Allspring Global Investments Holdings LLC Acquires 10,847 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Allspring Global Investments Holdings LLC has increased its stake in Seagate Technology by 21.5%, acquiring an additional 10,847 shares during the second quarter, bringing their total holdings to 61,263 shares valued at approximately $8.89 million.
• Several brokerages have upgraded their target prices for Seagate Technology, with Wedbush raising their price objective from $175 to $260 and Citigroup from $215 to $250, reflecting strong investor confidence.
• Seagate Technology declared a quarterly dividend of $0.72, resulting in an annualized payout of $2.88, with a current dividend yield of 1.3%.

Allspring Global Investments Holdings LLC boosted its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 21.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 61,263 shares of the data storage provider's stock after acquiring an additional 10,847 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Seagate Technology were worth $8,886,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new stake in Seagate Technology during the 1st quarter worth about $31,000. Golden State Wealth Management LLC grew its holdings in Seagate Technology by 2,200.0% during the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock worth $39,000 after acquiring an additional 440 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in Seagate Technology during the 1st quarter worth about $42,000. Costello Asset Management INC bought a new stake in Seagate Technology during the 1st quarter worth about $47,000. Finally, Trust Co. of Toledo NA OH bought a new stake in Seagate Technology during the 2nd quarter worth about $57,000. Institutional investors own 92.87% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on STX. Wedbush increased their price objective on shares of Seagate Technology from $175.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday. Citigroup raised their target price on shares of Seagate Technology from $215.00 to $250.00 and gave the company a "buy" rating in a research note on Monday, October 13th. Loop Capital raised their target price on shares of Seagate Technology from $200.00 to $350.00 and gave the company a "buy" rating in a research note on Thursday. Susquehanna raised 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. Finally, Bank of America raised their target price on shares of Seagate Technology from $215.00 to $255.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $229.40.

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP John Christopher Morris sold 15,347 shares of Seagate Technology stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $195.80, for a total value of $3,004,942.60. Following the transaction, the executive vice president owned 9,843 shares of the company's stock, valued at approximately $1,927,259.40. The trade was a 60.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $249.90, for a total transaction of $4,998,000.00. Following the completion of the sale, the chief executive officer owned 485,668 shares in the company, valued at $121,368,433.20. This trade represents a 3.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,620 shares of company stock valued at $14,464,056. 0.79% of the stock is currently owned by insiders.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $225.40 on Monday. The company has a market capitalization of $48.00 billion, a price-to-earnings ratio of 33.29, a P/E/G ratio of 1.01 and a beta of 1.63. The firm's 50 day simple moving average is $198.09 and its 200 day simple moving average is $145.96. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $264.83.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, beating analysts' consensus estimates of $2.45 by $0.14. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. Seagate Technology's revenue for the quarter was up 29.5% on a year-over-year basis. During the same period last year, the company posted $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Equities research analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

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

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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