Greenwood Capital Associates LLC Reduces Stake in Seagate Technology Holdings PLC $STX

Key Points

• Greenwood Capital Associates LLC reduced its stake in Seagate Technology by 27.5% in the second quarter, now owning 6,397 shares valued at $923,000 after selling 2,421 shares.
• Seagate Technology received favorable ratings from analysts, with Goldman Sachs initiating coverage with a "buy" rating and a target price of $170, while others like Benchmark raised their target to $250, signaling strong growth expectations.
• Seagate recently announced a quarterly dividend of $0.72 per share, which will be paid on October 9th, representing an annual yield of 1.1% and a payout ratio of 42.54%.

Greenwood Capital Associates LLC lowered its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 27.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,397 shares of the data storage provider's stock after selling 2,421 shares during the period. Greenwood Capital Associates LLC's holdings in Seagate Technology were worth $923,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hilltop National Bank purchased a new position in Seagate Technology in the second quarter worth about $1,470,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Seagate Technology by 6.2% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,298 shares of the data storage provider's stock valued at $3,651,000 after buying an additional 1,475 shares during the period. J. Safra Sarasin Holding AG purchased a new position in shares of Seagate Technology during the second quarter valued at approximately $2,585,000. ASR Vermogensbeheer N.V. boosted its position in shares of Seagate Technology by 69.5% during the second quarter. ASR Vermogensbeheer N.V. now owns 19,501 shares of the data storage provider's stock valued at $2,814,000 after buying an additional 7,998 shares during the period. Finally, Vicus Capital purchased a new position in shares of Seagate Technology during the second quarter valued at approximately $204,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on STX shares. The Goldman Sachs Group started coverage on Seagate Technology in a research report on Thursday, July 10th. They set a "buy" rating and a $170.00 target price for the company. Benchmark boosted their target price on Seagate Technology from $165.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday, September 16th. Susquehanna boosted their target price on Seagate Technology from $68.00 to $80.00 and gave the company a "negative" rating in a research report on Wednesday, July 30th. Cantor Fitzgerald boosted their target price on Seagate Technology from $175.00 to $280.00 and gave the company an "overweight" rating in a research report on Monday, September 22nd. Finally, Morgan Stanley boosted their price target on Seagate Technology from $168.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, September 29th. Sixteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $193.32.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $252.79 on Friday. The firm has a market capitalization of $53.84 billion, a price-to-earnings ratio of 37.34, a PEG ratio of 1.14 and a beta of 1.63. The stock has a 50 day moving average price of $183.78 and a 200 day moving average price of $135.66. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $264.83.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, topping analysts' consensus estimates of $2.45 by $0.14. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.Seagate Technology's revenue was up 29.5% on a year-over-year basis. During the same quarter 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 forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.72 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. Seagate Technology's dividend payout ratio is currently 42.54%.

Insider Activity at Seagate Technology

In other Seagate Technology news, Director Jay L. Geldmacher sold 2,500 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $150.50, for a total transaction of $376,250.00. Following the completion of the sale, the director owned 352 shares in the company, valued at $52,976. This represents a 87.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ban Seng Teh sold 3,732 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $193.30, for a total value of $721,395.60. Following the sale, the executive vice president owned 4,172 shares of the company's stock, valued at approximately $806,447.60. This represents a 47.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,935 shares of company stock valued at $14,394,416 over the last 90 days. Insiders own 0.79% of the company's stock.

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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