Ascent Group LLC Trims Stock Position in Seagate Technology Holdings PLC $STX

Key Points

• Ascent Group LLC reduced its holdings in Seagate Technology by 23.7% in Q2, ending with 8,950 shares valued at approximately $1.29 million.
• Seagate Technology reported a $2.59 EPS for the last quarter, exceeding analysts' expectations of $2.45, with a revenue increase of 29.5% year-over-year.
• The company recently announced a quarterly dividend of $0.72 per share, which will be paid on October 9th, representing an annual yield of 1.1%.

Ascent Group LLC trimmed its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 23.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 8,950 shares of the data storage provider's stock after selling 2,782 shares during the period. Ascent Group LLC's holdings in Seagate Technology were worth $1,292,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STX. Wayfinding Financial LLC acquired a new stake in shares of Seagate Technology during the 1st quarter worth about $31,000. Golden State Wealth Management LLC increased its position in shares of Seagate Technology by 2,200.0% during the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock valued at $39,000 after acquiring an additional 440 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Seagate Technology in the 1st quarter valued at approximately $42,000. Costello Asset Management INC purchased a new stake in shares of Seagate Technology in the 1st quarter valued at approximately $47,000. Finally, Brooklyn Investment Group lifted its holdings in shares of Seagate Technology by 41.5% in the 1st quarter. Brooklyn Investment Group now owns 702 shares of the data storage provider's stock worth $60,000 after acquiring an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Analyst Upgrades and Downgrades

STX has been the topic of a number of research analyst reports. Barclays boosted their target price on Seagate Technology from $180.00 to $200.00 and gave the company an "equal weight" rating in a research report on Thursday, September 11th. Robert W. Baird increased their target price on Seagate Technology from $120.00 to $188.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Bank of America lifted their target price on Seagate Technology from $215.00 to $255.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Wells Fargo & Company boosted their price target on shares of Seagate Technology from $122.00 to $160.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Finally, The Goldman Sachs Group began coverage on shares of Seagate Technology in a research note on Thursday, July 10th. They issued a "buy" rating and a $170.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $193.32.

Seagate Technology Stock Down 0.8%

NASDAQ STX opened at $252.79 on Monday. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $264.83. The firm has a 50 day moving average of $183.78 and a two-hundred day moving average of $136.32. The stock has a market capitalization of $53.84 billion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 1.13 and a beta of 1.63.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results 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. The firm had revenue of $2.44 billion during 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%. The company's revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, equities research analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.72 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.88 annualized dividend and a yield of 1.1%. Seagate Technology's payout ratio is presently 42.54%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, Director Jay L. Geldmacher sold 2,500 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $150.50, for a total value of $376,250.00. Following the transaction, the director directly owned 352 shares in the company, valued at $52,976. This represents a 87.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 5,905 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $155.00, for a total transaction of $915,275.00. Following the completion of the transaction, the executive vice president owned 6,147 shares of the company's stock, valued at approximately $952,785. The trade was a 49.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,935 shares of company stock valued at $14,394,416 over the last three months. 0.79% of the stock is owned by corporate 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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