Fifth Third Bancorp Acquires 4,813 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Fifth Third Bancorp increased its holdings in Seagate Technology by 13.6%, acquiring an additional 4,813 shares during the second quarter, bringing their total to 40,262 shares worth approximately $5.81 million.
• Seagate Technology has declared a quarterly dividend of $0.72, representing an annualized dividend of $2.88 and a yield of 1.3%, scheduled to be paid on October 9th.
• Analyst ratings for Seagate Technology show a consensus of "Moderate Buy" with a target price averaging $185.58, reflecting optimism from multiple investment firms.

Fifth Third Bancorp grew its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 13.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,262 shares of the data storage provider's stock after buying an additional 4,813 shares during the period. Fifth Third Bancorp's holdings in Seagate Technology were worth $5,811,000 at the end of the most recent quarter.

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

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $153.75, 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 represents a 4.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ban Seng Teh sold 3,732 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $193.30, for a total transaction of $721,395.60. Following the completion of the sale, the executive vice president owned 4,172 shares in the company, valued at $806,447.60. This represents a 47.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,935 shares of company stock worth $12,289,616 in the last ninety days. Insiders own 0.79% of the company's stock.

Seagate Technology Price Performance

NASDAQ STX opened at $219.85 on Friday. The business has a fifty day moving average price of $172.87 and a two-hundred day moving average price of $129.31. The stock has a market capitalization of $46.82 billion, a PE ratio of 32.47, a PEG ratio of 1.29 and a beta of 1.53. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $231.96.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, topping analysts' consensus estimates of $2.45 by $0.14. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The company had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.40 billion. During the same quarter in the previous year, the firm earned $1.05 EPS. Seagate Technology'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. As a group, sell-side analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

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. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Tuesday, September 30th. Seagate Technology's dividend payout ratio (DPR) is presently 42.54%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group initiated coverage on Seagate Technology in a report on Thursday, July 10th. They set a "buy" rating and a $170.00 price objective for the company. TD Cowen upped their price objective on Seagate Technology from $135.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Cantor Fitzgerald lifted their target price on Seagate Technology from $175.00 to $280.00 and gave the stock an "overweight" rating in a report on Monday. Susquehanna boosted their target price on shares of Seagate Technology from $68.00 to $80.00 and gave the company a "negative" rating in a research report on Wednesday, July 30th. Finally, Barclays raised their price target on shares of Seagate Technology from $180.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 11th. Fifteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $185.58.

Seagate Technology Company Profile

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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