Evolve Private Wealth LLC lifted its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 238.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,859 shares of the data storage provider's stock after buying an additional 2,718 shares during the quarter. Evolve Private Wealth LLC's holdings in Seagate Technology were worth $1,512,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of the stock. Integrated Wealth Concepts LLC grew its holdings in 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 purchasing an additional 4,499 shares during the period. Sivia Capital Partners LLC bought a new stake in Seagate Technology in the second quarter valued at $262,000. Cerity Partners LLC raised its holdings in shares of Seagate Technology by 25.8% during the second quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider's stock valued at $5,294,000 after purchasing an additional 7,517 shares during the period. Sei Investments Co. raised its holdings in shares of Seagate Technology by 64.8% during the second quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider's stock valued at $1,233,000 after purchasing an additional 3,358 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Seagate Technology by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider's stock worth $18,458,000 after purchasing an additional 462 shares in the last quarter. Institutional investors own 92.87% of the company's stock.
Insider Activity
In other news, CEO William D. Mosley sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total value of $22,538,700.00. Following the transaction, the chief executive officer owned 339,591 shares in the company, valued at $255,131,322.39. The trade was a 8.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the company'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 value of $6,540,691.84. Following the completion of the transaction, the executive vice president directly owned 3,691 shares of the company's stock, valued at approximately $3,016,580.48. This represents a 68.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 141,069 shares of company stock worth $107,161,712 in the last quarter. 0.79% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several analysts have recently commented on the company. Cantor Fitzgerald raised their target price on Seagate Technology from $700.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. Susquehanna upped their price target on Seagate Technology from $485.00 to $615.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Citigroup increased their price target on Seagate Technology from $740.00 to $1,150.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Morgan Stanley raised their price objective on Seagate Technology from $767.00 to $1,035.00 and gave the company an "overweight" rating in a research note on Monday, June 15th. Finally, China Renaissance boosted their price objective on Seagate Technology from $802.00 to $983.00 in a report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $831.79.
Read Our Latest Stock Report on STX
Seagate Technology Stock Performance
NASDAQ STX opened at $1,094.04 on Tuesday. The company has a fifty day moving average price of $781.00 and a 200-day moving average price of $510.69. The firm has a market cap of $245.32 billion, a price-to-earnings ratio of 103.80 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. Seagate Technology Holdings PLC has a 1 year low of $130.92 and a 1 year high of $1,145.00.
Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period last year, the firm earned $1.90 earnings per share. The firm's 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. As a group, equities research analysts predict that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.
Seagate Technology Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. Seagate Technology's dividend payout ratio (DPR) is currently 28.08%.
About Seagate Technology
(
Free Report)
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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