Institute for Wealth Management LLC. Takes $351,000 Position in Seagate Technology Holdings PLC $STX

Key Points

• Institute for Wealth Management LLC has acquired a stake in Seagate Technology Holdings PLC, purchasing 2,435 shares valued at approximately $351,000.
• Seagate reported earnings of $2.59 per share for the last quarter, surpassing expectations and showcasing a 29.5% year-over-year revenue increase.
• The company recently declared a quarterly dividend of $0.72 per share, representing an annualized yield of 1.1%.

Institute for Wealth Management LLC. acquired a new stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,435 shares of the data storage provider's stock, valued at approximately $351,000.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Seagate Technology by 2.7% in the first quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider's stock valued at $2,441,729,000 after acquiring an additional 769,009 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Seagate Technology by 12.9% in the first quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider's stock valued at $1,607,321,000 after acquiring an additional 2,161,191 shares in the last quarter. Invesco Ltd. raised its stake in shares of Seagate Technology by 3.6% in the first quarter. Invesco Ltd. now owns 2,861,418 shares of the data storage provider's stock valued at $243,077,000 after acquiring an additional 99,884 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Seagate Technology by 0.8% in the first quarter. Royal Bank of Canada now owns 1,628,941 shares of the data storage provider's stock valued at $138,378,000 after acquiring an additional 12,424 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Seagate Technology by 4.5% in the first quarter. Deutsche Bank AG now owns 1,181,460 shares of the data storage provider's stock valued at $100,365,000 after acquiring an additional 50,699 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Performance

Shares of STX stock opened at $254.74 on Friday. The stock's 50-day moving average is $181.74 and its two-hundred day moving average is $134.53. The firm has a market cap of $54.25 billion, a price-to-earnings ratio of 37.63, a PEG ratio of 1.15 and a beta of 1.63. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $264.83.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.14. The company 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 business's quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, research analysts predict that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Announces Dividend

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

Insider Activity

In related news, EVP John Christopher Morris sold 15,347 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $195.80, for a total transaction of $3,004,942.60. Following the transaction, the executive vice president owned 9,843 shares of the company's stock, valued at $1,927,259.40. This trade represents a 60.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider James Ci Lee sold 3,509 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $154.74, for a total value of $542,982.66. Following the transaction, the insider directly owned 1,288 shares in the company, valued at approximately $199,305.12. This represents a 73.15% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,935 shares of company stock valued at $9,396,416. Insiders own 0.79% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on STX shares. Wells Fargo & Company increased their price objective on Seagate Technology from $122.00 to $160.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Sanford C. Bernstein started coverage on Seagate Technology in a report on Tuesday, September 16th. They issued an "outperform" rating and a $250.00 target price on the stock. Cantor Fitzgerald increased their target price on Seagate Technology from $175.00 to $280.00 and gave the company an "overweight" rating in a report on Monday, September 22nd. The Goldman Sachs Group started coverage on Seagate Technology in a report on Thursday, July 10th. They issued a "buy" rating and a $170.00 target price on the stock. Finally, Susquehanna increased their target price on Seagate Technology from $68.00 to $80.00 and gave the company a "negative" rating in a report on Wednesday, July 30th. Fifteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Seagate Technology has an average rating of "Moderate Buy" and a consensus price target of $193.32.

About Seagate Technology

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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