Avala Global LP Reduces Holdings in Seagate Technology Holdings PLC $STX

Key Points

• Avala Global LP reduced its stake in Seagate by 3.8% in Q3, selling 21,000 shares and holding 533,430 shares (about 0.25% of the company) valued at roughly $125.9 million, making Seagate its fourth-largest holding.
• Seagate beat expectations in the latest quarter with EPS of $3.11 versus $2.77 expected and revenue of $2.83 billion (+21.5% YoY), and set Q3 2026 guidance of $3.20–$3.60 EPS while analysts' consensus target is about $447.
• Insiders have sold a total of 89,051 shares worth $34.43 million over the last 90 days while institutional investors own about 92.87% of the stock; the company also announced a $0.74 quarterly dividend (annualized $2.96, ~0.8% yield).

Avala Global LP cut its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 3.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 533,430 shares of the data storage provider's stock after selling 21,000 shares during the period. Seagate Technology makes up 5.2% of Avala Global LP's holdings, making the stock its 4th biggest holding. Avala Global LP owned 0.25% of Seagate Technology worth $125,921,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. National Pension Service lifted its holdings in shares of Seagate Technology by 28.0% in the third quarter. National Pension Service now owns 250,121 shares of the data storage provider's stock valued at $59,044,000 after purchasing an additional 54,722 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. bought a new stake in Seagate Technology during the third quarter worth $1,864,000. Keystone Investors PTE Ltd. grew its holdings in Seagate Technology by 55.7% during the third quarter. Keystone Investors PTE Ltd. now owns 50,321 shares of the data storage provider's stock worth $11,879,000 after buying an additional 18,000 shares in the last quarter. Estate Counselors LLC purchased a new stake in Seagate Technology in the 3rd quarter valued at $2,557,000. Finally, Vision Financial Markets LLC raised its position in Seagate Technology by 341.7% in the 3rd quarter. Vision Financial Markets LLC now owns 5,300 shares of the data storage provider's stock valued at $1,251,000 after buying an additional 4,100 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Trading Up 2.6%

NASDAQ STX opened at $383.71 on Friday. The business's fifty day moving average is $378.24 and its 200-day moving average is $291.33. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72. The stock has a market capitalization of $83.68 billion, a price-to-earnings ratio of 43.41, a PEG ratio of 0.85 and a beta of 1.61. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $459.84.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same quarter in the prior year, the business earned $2.03 earnings per share. The firm's revenue for the quarter was up 21.5% on a year-over-year basis. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Equities research analysts predict that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, March 25th. Seagate Technology's dividend payout ratio is currently 33.48%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wedbush lifted their price objective on shares of Seagate Technology from $290.00 to $380.00 and gave the stock an "outperform" rating in a report on Friday, January 23rd. Zacks Research raised shares of Seagate Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 17th. Jefferies Financial Group restated a "hold" rating on shares of Seagate Technology in a report on Wednesday, February 4th. Rosenblatt Securities upped their price objective on shares of Seagate Technology from $370.00 to $500.00 and gave the stock a "buy" rating in a research report on Wednesday, January 28th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Seagate Technology in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $447.35.

Insider Activity at Seagate Technology

In related news, EVP James Ci Lee sold 673 shares of Seagate Technology stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $348.85, for a total value of $234,776.05. Following the sale, the executive vice president owned 257 shares of the company's stock, valued at approximately $89,654.45. The trade was a 72.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jay L. Geldmacher sold 925 shares of the company's stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $448.02, for a total value of $414,418.50. Following the completion of the transaction, the director owned 223 shares in the company, valued at approximately $99,908.46. The trade was a 80.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 89,051 shares of company stock worth $34,430,409 over the last 90 days. Corporate insiders own 0.79% of the company's stock.

Seagate Technology Company 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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