Empirical Asset Management LLC Makes New $1.49 Million Investment in Seagate Technology Holdings PLC $STX

Key Points

• Empirical Asset Management LLC has made a new investment in Seagate Technology Holdings PLC, acquiring 10,298 shares valued at approximately $1.49 million.
• Seagate has recently experienced significant insider selling, with insiders selling a total of 75,620 shares worth over $14 million in the last ninety days.
• Analysts have varying opinions on Seagate, with one Strong Buy, seventeen Buys, and a consensus price target of $227.65.

Empirical Asset Management LLC acquired a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,298 shares of the data storage provider's stock, valued at approximately $1,486,000.

Several other institutional investors and hedge funds also recently made changes to their positions in STX. Harbor Asset Planning Inc. purchased a new stake in shares of Seagate Technology in the second quarter valued at about $27,000. Wayfinding Financial LLC purchased a new stake in shares of Seagate Technology in the first quarter valued at about $31,000. Golden State Wealth Management LLC raised its holdings 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 valued at $39,000 after purchasing an additional 440 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Seagate Technology in the first quarter valued at about $42,000. Finally, Costello Asset Management INC purchased a new stake in shares of Seagate Technology in the first quarter valued at about $47,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Insider Buying and Selling at Seagate Technology

In related news, insider James Ci Lee sold 1,116 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $153.36, for a total transaction of $171,149.76. Following the sale, the insider owned 257 shares of the company's stock, valued at approximately $39,413.52. This represents a 81.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John Christopher Morris sold 377 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $211.26, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 75,620 shares of company stock worth $14,464,056 in the last ninety days. Insiders own 0.79% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on STX. Robert W. Baird increased their target price on shares of Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Zacks Research upgraded shares of Seagate Technology from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 2nd. Sanford C. Bernstein initiated coverage on shares of Seagate Technology in a report on Tuesday, September 16th. They set an "outperform" rating and a $250.00 price objective for the company. Susquehanna raised their price objective on shares of Seagate Technology from $68.00 to $80.00 and gave the stock a "negative" rating in a report on Wednesday, July 30th. Finally, Rosenblatt Securities raised their price objective on shares of Seagate Technology from $200.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $227.65.

Seagate Technology Stock Up 3.0%

Shares of NASDAQ:STX opened at $226.03 on Friday. The firm has a market capitalization of $48.14 billion, a PE ratio of 33.39, a P/E/G ratio of 0.98 and a beta of 1.63. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $264.83. The company has a 50-day moving average price of $196.59 and a two-hundred day moving average price of $144.06.

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 for the quarter, topping analysts' consensus estimates of $2.45 by $0.14. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The company's quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the business earned $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Tuesday, September 30th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.88 annualized dividend and a yield of 1.3%. Seagate Technology's payout ratio is currently 42.54%.

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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