Hanson & Doremus Investment Management Decreases Holdings in Seagate Technology Holdings PLC $STX

Key Points

• Hanson & Doremus Investment Management reduced its stake in Seagate Technology by 3.8%, now holding 41,738 shares worth approximately $6,024,000.
• Several institutions recently adjusted their positions in Seagate Technology, with 92.87% of the stock owned by hedge funds and other institutional investors.
• Analysts have set new price targets for Seagate Technology, with Cantor Fitzgerald raising their target from $175.00 to $280.00, indicating a positive outlook on the stock.

Hanson & Doremus Investment Management trimmed its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,738 shares of the data storage provider's stock after selling 1,670 shares during the quarter. Seagate Technology accounts for approximately 0.8% of Hanson & Doremus Investment Management's holdings, making the stock its 22nd biggest holding. Hanson & Doremus Investment Management's holdings in Seagate Technology were worth $6,024,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Personal CFO Solutions LLC purchased a new stake in Seagate Technology in the 1st quarter worth about $223,000. Amalgamated Bank raised its position in Seagate Technology by 0.8% in the 1st quarter. Amalgamated Bank now owns 29,964 shares of the data storage provider's stock worth $2,545,000 after purchasing an additional 243 shares during the period. Retirement Planning Co of New England Inc. purchased a new stake in Seagate Technology in the 1st quarter worth about $272,000. Alps Advisors Inc. raised its position in Seagate Technology by 10.2% in the 1st quarter. Alps Advisors Inc. now owns 278,831 shares of the data storage provider's stock worth $23,687,000 after purchasing an additional 25,817 shares during the period. Finally, Teacher Retirement System of Texas purchased a new stake in Seagate Technology in the 1st quarter worth about $2,626,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STX has been the topic of a number of recent analyst reports. Cantor Fitzgerald increased their price objective on shares of Seagate Technology from $175.00 to $280.00 and gave the stock an "overweight" rating in a research report on Monday, September 22nd. UBS Group upped their target price on shares of Seagate Technology from $85.00 to $155.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Citigroup upped their target price on shares of Seagate Technology from $167.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Sanford C. Bernstein initiated coverage on shares of Seagate Technology in a research note on Tuesday, September 16th. They issued an "outperform" rating and a $250.00 target price on the stock. Finally, Benchmark upped their target price on shares of Seagate Technology from $165.00 to $250.00 and gave the stock a "buy" rating in a research note on Tuesday, September 16th. Fifteen equities research 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $185.58.

Insider Buying and Selling

In other Seagate Technology 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 sale, the insider directly owned 257 shares in the company, valued at $39,413.52. This trade represents a 81.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $153.75, for a total transaction of $3,075,000.00. Following the completion of the sale, the chief executive officer owned 478,912 shares of the company's stock, valued at approximately $73,632,720. This trade represents a 4.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,935 shares of company stock valued at $12,289,616 over the last quarter. Insiders own 0.79% of the company's stock.

Seagate Technology Stock Performance

NASDAQ STX opened at $217.51 on Monday. The firm's 50 day moving average price is $174.24 and its 200-day moving average price is $130.83. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $231.96. The company has a market cap of $46.32 billion, a PE ratio of 32.13, a P/E/G ratio of 0.98 and a beta of 1.53.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.45 by $0.14. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the firm earned $1.05 earnings per share. The company's quarterly 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. On average, analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be paid 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 dividend yield of 1.3%. Seagate Technology's dividend payout ratio (DPR) is currently 42.54%.

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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