Bell Bank Lowers Stock Position in Seagate Technology Holdings PLC $STX

Key Points

• Bell Bank reduced its shareholding in Seagate Technology by 11.8% during Q2, now owning 71,585 shares valued at $10.33 million, representing 0.5% of its total holdings.
• Several hedge funds have entered new positions in Seagate, with the majority of the stock (92.87%) owned by institutional investors as of the latest reports.
• Recent analyst upgrades have seen significant increases in price targets for Seagate Technology, with Mizuho setting a new target at $245 and Benchmark at $250, reflecting a bullish sentiment on the stock.

Bell Bank cut its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 11.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,585 shares of the data storage provider's stock after selling 9,585 shares during the period. Seagate Technology accounts for about 0.5% of Bell Bank's holdings, making the stock its 29th biggest position. Bell Bank's holdings in Seagate Technology were worth $10,332,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ameriflex Group Inc. purchased a new position in shares of Seagate Technology during the fourth quarter worth approximately $26,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Seagate Technology during the fourth quarter worth $27,000. Wayfinding Financial LLC acquired a new stake in shares of Seagate Technology during the first quarter worth $31,000. Bruce G. Allen Investments LLC lifted its holdings in shares of Seagate Technology by 28.1% during the second quarter. Bruce G. Allen Investments LLC now owns 419 shares of the data storage provider's stock worth $60,000 after purchasing an additional 92 shares during the period. Finally, Golden State Wealth Management LLC lifted its holdings 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 worth $39,000 after purchasing an additional 440 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on STX shares. Mizuho increased their price target on Seagate Technology from $160.00 to $245.00 and gave the stock an "outperform" rating in a report on Friday. Benchmark increased their price target on Seagate Technology from $165.00 to $250.00 and gave the stock a "buy" rating in a report on Tuesday. Rosenblatt Securities increased their price target on Seagate Technology from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Susquehanna increased their price target on Seagate Technology from $68.00 to $80.00 and gave the stock a "negative" rating in a report on Wednesday, July 30th. Finally, Sanford C. Bernstein started coverage on Seagate Technology in a report on Tuesday. They set an "outperform" rating and a $250.00 price target for the company. Fifteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $177.95.

Seagate Technology Stock Performance

Seagate Technology stock opened at $221.23 on Friday. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $221.66. The business has a fifty day moving average of $166.69 and a two-hundred day moving average of $125.54. The company has a market cap of $47.12 billion, a P/E ratio of 32.68, a price-to-earnings-growth ratio of 1.25 and a beta of 1.53.

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

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology's payout ratio is 42.54%.

Insider Buying and Selling at Seagate Technology

In other news, EVP John Christopher Morris sold 15,347 shares of Seagate Technology stock in a transaction on Friday, September 12th. The stock was sold at an average price of $195.80, for a total transaction of $3,004,942.60. Following the completion of the transaction, the executive vice president owned 9,843 shares of the company's stock, valued at $1,927,259.40. The trade was a 60.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jay L. Geldmacher sold 2,500 shares of Seagate Technology stock in a transaction on Wednesday, August 6th. The stock was 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 of the company's stock, valued at $52,976. This trade represents a 87.66% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,935 shares of company stock worth $12,289,616. Insiders own 0.79% of the company's stock.

About Seagate Technology

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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