CCM Investment Advisers LLC Has $22.28 Million Stock Position in Seagate Technology Holdings PLC $STX

Key Points

• CCM Investment Advisers LLC reduced its stake in Seagate Technology by 1.5%, holding 154,333 shares valued at approximately $22.3 million, representing 2.4% of their investment portfolio.
• Seagate's latest earnings report for the second quarter showed earnings per share of $2.59, surpassing expectations and marking a 29.5% increase in revenue year-over-year.
• The company also announced a quarterly dividend of $0.72 per share, with a payout ratio of 42.54%, set to be paid on October 9th.

CCM Investment Advisers LLC cut its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 154,333 shares of the data storage provider's stock after selling 2,301 shares during the period. Seagate Technology accounts for about 2.4% of CCM Investment Advisers LLC's investment portfolio, making the stock its 12th biggest holding. CCM Investment Advisers LLC owned 0.07% of Seagate Technology worth $22,275,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in STX. Waverly Advisors LLC bought a new position in shares of Seagate Technology in the fourth quarter valued at $226,000. Sunbelt Securities Inc. grew its position in shares of Seagate Technology by 66.4% in the 4th quarter. Sunbelt Securities Inc. now owns 1,253 shares of the data storage provider's stock valued at $108,000 after acquiring an additional 500 shares during the period. Forum Financial Management LP increased its stake in shares of Seagate Technology by 35.9% during the 4th quarter. Forum Financial Management LP now owns 4,222 shares of the data storage provider's stock worth $364,000 after purchasing an additional 1,115 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Seagate Technology by 10.5% in the 4th quarter. Mackenzie Financial Corp now owns 19,770 shares of the data storage provider's stock valued at $1,706,000 after purchasing an additional 1,877 shares during the period. Finally, Ascent Group LLC lifted its stake in Seagate Technology by 4.2% in the 4th quarter. Ascent Group LLC now owns 11,947 shares of the data storage provider's stock valued at $1,031,000 after purchasing an additional 477 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Trading Down 0.5%

NASDAQ STX opened at $228.13 on Wednesday. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $231.96. The firm has a market capitalization of $48.58 billion, a price-to-earnings ratio of 33.70, a P/E/G ratio of 1.32 and a beta of 1.53. The firm's 50 day simple moving average is $169.87 and its 200 day simple moving average is $127.73.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.40 billion. During the same period in the prior year, the company earned $1.05 earnings per share. The company's quarterly revenue was up 29.5% on a year-over-year basis. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, equities research analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

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

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP John Christopher Morris sold 15,347 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $195.80, for a total value of $3,004,942.60. Following the sale, the executive vice president owned 9,843 shares in the company, valued at $1,927,259.40. This trade represents a 60.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider James Ci Lee sold 3,509 shares of the business's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $154.74, for a total transaction of $542,982.66. Following the sale, the insider directly owned 1,288 shares in the company, valued at approximately $199,305.12. The trade was a 73.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,935 shares of company stock valued at $12,289,616. 0.79% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on STX shares. Bank of America boosted their price target on Seagate Technology from $170.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Cantor Fitzgerald boosted their target price on Seagate Technology from $175.00 to $280.00 and gave the stock an "overweight" rating in a report on Monday. Robert W. Baird raised their price target on Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. TD Cowen upped their price objective on shares of Seagate Technology from $135.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Sanford C. Bernstein initiated coverage on shares of Seagate Technology in a research note on Tuesday, September 16th. They set an "outperform" rating and a $250.00 target price for the company. Fifteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $183.47.

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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