Eastern Bank Boosts Position in Seagate Technology Holdings PLC $STX

Eastern Bank boosted its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 5.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,812 shares of the data storage provider's stock after purchasing an additional 3,880 shares during the period. Seagate Technology comprises 1.0% of Eastern Bank's investment portfolio, making the stock its 29th largest position. Eastern Bank's holdings in Seagate Technology were worth $68,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of STX. Retirement Wealth Solutions LLC grew its holdings in shares of Seagate Technology by 70.6% in the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider's stock worth $28,000 after purchasing an additional 12 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider's stock valued at $31,000 after buying an additional 15 shares during the last quarter. WealthCollab LLC grew its holdings in Seagate Technology by 27.4% in the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider's stock worth $36,000 after acquiring an additional 20 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in Seagate Technology in the 4th quarter worth $37,000. Finally, McMillan Office Inc. purchased a new position in shares of Seagate Technology in the first quarter valued at about $39,000. Institutional investors own 92.87% of the company's stock.

Seagate Technology Stock Up 4.8%

Shares of STX traded up $40.60 on Monday, reaching $889.59. The stock had a trading volume of 3,708,403 shares, compared to its average volume of 4,349,312. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. Seagate Technology Holdings PLC has a 12-month low of $209.00 and a 12-month high of $1,145.00. The firm has a market capitalization of $202.28 billion, a price-to-earnings ratio of 63.96 and a beta of 2.06. The company has a 50-day simple moving average of $854.66 and a 200-day simple moving average of $779.45.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.61. The company had revenue of $3.63 billion for the quarter, compared to analysts' expectations of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The firm's revenue for the quarter was up 48.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Sell-side analysts predict that Seagate Technology Holdings PLC will post 35.7 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Thursday, September 24th. Seagate Technology's dividend payout ratio (DPR) is presently 21.33%.

Wall Street Analyst Weigh In

STX has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Rosenblatt Securities boosted their price target on Seagate Technology from $1,300.00 to $1,400.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $1,350.00 price target on shares of Seagate Technology in a research report on Wednesday, July 29th. Susquehanna increased their price objective on Seagate Technology from $775.00 to $875.00 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Finally, Argus lifted their price objective on Seagate Technology from $750.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $986.00.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CFO Gianluca Romano sold 49,984 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $772.16, for a total transaction of $38,595,645.44. Following the completion of the transaction, the chief financial officer owned 70,756 shares of the company's stock, valued at approximately $54,634,952.96. This trade represents a 41.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Mosley sold 97,889 shares of the firm's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $772.14, for a total value of $75,584,012.46. Following the transaction, the chief executive officer owned 378,108 shares of the company's stock, valued at $291,952,311.12. The trade was a 20.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 466,959 shares of company stock valued at $378,840,741. Insiders own 0.51% of the company's stock.

Seagate Technology Company Profile

Seagate Technology Holdings plc is a data storage technology company that designs, manufactures and supplies solutions for storing, managing and accessing digital information. Its product portfolio is centered on hard disk drives (HDDs), including high-capacity drives used in cloud data centers, enterprise environments, surveillance systems, network-attached storage and personal computing.

The company also offers solid-state drives (SSDs), storage systems, external storage products and related services.

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.