Confluence Wealth Services Inc. Takes Position in Seagate Technology Holdings PLC $STX

Key Points

• Confluence Wealth Services Inc. acquired 1,650 shares of Seagate Technology Holdings PLC, valued at approximately $238,000, during the second quarter.
• Seagate reported earnings per share of $2.59 for the last quarter, exceeding analyst expectations and marking a 29.5% revenue increase compared to the previous year.
• The company recently announced a quarterly dividend of $0.72 per share, with a payout ratio of 42.54% and a dividend yield of 1.2%.

Confluence Wealth Services Inc. acquired a new position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,650 shares of the data storage provider's stock, valued at approximately $238,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wayfinding Financial LLC acquired a new position in Seagate Technology during the 1st quarter worth about $31,000. Golden State Wealth Management LLC lifted its stake in shares of Seagate Technology by 2,200.0% in the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock worth $39,000 after acquiring an additional 440 shares during the period. Zions Bancorporation National Association UT bought a new stake in Seagate Technology in the first quarter valued at approximately $42,000. Costello Asset Management INC acquired a new stake in Seagate Technology during the 1st quarter valued at approximately $47,000. Finally, Brooklyn Investment Group raised its holdings in Seagate Technology by 41.5% during the 1st quarter. Brooklyn Investment Group now owns 702 shares of the data storage provider's stock worth $60,000 after purchasing an additional 206 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Performance

Shares of NASDAQ:STX opened at $242.83 on Tuesday. The firm has a market cap of $51.72 billion, a P/E ratio of 35.87, a PEG ratio of 1.13 and a beta of 1.63. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $264.83. The business's 50 day simple moving average is $185.62 and its two-hundred day simple moving average is $137.40.

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

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be given 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 dividend yield of 1.2%. Seagate Technology's payout ratio is presently 42.54%.

Analyst Ratings Changes

Several research firms have recently weighed in on STX. Rosenblatt Securities increased their price objective on shares of Seagate Technology from $200.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, September 29th. Morgan Stanley lifted their price objective on Seagate Technology from $168.00 to $265.00 and gave the stock an "overweight" rating in a research report on Monday, September 29th. Cantor Fitzgerald upped their target price on Seagate Technology from $175.00 to $280.00 and gave the company an "overweight" rating in a research report on Monday, September 22nd. Barclays raised their target price on Seagate Technology from $180.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 11th. Finally, The Goldman Sachs Group began coverage on Seagate Technology in a research note on Thursday, July 10th. They issued a "buy" rating and a $170.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $193.32.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $249.90, for a total value of $4,998,000.00. Following the transaction, the chief executive officer owned 485,668 shares in the company, valued at $121,368,433.20. This trade represents a 3.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Christopher Morris sold 377 shares of the company's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $211.26, for a total value of $79,645.02. Following the sale, the executive vice president owned 13,238 shares of the company's stock, valued at $2,796,659.88. This trade represents a 2.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,935 shares of company stock worth $14,394,416 over the last ninety days. 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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