Apollon Wealth Management LLC Grows Stake in Seagate Technology Holdings PLC $STX

Key Points

• Apollon Wealth Management LLC increased its stake in Seagate Technology by 13.6%, owning 14,048 shares worth approximately $2,028,000 as of its latest SEC filing.
• Analysts have a positive outlook for Seagate Technology, with Zacks upgrading the stock to a "strong-buy" rating and price targets from various firms ranging from $188.00 to $265.00.
• Seagate recently announced a quarterly dividend of $0.72 per share, marking an annualized yield of 1.3%.

Apollon Wealth Management LLC raised its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 13.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,048 shares of the data storage provider's stock after acquiring an additional 1,678 shares during the period. Apollon Wealth Management LLC's holdings in Seagate Technology were worth $2,028,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of STX. Salvus Wealth Management LLC lifted its holdings in shares of Seagate Technology by 2.0% during the second quarter. Salvus Wealth Management LLC now owns 3,416 shares of the data storage provider's stock valued at $493,000 after purchasing an additional 68 shares in the last quarter. Moody National Bank Trust Division raised its stake in shares of Seagate Technology by 2.0% in the second quarter. Moody National Bank Trust Division now owns 4,625 shares of the data storage provider's stock worth $668,000 after buying an additional 89 shares during the period. Bruce G. Allen Investments LLC raised its stake in shares of Seagate Technology by 28.1% in the second quarter. Bruce G. Allen Investments LLC now owns 419 shares of the data storage provider's stock worth $60,000 after buying an additional 92 shares during the period. TD Private Client Wealth LLC raised its stake in shares of Seagate Technology by 30.2% in the second quarter. TD Private Client Wealth LLC now owns 457 shares of the data storage provider's stock worth $66,000 after buying an additional 106 shares during the period. Finally, Old Port Advisors raised its stake in shares of Seagate Technology by 0.3% in the second quarter. Old Port Advisors now owns 35,658 shares of the data storage provider's stock worth $5,147,000 after buying an additional 123 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on STX shares. Zacks Research raised Seagate Technology from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 2nd. Morgan Stanley raised their price objective on Seagate Technology from $168.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, September 29th. Mizuho raised their price objective on Seagate Technology from $160.00 to $245.00 and gave the stock an "outperform" rating in a research note on Friday, September 19th. Robert W. Baird lifted their target price on Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company lifted their target price on Seagate Technology from $122.00 to $160.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $198.58.

Seagate Technology Trading Down 3.3%

Shares of STX opened at $214.38 on Monday. The business's 50 day moving average is $191.09 and its 200 day moving average is $141.13. The company has a market capitalization of $45.66 billion, a PE ratio of 31.67, a price-to-earnings-growth ratio of 0.96 and a beta of 1.63. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $264.83.

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

Seagate Technology Dividend Announcement

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

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, insider James Ci Lee sold 3,509 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $154.74, for a total transaction of $542,982.66. Following the completion of the transaction, the insider owned 1,288 shares in the company, valued at $199,305.12. This trade represents a 73.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ban Seng Teh sold 5,905 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $155.00, for a total value of $915,275.00. Following the transaction, the executive vice president owned 6,147 shares of the company's stock, valued at $952,785. This represents a 49.00% 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 worth $14,146,016 over the last three months. 0.79% of the stock is owned by company insiders.

Seagate Technology Company 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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