Harbour Capital Advisors LLC Acquires New Holdings in Seagate Technology Holdings PLC $STX

Key Points

• Harbour Capital Advisors LLC has acquired 2,560 shares of Seagate Technology, valued at approximately $389,000, indicating institutional interest in the company.
• Seagate Technology recently announced a quarterly dividend of $0.72 per share, which has an annual yield of 1.3% and will be paid on October 9th.
• The stock has shown strong performance, with a 1-year high of $221.66 and a reported 29.5% revenue increase compared to the same quarter last year.

Harbour Capital Advisors LLC purchased a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,560 shares of the data storage provider's stock, valued at approximately $389,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tidal Investments LLC increased its position in shares of Seagate Technology by 133.1% during the 4th quarter. Tidal Investments LLC now owns 12,681 shares of the data storage provider's stock valued at $1,094,000 after purchasing an additional 7,240 shares during the last quarter. Personal CFO Solutions LLC bought a new position in shares of Seagate Technology during the 1st quarter valued at approximately $223,000. Amalgamated Bank grew its stake in shares of Seagate Technology by 0.8% during the 1st quarter. Amalgamated Bank now owns 29,964 shares of the data storage provider's stock valued at $2,545,000 after acquiring an additional 243 shares during the period. Retirement Planning Co of New England Inc. bought a new position in shares of Seagate Technology during the 1st quarter valued at approximately $272,000. Finally, Alps Advisors Inc. grew its stake in shares of Seagate Technology by 10.2% during the 1st quarter. Alps Advisors Inc. now owns 278,831 shares of the data storage provider's stock valued at $23,687,000 after acquiring an additional 25,817 shares during the period. Hedge funds and other institutional investors own 92.87% of the company's stock.

Insiders Place Their Bets

In other news, EVP Ban Seng Teh sold 3,732 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $193.30, for a total transaction of $721,395.60. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Ci Lee sold 1,116 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $153.36, for a total value of $171,149.76. Following the transaction, the insider directly owned 257 shares in the company, valued at $39,413.52. The trade was a 81.28% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,935 shares of company stock valued at $12,289,616. Insiders own 0.79% of the company's stock.

Seagate Technology Stock Performance

STX stock traded down $2.85 during midday trading on Tuesday, reaching $226.48. The company's stock had a trading volume of 2,543,100 shares, compared to its average volume of 3,886,382. The stock has a fifty day simple moving average of $168.29 and a two-hundred day simple moving average of $127.03. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $231.96. The firm has a market capitalization of $48.23 billion, a price-to-earnings ratio of 33.52, a PEG ratio of 1.28 and a beta of 1.53.

Seagate Technology (NASDAQ:STX - Get Free Report) last released 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. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the firm posted $1.05 earnings per share. The business's revenue was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be paid a $0.72 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.88 dividend on an annualized basis and a yield of 1.3%. Seagate Technology's dividend payout ratio (DPR) is presently 42.54%.

Analyst Upgrades and Downgrades

STX has been the subject of a number of recent research reports. Sanford C. Bernstein initiated coverage on Seagate Technology in a research note on Tuesday, September 16th. They set an "outperform" rating and a $250.00 price objective for the company. Rosenblatt Securities boosted their price objective on Seagate Technology from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. TD Cowen boosted their price objective on Seagate Technology from $135.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Benchmark upped their price target on Seagate Technology from $165.00 to $250.00 and gave the stock a "buy" rating in a research note on Tuesday, September 16th. Finally, Bank of America upped their price target on Seagate Technology from $170.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Fifteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $183.47.

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.