Hancock Whitney Corp Grows Stock Holdings in Seagate Technology Holdings PLC $STX

Key Points

• Hancock Whitney Corp increased its stake in Seagate Technology by 67.0%, acquiring an additional 28,262 shares and bringing its total to 70,426 shares valued at nearly $6 million.
• Wall Street analysts have upgraded Seagate Technology's stock ratings, with price targets ranging from $100.00 to $175.00, leading to an average rating of "Moderate Buy."
• Seagate Technology declared a quarterly dividend of $0.72, with an upcoming ex-dividend date on September 30th, which contributes to an annualized yield of 1.6%.

Hancock Whitney Corp raised its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 67.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,426 shares of the data storage provider's stock after purchasing an additional 28,262 shares during the quarter. Hancock Whitney Corp's holdings in Seagate Technology were worth $5,983,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of STX. Ameriflex Group Inc. acquired a new stake in Seagate Technology in the 4th quarter worth about $26,000. Elequin Capital LP purchased a new position in Seagate Technology in the fourth quarter worth approximately $27,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Seagate Technology in the 4th quarter valued at approximately $27,000. Wayfinding Financial LLC acquired a new stake in shares of Seagate Technology during the first quarter worth about $31,000. Finally, Golden State Wealth Management LLC boosted its holdings in Seagate Technology by 2,200.0% in the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock valued at $39,000 after purchasing an additional 440 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. BNP Paribas Exane raised shares of Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 target price on the stock in a report on Friday, May 16th. Cantor Fitzgerald raised Seagate Technology from a "neutral" rating to an "overweight" rating and set a $175.00 price objective for the company in a research note on Wednesday, July 30th. Bank of America upped their price target on Seagate Technology from $145.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. The Goldman Sachs Group assumed coverage on shares of Seagate Technology in a research report on Thursday, July 10th. They issued a "buy" rating and a $170.00 price objective on the stock. Finally, TD Cowen boosted their target price on Seagate Technology from $135.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Fourteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Seagate Technology currently has an average rating of "Moderate Buy" and an average target price of $154.50.

Insiders Place Their Bets

In other news, insider James Ci Lee sold 1,116 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $153.36, for a total value of $171,149.76. Following the completion of the transaction, the insider directly owned 257 shares in the company, valued at approximately $39,413.52. This trade represents a 81.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ban Seng Teh sold 1,724 shares of Seagate Technology stock in a transaction on Monday, August 11th. The stock was sold at an average price of $151.61, for a total transaction of $261,375.64. Following the completion of the transaction, the executive vice president owned 6,147 shares in the company, valued at approximately $931,946.67. The trade was a 21.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,019 shares of company stock worth $16,104,159 in the last quarter. 0.81% of the stock is currently owned by company insiders.

Seagate Technology Stock Performance

Shares of STX stock opened at $176.32 on Thursday. The company has a market capitalization of $37.50 billion, a P/E ratio of 26.04, a price-to-earnings-growth ratio of 1.03 and a beta of 1.53. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $176.49. The company's 50 day moving average price is $153.42 and its two-hundred day moving average price is $117.23.

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 business had revenue of $2.44 billion for 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%.The firm's revenue was up 29.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.05 EPS. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be given a $0.72 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.6%. Seagate Technology's payout ratio is 42.54%.

Seagate Technology declared that its Board of Directors has initiated a stock buyback program on Thursday, May 22nd that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the data storage provider to repurchase up to 21.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

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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