FARMERS & MERCHANTS TRUST Co OF LONG BEACH Makes New $322,000 Investment in Seagate Technology Holdings PLC $STX

Key Points

• Farmers & Merchants Trust Co of Long Beach has made a new investment in Seagate Technology Holdings PLC, purchasing 2,232 shares valued at approximately $322,000.
• Multiple institutional investors, including JPMorgan Chase & Co. and Wellington Management Group LLP, have significantly increased their stakes in Seagate Technology, reflecting growing confidence in the company.
• Seagate Technology recently declared a quarterly dividend of $0.72 per share, with an ex-dividend date of September 30th, demonstrating its commitment to returning value to shareholders.

FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,232 shares of the data storage provider's stock, valued at approximately $322,000.

A number of other institutional investors have also recently added to or reduced their stakes in STX. JPMorgan Chase & Co. lifted its position in Seagate Technology by 12.9% in the first quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider's stock worth $1,607,321,000 after purchasing an additional 2,161,191 shares during the period. Wellington Management Group LLP increased its holdings in shares of Seagate Technology by 3,339.4% in the first quarter. Wellington Management Group LLP now owns 933,996 shares of the data storage provider's stock valued at $79,343,000 after buying an additional 906,840 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Seagate Technology by 2.7% in the first quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider's stock valued at $2,441,729,000 after buying an additional 769,009 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Seagate Technology in the first quarter valued at $50,792,000. Finally, GAMMA Investing LLC increased its holdings in shares of Seagate Technology by 9,116.6% in the first quarter. GAMMA Investing LLC now owns 257,144 shares of the data storage provider's stock valued at $21,844,000 after buying an additional 254,354 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STX has been the topic of several research reports. Benchmark upped their price target on Seagate Technology from $165.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, September 16th. Robert W. Baird upped their price target on Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Mizuho upped their price target on Seagate Technology from $160.00 to $245.00 and gave the company an "outperform" rating in a report on Friday, September 19th. Cantor Fitzgerald upped their price target on Seagate Technology from $175.00 to $280.00 and gave the company an "overweight" rating in a report on Monday, September 22nd. Finally, TD Cowen boosted their target price on shares of Seagate Technology from $135.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Seagate Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $193.32.

Insiders Place Their Bets

In other news, Director Jay L. Geldmacher sold 2,500 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $150.50, for a total value of $376,250.00. Following the transaction, the director directly owned 352 shares of the company's stock, valued at approximately $52,976. This represents a 87.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $153.75, for a total transaction of $3,075,000.00. Following the completion of the transaction, the chief executive officer directly owned 478,912 shares in the company, valued at $73,632,720. This trade represents a 4.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,935 shares of company stock valued at $9,396,416 in the last three months. Company insiders own 0.79% of the company's stock.

Seagate Technology Stock Up 5.3%

Shares of NASDAQ:STX opened at $229.14 on Tuesday. The company's fifty day moving average is $175.83 and its two-hundred day moving average is $131.82. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $234.12. The company has a market cap of $48.80 billion, a P/E ratio of 33.85, a price-to-earnings-growth ratio of 0.98 and a beta of 1.53.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.14. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the business earned $1.05 EPS. The company's revenue was up 29.5% on a year-over-year basis. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Equities research analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.3%. Seagate Technology's dividend payout ratio is 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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