Atlatl Advisers LLC Decreases Holdings in Seagate Technology Holdings PLC $STX

Key Points

• Atlatl Advisers LLC cut its Seagate Technology stake by 21.8% in the fourth quarter, leaving it with 7,919 shares valued at about $2.18 million.
• Wall Street sentiment remains positive, with analysts giving STX a consensus rating of “Moderate Buy” and an average price target of $733.71, while several firms recently raised their targets sharply.
• Seagate reported strong quarterly results, beating earnings and revenue estimates with $4.10 EPS on $3.11 billion in revenue, and the company also announced a quarterly dividend of $0.74 per share.

Atlatl Advisers LLC trimmed its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 21.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,919 shares of the data storage provider's stock after selling 2,212 shares during the period. Atlatl Advisers LLC's holdings in Seagate Technology were worth $2,181,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Salomon & Ludwin LLC lifted its holdings in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock valued at $27,000 after purchasing an additional 51 shares in the last quarter. Armstrong Advisory Group Inc. purchased a new position in shares of Seagate Technology in the fourth quarter worth about $28,000. Concord Wealth Partners purchased a new position in shares of Seagate Technology in the fourth quarter worth about $28,000. Avion Wealth lifted its stake in shares of Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider's stock worth $28,000 after buying an additional 79 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Seagate Technology in the fourth quarter worth about $37,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on STX shares. Susquehanna raised their price target on shares of Seagate Technology from $485.00 to $615.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. TD Cowen raised their price target on shares of Seagate Technology from $500.00 to $850.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Jefferies Financial Group reissued a "hold" rating on shares of Seagate Technology in a research note on Wednesday, February 4th. Robert W. Baird raised their price target on shares of Seagate Technology from $270.00 to $505.00 and gave the stock an "outperform" rating in a research note on Thursday, January 29th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Seagate Technology in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $733.71.

Insider Activity

In related news, CEO William D. Mosley sold 30,000 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the completion of the sale, the chief executive officer directly owned 339,591 shares in the company, valued at approximately $255,131,322.39. This trade represents a 8.12% 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, CFO Gianluca Romano sold 1,902 shares of the firm's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $770.00, for a total transaction of $1,464,540.00. Following the sale, the chief financial officer owned 40,945 shares of the company's stock, valued at approximately $31,527,650. The trade was a 4.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 142,437 shares of company stock valued at $86,093,575 in the last quarter. Insiders own 0.79% of the company's stock.

Seagate Technology Price Performance

Seagate Technology stock opened at $812.73 on Tuesday. Seagate Technology Holdings PLC has a 12-month low of $108.28 and a 12-month high of $841.31. The stock has a market cap of $182.24 billion, a P/E ratio of 77.11 and a beta of 1.98. The company has a 50-day moving average price of $574.69 and a 200 day moving average price of $416.45. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The firm had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $2.96 billion. During the same period last year, the business earned $1.90 earnings per share. Seagate Technology's revenue was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Sell-side analysts anticipate that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date is Wednesday, June 24th. Seagate Technology's dividend payout ratio (DPR) is presently 28.08%.

Seagate Technology Profile

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.

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