Crossmark Global Holdings Inc. Buys 1,473 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Crossmark Global Holdings increased its stake in Seagate Technology by 15.9% in the fourth quarter, buying 1,473 additional shares and bringing its total position to 10,724 shares worth about $2.95 million.
• Seagate reported strong quarterly results, with EPS of $4.10 beating estimates and revenue of $3.11 billion topping forecasts; the company also said quarterly revenue rose 44.1% year over year.
• Several analysts raised price targets on STX, and the stock has a consensus “Moderate Buy” rating with an average target price of $709.13, while insiders have also sold shares recently.

Crossmark Global Holdings Inc. raised its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 15.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,724 shares of the data storage provider's stock after acquiring an additional 1,473 shares during the period. Crossmark Global Holdings Inc.'s holdings in Seagate Technology were worth $2,953,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Capital City Trust Co. FL purchased a new stake in shares of Seagate Technology in the fourth quarter worth $312,000. GRIMES & Co WEALTH MANAGEMENT LLC raised its holdings in Seagate Technology by 20.2% in the fourth quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 2,781 shares of the data storage provider's stock worth $766,000 after buying an additional 468 shares during the last quarter. JLB & Associates Inc. purchased a new position in Seagate Technology in the fourth quarter worth about $1,094,000. ASR Vermogensbeheer N.V. raised its holdings in Seagate Technology by 21.0% in the fourth quarter. ASR Vermogensbeheer N.V. now owns 23,471 shares of the data storage provider's stock worth $6,463,000 after buying an additional 4,070 shares during the last quarter. Finally, Crestwood Advisors Group LLC raised its holdings in Seagate Technology by 16.7% in the fourth quarter. Crestwood Advisors Group LLC now owns 1,204 shares of the data storage provider's stock worth $332,000 after buying an additional 172 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Up 6.6%

STX opened at $834.01 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The firm has a 50 day moving average price of $492.12 and a 200-day moving average price of $378.05. Seagate Technology Holdings PLC has a twelve month low of $100.00 and a twelve month high of $841.31. The stock has a market capitalization of $187.01 billion, a price-to-earnings ratio of 79.13 and a beta of 1.98.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The firm had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $2.96 billion. During the same period in the previous year, the company earned $1.90 earnings per share. The firm's quarterly revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Equities research analysts forecast that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology's payout ratio is presently 28.08%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on STX. UBS Group lifted their target price on shares of Seagate Technology from $515.00 to $545.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. Loop Capital lifted their target price on shares of Seagate Technology from $700.00 to $800.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Susquehanna lifted their target price on shares of Seagate Technology from $485.00 to $615.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Seagate Technology in a report on Wednesday, February 4th. Finally, KeyCorp set a $500.00 target price on shares of Seagate Technology in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $709.13.

Insider Activity

In related news, EVP Kian Fatt Chong sold 5,846 shares of the business's stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $416.48, for a total transaction of $2,434,742.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gianluca Romano sold 22,488 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total transaction of $17,410,659.36. Following the sale, the chief financial officer owned 42,847 shares of the company's stock, valued at $33,173,004.34. This trade represents a 34.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 102,723 shares of company stock valued at $53,301,684 over the last three months. Corporate insiders own 0.79% of the company's stock.

About Seagate Technology

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.

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.