Blue Whale Capital LLP Makes New Investment in Seagate Technology Holdings PLC $STX

Key Points

• Blue Whale Capital LLP bought a new stake of 221,705 shares in Seagate Technology during Q3, valued at approximately $52.34 million, making STX its 13th-largest holding and representing 0.10% of the company.
• Analyst sentiment has turned positive with multiple price-target raises, a consensus rating of "Moderate Buy", and a consensus target price of $447.35 (1 Strong Buy, 18 Buy, 5 Hold).
• Seagate beat expectations, reporting $3.11 EPS vs. $2.77 expected and revenue up 21.5% to $2.83B, and announced a quarterly dividend of $0.74 per share (yield ~0.8%).

Blue Whale Capital LLP bought a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 221,705 shares of the data storage provider's stock, valued at approximately $52,336,000. Seagate Technology comprises about 2.9% of Blue Whale Capital LLP's holdings, making the stock its 13th biggest position. Blue Whale Capital LLP owned 0.10% of Seagate Technology at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Rakuten Securities Inc. boosted its holdings in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock valued at $27,000 after acquiring an additional 168 shares during the period. MTM Investment Management LLC purchased a new stake in Seagate Technology in the second quarter worth $29,000. First Horizon Corp purchased a new stake in Seagate Technology in the third quarter worth $33,000. Raiffeisen Bank International AG bought a new stake in shares of Seagate Technology during the third quarter worth $33,000. Finally, Physician Wealth Advisors Inc. boosted its stake in shares of Seagate Technology by 43.7% during the third quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider's stock valued at $35,000 after purchasing an additional 45 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on STX shares. Citigroup upped their price target on shares of Seagate Technology from $460.00 to $480.00 and gave the stock a "buy" rating in a report on Friday, February 6th. Evercore boosted their price objective on shares of Seagate Technology from $330.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, January 28th. Wells Fargo & Company upped their target price on shares of Seagate Technology from $360.00 to $450.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 28th. Argus raised their target price on shares of Seagate Technology from $300.00 to $450.00 and gave the stock a "buy" rating in a research report on Thursday, January 29th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Seagate Technology in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $447.35.

Seagate Technology Stock Up 2.7%

Shares of Seagate Technology stock opened at $384.29 on Wednesday. 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 cap of $83.80 billion, a price-to-earnings ratio of 43.47, a PEG ratio of 0.83 and a beta of 1.61. The firm's 50-day moving average is $372.13 and its two-hundred day moving average is $287.65. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 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 EPS 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 business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same quarter in the previous year, the business posted $2.03 EPS. The company's quarterly revenue was up 21.5% compared to the same quarter last year. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th will be issued a dividend of $0.74 per share. The ex-dividend date is Wednesday, March 25th. This represents a $2.96 dividend on an annualized basis and a yield of 0.8%. Seagate Technology's dividend payout ratio is currently 33.48%.

Insider Activity at Seagate Technology

In other news, EVP Ban Seng Teh sold 20,195 shares of the business's stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $442.29, for a total value of $8,932,046.55. Following the completion of the transaction, the executive vice president directly owned 3,092 shares of the company's stock, valued at approximately $1,367,560.68. The trade was a 86.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jay L. Geldmacher sold 925 shares of the company's stock in a transaction on Friday, January 30th. The stock was sold at an average price of $448.02, for a total value of $414,418.50. Following the sale, the director owned 223 shares of the company's stock, valued at $99,908.46. This trade represents a 80.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 89,051 shares of company stock valued at $34,430,409 over the last 90 days. 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.

Want to see what other hedge funds are holding STX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seagate Technology Holdings PLC (NASDAQ:STX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.