6,823 Shares in Seagate Technology Holdings PLC $STX Bought by Overbrook Management Corp

Key Points

• Overbrook Management initiated a Seagate Technology position by purchasing 6,823 shares worth approximately $6.3 million in the third quarter. Institutional investors collectively own 92.87% of the company.
• Analysts maintain a favorable outlook, with 22 Buy ratings and five Holds producing a consensus “Moderate Buy” rating and an average price target of $986.
• Seagate reported stronger-than-expected quarterly results, including $5.71 in EPS and $3.63 billion in revenue, while its shares recently fell 4.1% to $774.83. Insiders have sold roughly $378.8 million of stock over the past 90 days.

Overbrook Management Corp purchased a new stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,823 shares of the data storage provider's stock, valued at approximately $6,293,000. Seagate Technology comprises approximately 1.0% of Overbrook Management Corp's portfolio, making the stock its 23rd largest holding.

A number of other large investors have also recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in shares of Seagate Technology by 2,655.9% in the second 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 purchasing an additional 2,326,538 shares during the period. Janus Henderson Group PLC lifted its position in shares of Seagate Technology by 3,872.1% during the 1st 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 period. Deutsche Bank AG grew its holdings in Seagate Technology by 102.0% in the fourth quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider's stock valued at $440,614,000 after purchasing an additional 807,962 shares during the last quarter. Amanah Holdings Trust purchased a new position in Seagate Technology during the 4th quarter valued at about $79,801,000. Finally, Swedbank AB grew its holdings in Seagate Technology by 67.6% during the 1st quarter. Swedbank AB now owns 709,160 shares of the data storage provider's stock valued at $277,821,000 after buying an additional 285,949 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Insider Buying and Selling

In related news, EVP John Morris sold 9,354 shares of the firm's stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $877.91, for a total transaction of $8,211,970.14. Following the sale, the executive vice president directly owned 22,693 shares in the company, valued at approximately $19,922,411.63. This trade represents a 29.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 11,002 shares of the company's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $935.60, for a total value of $10,293,471.20. Following the completion of the transaction, the chief executive officer owned 362,108 shares of the company's stock, valued at approximately $338,788,244.80. This represents a 2.95% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 466,959 shares of company stock worth $378,840,741 in the last ninety days. 0.51% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on STX. Rosenblatt Securities boosted their price target on Seagate Technology from $1,300.00 to $1,400.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Fox Advisors downgraded Seagate Technology from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 22nd. Bank of America increased their price objective on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. Susquehanna raised their target price on shares of Seagate Technology from $775.00 to $875.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. Finally, Wedbush upped their price target on shares of Seagate Technology from $825.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $986.00.

Seagate Technology Trading Down 4.1%

Shares of Seagate Technology stock traded down $32.74 during trading hours on Thursday, hitting $774.83. The company's stock had a trading volume of 5,064,411 shares, compared to its average volume of 4,378,703. Seagate Technology Holdings PLC has a 1-year low of $209.00 and a 1-year high of $1,145.00. The business has a fifty day moving average of $858.09 and a 200 day moving average of $788.17. The company has a market capitalization of $176.19 billion, a PE ratio of 55.82 and a beta of 2.06. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56.

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

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th were given a $0.74 dividend. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. Seagate Technology's dividend payout ratio is presently 21.33%.

Key Stories Impacting Seagate Technology

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: AI workloads continue to generate substantial demand for cost-efficient, high-capacity storage, supporting the long-term outlook for Seagate’s enterprise HDD business. Analysts are also comparing Seagate favorably with Western Digital as investors assess which storage stock has more upside. Seagate vs. Western Digital: Which HDD Stock Has More Room to Run?
• Positive Sentiment: Seagate recently delivered stronger-than-expected results, with quarterly revenue rising sharply year over year and earnings exceeding analysts’ estimates. Its next-quarter guidance also points to continued profitability, although investors are now focused on whether supply changes could affect that trajectory.
• Positive Sentiment: The company paid a dividend to shareholders, reinforcing its income appeal and highlighting the potential for shareholder returns alongside its growth exposure. HP, Merck, and Seagate Just Paid Their Shareholders

Seagate Technology Profile

Seagate Technology Holdings plc is a data storage technology company that designs, manufactures and supplies solutions for storing, managing and accessing digital information. Its product portfolio is centered on hard disk drives (HDDs), including high-capacity drives used in cloud data centers, enterprise environments, surveillance systems, network-attached storage and personal computing.

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

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