Clay Northam Wealth Management LLC Buys New Position in Seagate Technology Holdings PLC $STX

Key Points

• Clay Northam Wealth Management LLC has acquired a new stake in Seagate Technology Holdings PLC, purchasing 1,549 shares valued at approximately $224,000 in the second quarter.
• Seagate recently reported earnings with an EPS of $2.59, exceeding analyst expectations of $2.45, and projected a quarterly revenue increase of 29.5% year-over-year.
• A quarterly dividend of $0.72 has been announced, providing shareholders with an annualized yield of 1.3% as the company continues to maintain a strong institutional ownership of 92.87%.

Clay Northam Wealth Management LLC bought a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,549 shares of the data storage provider's stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Spirepoint Private Client LLC bought a new position in shares of Seagate Technology during the second quarter valued at approximately $207,000. ORG Wealth Partners LLC raised its holdings in shares of Seagate Technology by 207.2% during the second quarter. ORG Wealth Partners LLC now owns 725 shares of the data storage provider's stock valued at $105,000 after acquiring an additional 489 shares in the last quarter. Meridian Investment Counsel Inc. bought a new position in shares of Seagate Technology during the second quarter valued at approximately $327,000. Old Port Advisors raised its holdings in shares of Seagate Technology by 0.3% during the second quarter. Old Port Advisors now owns 35,658 shares of the data storage provider's stock valued at $5,147,000 after acquiring an additional 123 shares in the last quarter. Finally, CX Institutional raised its holdings in shares of Seagate Technology by 66.2% during the second quarter. CX Institutional now owns 2,210 shares of the data storage provider's stock valued at $319,000 after acquiring an additional 880 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

Seagate Technology Trading Down 1.1%

NASDAQ STX opened at $217.51 on Friday. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $231.96. The stock has a market cap of $46.32 billion, a P/E ratio of 32.13, a P/E/G ratio of 0.98 and a beta of 1.53. The stock's fifty day moving average price is $174.24 and its 200-day moving average price is $130.52.

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, topping 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 firm had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.40 billion. During the same period in the prior year, the firm posted $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. As a group, analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

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

Insider Transactions at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $153.75, for a total transaction of $3,075,000.00. Following the sale, the chief executive officer directly owned 478,912 shares of the company's stock, valued at $73,632,720. This trade represents a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John Christopher Morris sold 377 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $211.26, for a total value of $79,645.02. Following the sale, the executive vice president directly owned 13,238 shares in the company, valued at $2,796,659.88. This trade represents a 2.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,935 shares of company stock valued at $12,289,616. 0.79% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on STX. Benchmark upped their price target on Seagate Technology from $165.00 to $250.00 and gave the stock a "buy" rating in a research note on Tuesday, September 16th. Mizuho upped their price target on Seagate Technology from $160.00 to $245.00 and gave the stock an "outperform" rating in a research note on Friday, September 19th. Sanford C. Bernstein began coverage on Seagate Technology in a research note on Tuesday, September 16th. They issued an "outperform" rating and a $250.00 price target on the stock. UBS Group upped their price target on Seagate Technology from $85.00 to $155.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Finally, Bank of America upped their price target on Seagate Technology from $215.00 to $255.00 and gave the stock a "buy" rating in a research note on Wednesday. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Seagate Technology presently has an average rating of "Moderate Buy" and a consensus target price of $185.58.

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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