Florida Financial Advisors LLC Acquires Shares of 7,269 Seagate Technology Holdings PLC $STX

Key Points

• Florida Financial Advisors LLC disclosed a new fourth-quarter stake in Seagate Technology, buying 7,269 shares worth about $1.999 million.
• Institutional ownership remains heavy, with 92.87% of Seagate stock held by institutions and hedge funds. Several funds increased positions recently, while insiders have been active sellers over the last three months.
• Seagate reported stronger-than-expected quarterly results, with EPS of $4.10 and revenue of $3.11 billion, both above estimates. Analysts have turned more bullish, with multiple target-price increases and an average rating of Moderate Buy.

Florida Financial Advisors LLC acquired a new stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 7,269 shares of the data storage provider's stock, valued at approximately $1,999,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. National Pension Service raised its holdings in Seagate Technology by 28.0% in the 3rd quarter. National Pension Service now owns 250,121 shares of the data storage provider's stock valued at $59,044,000 after acquiring an additional 54,722 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in Seagate Technology in the 4th quarter valued at $23,882,000. New York State Teachers Retirement System raised its holdings in Seagate Technology by 5.0% in the 4th quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider's stock valued at $51,510,000 after acquiring an additional 8,991 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Seagate Technology by 1.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider's stock valued at $142,874,000 after acquiring an additional 6,028 shares in the last quarter. Finally, Praxis Investment Management Inc. raised its holdings in Seagate Technology by 56.5% in the 4th quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider's stock valued at $1,822,000 after acquiring an additional 2,389 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Seagate Technology

In related news, Director Stephanie Tilenius sold 1,580 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $766.61, for a total transaction of $1,211,243.80. Following the sale, the director owned 10,664 shares in the company, valued at $8,175,129.04. The trade was a 12.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James Ci Lee sold 697 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $741.17, for a total value of $516,595.49. Following the sale, the executive vice president owned 324 shares in the company, valued at $240,139.08. This represents a 68.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 122,437 shares of company stock worth $78,398,375 over the last three months. 0.79% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Evercore lifted their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the company an "outperform" rating in a report on Tuesday, May 12th. TD Cowen boosted their price target on Seagate Technology from $500.00 to $850.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Argus boosted their price target on Seagate Technology from $450.00 to $750.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Mizuho boosted their price target on Seagate Technology from $565.00 to $700.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Finally, UBS Group boosted their price target on Seagate Technology from $515.00 to $545.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $746.63.

Seagate Technology Price Performance

Seagate Technology stock opened at $879.80 on Monday. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. Seagate Technology Holdings PLC has a 52 week low of $116.28 and a 52 week high of $905.39. The stock has a market capitalization of $197.28 billion, a P/E ratio of 83.47 and a beta of 2.04. The stock has a fifty day moving average of $612.03 and a 200-day moving average of $432.99.

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 analysts' consensus estimates of $3.51 by $0.59. The company had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.Seagate Technology's revenue was up 44.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, sell-side analysts expect that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company 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. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. Seagate Technology's payout ratio is currently 28.08%.

Seagate Technology Company 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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