Abacus FCF Advisors LLC purchased a new stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,105 shares of the data storage provider's stock, valued at approximately $8,786,000. Seagate Technology comprises approximately 1.6% of Abacus FCF Advisors LLC's portfolio, making the stock its 25th largest holding.
Several other hedge funds also recently modified their holdings of STX. Norges Bank bought a new stake in shares of Seagate Technology in the 4th quarter valued at about $498,363,000. Soroban Capital Partners LP raised its position in shares of Seagate Technology by 1,468.1% during the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider's stock worth $204,602,000 after acquiring an additional 1,327,197 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in 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 increased its position in Seagate Technology by 102.0% during the 4th 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 period. Finally, National Pension Service raised its holdings in Seagate Technology by 298.7% during the 4th quarter. National Pension Service now owns 997,223 shares of the data storage provider's stock worth $274,625,000 after purchasing an additional 747,102 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.
Seagate Technology Stock Performance
STX opened at $832.56 on Thursday. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. The company's fifty day moving average price is $895.20 and its two-hundred day moving average price is $677.30. Seagate Technology Holdings PLC has a 1-year low of $152.50 and a 1-year high of $1,145.00. The company has a market cap of $188.70 billion, a price-to-earnings ratio of 59.98 and a beta of 2.06.
Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping analysts' consensus estimates of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The firm had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same period in the previous year, the company posted $2.59 EPS. The company's revenue for the quarter was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, analysts expect that Seagate Technology Holdings PLC will post 34.42 EPS for the current fiscal year.
Seagate Technology Dividend Announcement
The company also recently disclosed 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. The ex-dividend date is Thursday, September 24th. This represents a $2.96 annualized dividend and a yield of 0.4%. Seagate Technology's dividend payout ratio (DPR) is 21.33%.
Insiders Place Their Bets
In other Seagate Technology news, CEO William D. Mosley sold 20,657 shares of the business's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $910.48, for a total value of $18,807,785.36. Following the transaction, the chief executive officer owned 320,860 shares of the company's stock, valued at approximately $292,136,612.80. The trade was a 6.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 7,361 shares of the company's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $920.80, for a total value of $6,778,008.80. Following the completion of the transaction, the executive vice president owned 2,931 shares of the company's stock, valued at $2,698,864.80. This trade represents a 71.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 133,650 shares of company stock valued at $116,077,574 in the last 90 days. 0.79% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of Seagate Technology from $1,035.00 to $1,187.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Cantor Fitzgerald reissued an "overweight" rating and set a $1,300.00 target price on shares of Seagate Technology in a research note on Wednesday, July 29th. Fox Advisors lowered shares of Seagate Technology from an "overweight" rating to an "equal weight" rating in a report on Monday, June 22nd. Wedbush upped their price target on shares of Seagate Technology from $825.00 to $1,000.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. Finally, UBS Group increased their price target on Seagate Technology from $515.00 to $545.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Seagate Technology has an average rating of "Moderate Buy" and a consensus target price of $986.00.
Get Our Latest Stock Report on Seagate Technology
About Seagate Technology
(
Free Report)
Seagate Technology NASDAQ: STX is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm's product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.
Seagate's products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.
Further Reading
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