th. UBS Group boosted their target price on shares of Seagate Technology from $85.00 to $155.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Benchmark raised their price target on shares of Seagate Technology from $165.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday, September 16th. Finally, Rosenblatt Securities lifted their price objective on shares of Seagate Technology from $200.00 to $250.00 and gave the stock a "buy" rating in a research note on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Seagate Technology presently has a consensus rating of "Moderate Buy" and an average price target of $198.58.

Seagate Technology Stock Down 1.2%

Shares of STX stock opened at $221.70 on Friday. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $264.83. The business has a fifty day simple moving average of $189.90 and a 200 day simple moving average of $139.52. The company has a market cap of $47.22 billion, a P/E ratio of 32.75, a P/E/G ratio of 1.00 and a beta of 1.63.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, topping analysts' consensus estimates of $2.45 by $0.14. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The firm had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.40 billion. During the same quarter in the prior year, the business earned $1.05 earnings per share. The business's revenue for the quarter was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, equities research analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Seagate Technology's dividend payout ratio (DPR) is presently 42.54%.

Insider Buying and Selling

In related news, EVP Ban Seng Teh sold 5,905 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $155.00, for a total value of $915,275.00. Following the completion of the sale, the executive vice president directly owned 6,147 shares in the company, valued at $952,785. This represents a 49.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jay L. Geldmacher sold 2,500 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $150.50, for a total value of $376,250.00. Following the completion of the sale, the director owned 352 shares in the company, valued at $52,976. This trade represents a 87.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,210 shares of company stock valued at $14,146,016 over the last three months. Insiders own 0.79% of the company's stock.

Seagate Technology 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.

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