Insight Wealth Strategies LLC Has $8 Million Stock Holdings in Seagate Technology Holdings PLC $STX

Key Points

• Insight Wealth Strategies LLC increased its stake in Seagate Technology Holdings PLC by 30.1% in the second quarter, owning approximately 55,136 shares worth nearly $8 million.
• Seagate Technology recently declared a quarterly dividend of $0.72 per share, with an annualized yield of 1.5%, signaling a healthy return for shareholders.
• Analysts have set a consensus price target of $158.11 for Seagate Technology, with fourteen analysts rating it as a Buy, reflecting positive market sentiment towards the stock.

Insight Wealth Strategies LLC grew its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 30.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,136 shares of the data storage provider's stock after buying an additional 12,762 shares during the period. Seagate Technology makes up approximately 1.0% of Insight Wealth Strategies LLC's holdings, making the stock its 25th biggest position. Insight Wealth Strategies LLC's holdings in Seagate Technology were worth $7,997,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In related news, insider James Ci Lee sold 3,509 shares of the business's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $154.74, for a total transaction of $542,982.66. Following the completion of the transaction, the insider owned 1,288 shares in the company, valued at $199,305.12. The trade was a 73.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jay L. Geldmacher sold 2,500 shares of Seagate Technology stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $150.50, for a total value of $376,250.00. Following the sale, the director directly owned 352 shares of the company's stock, valued at approximately $52,976. This trade represents a 87.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,078 shares of company stock worth $8,561,503 over the last ninety days. 0.81% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

STX has been the topic of a number of recent analyst reports. Rosenblatt Securities boosted their target price on shares of Seagate Technology from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Wedbush reaffirmed an "outperform" rating and set a $140.00 price objective on shares of Seagate Technology in a research report on Wednesday, May 21st. Bank of America upped their price objective on Seagate Technology from $145.00 to $165.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Morgan Stanley upped their price objective on Seagate Technology from $167.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, Robert W. Baird increased their target price on shares of Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Fourteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $158.11.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $195.99 on Friday. The stock has a fifty day moving average price of $159.75 and a 200-day moving average price of $121.71. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $199.24. The firm has a market cap of $41.74 billion, a PE ratio of 28.95, a P/E/G ratio of 1.21 and a beta of 1.53.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The company's revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter last year, the company posted $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, equities analysts anticipate that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology declared that its board has authorized a share repurchase program on Thursday, May 22nd that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the data storage provider to reacquire up to 21.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Seagate Technology Announces Dividend

The business 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 $0.72 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.88 annualized dividend and a dividend yield of 1.5%. Seagate Technology's dividend payout ratio (DPR) is 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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