Allianz Asset Management GmbH Reduces Position in Seagate Technology Holdings PLC $STX

Key Points

• Allianz Asset Management GmbH has reduced its holdings in Seagate Technology by 30.9% during the second quarter, now owning approximately 0.32% of the company, valued at $98.2 million.
• Seagate Technology has reported a 29.5% year-over-year increase in revenue for the last quarter, totaling $2.44 billion, with earnings per share (EPS) exceeding analysts' expectations.
• The company declared a quarterly dividend of $0.72, representing an annualized dividend of $2.88 and a yield of 1.3% as of the last payment date.

Allianz Asset Management GmbH lessened its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 30.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 680,441 shares of the data storage provider's stock after selling 303,833 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.32% of Seagate Technology worth $98,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Personal CFO Solutions LLC purchased a new position in shares of Seagate Technology during the 1st quarter valued at $223,000. Amalgamated Bank lifted its stake in shares of Seagate Technology by 0.8% during the 1st quarter. Amalgamated Bank now owns 29,964 shares of the data storage provider's stock valued at $2,545,000 after buying an additional 243 shares in the last quarter. Retirement Planning Co of New England Inc. purchased a new position in shares of Seagate Technology during the 1st quarter valued at $272,000. Alps Advisors Inc. lifted its stake in shares of Seagate Technology by 10.2% during the 1st quarter. Alps Advisors Inc. now owns 278,831 shares of the data storage provider's stock valued at $23,687,000 after buying an additional 25,817 shares in the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH purchased a new position in shares of Seagate Technology during the 2nd quarter valued at $322,000. Hedge funds and other 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 on Wednesday, October 1st. The shares were sold at an average price of $249.90, for a total value of $4,998,000.00. Following the completion of the transaction, the chief executive officer directly owned 485,668 shares of the company's stock, valued at $121,368,433.20. This trade represents a 3.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jay L. Geldmacher sold 2,500 shares of Seagate Technology stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $150.50, for a total transaction of $376,250.00. Following the completion of the transaction, the director directly owned 352 shares of the company's stock, valued at $52,976. The trade was a 87.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,620 shares of company stock worth $14,464,056. Insiders own 0.79% of the company's stock.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $226.03 on Friday. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $264.83. The company has a market cap of $48.14 billion, a P/E ratio of 33.39, a P/E/G ratio of 0.98 and a beta of 1.63. The firm's fifty day moving average is $196.59 and its two-hundred day moving average is $144.06.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.40 billion. During the same period last year, the company posted $1.05 EPS. The business's revenue was up 29.5% on a year-over-year basis. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th were paid a $0.72 dividend. 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%.

Analysts Set New Price Targets

A number of research firms recently weighed in on STX. TD Cowen lifted their target price on shares of Seagate Technology from $135.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Susquehanna lifted their target price on shares of Seagate Technology from $68.00 to $80.00 and gave the company a "negative" rating in a research note on Wednesday, July 30th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Seagate Technology in a report on Wednesday, October 8th. Bank of America lifted their price target on shares of Seagate Technology from $215.00 to $255.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Finally, Wells Fargo & Company lifted their price target on shares of Seagate Technology from $160.00 to $240.00 and gave the company an "equal weight" rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $227.65.

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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