Fifth Third Wealth Advisors LLC Invests $303,000 in Seagate Technology Holdings PLC $STX

Key Points

• Fifth Third Wealth Advisors LLC has invested approximately $303,000 in Seagate Technology Holdings PLC by acquiring 2,100 shares during the second quarter.
• Seagate Technology's stock has been positively rated by analysts, with Cantor Fitzgerald raising its price target from $175.00 to $280.00, and maintaining an "overweight" rating.
• The company reported revenue growth of 29.5% year-over-year, with recent earnings per share of $2.59 exceeding the consensus estimate of $2.45.

Fifth Third Wealth Advisors LLC bought a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund bought 2,100 shares of the data storage provider's stock, valued at approximately $303,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new stake in Seagate Technology in the 1st quarter valued at about $31,000. Trust Co. of Toledo NA OH bought a new stake in Seagate Technology in the 2nd quarter valued at about $57,000. Bruce G. Allen Investments LLC raised its stake in Seagate Technology by 28.1% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 419 shares of the data storage provider's stock valued at $60,000 after acquiring an additional 92 shares during the period. TD Private Client Wealth LLC raised its stake in Seagate Technology by 30.2% in the 2nd quarter. TD Private Client Wealth LLC now owns 457 shares of the data storage provider's stock valued at $66,000 after acquiring an additional 106 shares during the period. Finally, Golden State Wealth Management LLC raised its stake in Seagate Technology by 2,200.0% in the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock valued at $39,000 after acquiring an additional 440 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

STX has been the topic of a number of research reports. Cantor Fitzgerald boosted their price objective on Seagate Technology from $175.00 to $280.00 and gave the company an "overweight" rating in a research note on Monday, September 22nd. Bank of America boosted their price objective on Seagate Technology from $215.00 to $255.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Wells Fargo & Company upped their price target on Seagate Technology from $160.00 to $240.00 and gave the company an "equal weight" rating in a research report on Monday. TD Cowen upped their price target on Seagate Technology from $135.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, UBS Group upped their price target on Seagate Technology from $85.00 to $155.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Seagate Technology has a consensus rating of "Moderate Buy" and a consensus target price of $214.89.

Seagate Technology Stock Up 2.4%

Shares of STX opened at $219.51 on Tuesday. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $264.83. The stock has a market cap of $46.75 billion, a PE ratio of 32.42, a P/E/G ratio of 0.96 and a beta of 1.63. The business's 50-day moving average price is $192.39 and its 200-day moving average price is $142.07.

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

Seagate Technology Announces Dividend

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

Insider Buying and Selling

In related news, EVP Ban Seng Teh sold 5,905 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $155.00, for a total value of $915,275.00. Following the transaction, the executive vice president directly owned 6,147 shares in the company, valued at approximately $952,785. This represents a 49.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Christopher Morris sold 15,347 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $195.80, for a total transaction of $3,004,942.60. Following the completion of the transaction, the executive vice president owned 9,843 shares in the company, valued at approximately $1,927,259.40. This trade represents a 60.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,210 shares of company stock valued at $14,146,016 in the last 90 days. 0.79% of the stock is owned by company insiders.

Seagate Technology 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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