Envestnet Portfolio Solutions Inc. Has $736,000 Stock Position in Seagate Technology Holdings PLC $STX

Key Points

• Envestnet Portfolio Solutions increased its Seagate Technology stake by 117.1% in the fourth quarter, ending with 2,673 shares worth about $736,000.
• Wall Street sentiment is broadly positive: analysts have a Moderate Buy consensus on STX, with an average price target of $733.71, and several firms recently raised targets significantly.
• Seagate reported better-than-expected quarterly results, with EPS of $4.10 and revenue of $3.11 billion, while also announcing a quarterly dividend of $0.74 per share.

Envestnet Portfolio Solutions Inc. grew its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 117.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,673 shares of the data storage provider's stock after buying an additional 1,442 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Seagate Technology were worth $736,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in STX. Integrated Wealth Concepts LLC boosted its holdings in shares of Seagate Technology by 168.0% in the first quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider's stock worth $610,000 after buying an additional 4,499 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Seagate Technology in the second quarter worth about $262,000. Cerity Partners LLC boosted its holdings in shares of Seagate Technology by 25.8% in the second quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider's stock worth $5,294,000 after buying an additional 7,517 shares during the period. Sei Investments Co. boosted its holdings in shares of Seagate Technology by 64.8% in the second quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider's stock worth $1,233,000 after buying an additional 3,358 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Seagate Technology by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider's stock worth $18,458,000 after buying an additional 462 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Sanford C. Bernstein raised their target price on shares of Seagate Technology from $620.00 to $1,000.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Argus raised their target price on shares of Seagate Technology from $450.00 to $750.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. TD Cowen raised their target price on shares of Seagate Technology from $500.00 to $850.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Zacks Research upgraded shares of Seagate Technology from a "hold" rating to a "strong-buy" rating in a report on Friday, May 1st. Finally, Susquehanna raised their price target 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. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $733.71.

Seagate Technology Stock Performance

STX stock opened at $812.73 on Tuesday. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. The stock has a market cap of $182.24 billion, a P/E ratio of 77.11 and a beta of 1.98. The firm has a 50 day simple moving average of $574.69 and a 200 day simple moving average of $416.45. Seagate Technology Holdings PLC has a 52 week low of $108.28 and a 52 week high of $841.31.

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

Seagate Technology Dividend Announcement

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

Insider Activity

In related news, CFO Gianluca Romano sold 22,488 shares of the firm'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 transaction, the chief financial officer owned 42,847 shares of the company's stock, valued at approximately $33,173,004.34. This trade represents a 34.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the transaction, the executive vice president directly owned 3,691 shares in the company, valued at approximately $3,016,580.48. The trade was a 68.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 142,437 shares of company stock valued at $86,093,575. 0.79% of the stock is currently owned by company insiders.

Seagate Technology Profile

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.

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