J. Safra Sarasin Holding AG Purchases Shares of 17,908 Seagate Technology Holdings PLC $STX

Key Points

• J. Safra Sarasin Holding AG has acquired 17,908 shares of Seagate Technology Holdings PLC for approximately $2.585 million in the 2nd quarter.
• Insider selling activity has been noted, with EVP John Christopher Morris selling 15,347 shares, reducing his position by 60.92%.
• Seagate Technology recently raised its quarterly dividend to $0.72 per share, with the ex-dividend date set for September 30th.

J. Safra Sarasin Holding AG acquired a new stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 17,908 shares of the data storage provider's stock, valued at approximately $2,585,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of STX. JPMorgan Chase & Co. raised its position in shares of Seagate Technology by 12.9% in the 1st quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider's stock valued at $1,607,321,000 after purchasing an additional 2,161,191 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Seagate Technology by 3,339.4% in the 1st quarter. Wellington Management Group LLP now owns 933,996 shares of the data storage provider's stock valued at $79,343,000 after purchasing an additional 906,840 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Seagate Technology by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider's stock valued at $2,441,729,000 after purchasing an additional 769,009 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of Seagate Technology in the 1st quarter valued at approximately $50,792,000. Finally, GAMMA Investing LLC raised its position in shares of Seagate Technology by 9,116.6% in the 1st quarter. GAMMA Investing LLC now owns 257,144 shares of the data storage provider's stock valued at $21,844,000 after purchasing an additional 254,354 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP John Christopher Morris sold 15,347 shares of Seagate Technology stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $195.80, for a total transaction of $3,004,942.60. Following the completion of the transaction, the executive vice president directly owned 9,843 shares of the company's stock, valued at $1,927,259.40. The trade was a 60.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Ci Lee sold 3,509 shares of Seagate Technology stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $154.74, for a total transaction of $542,982.66. Following the transaction, the insider directly owned 1,288 shares of the company's stock, valued at approximately $199,305.12. This trade represents a 73.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,935 shares of company stock worth $14,394,416. 0.79% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

STX has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on shares of Seagate Technology from $122.00 to $160.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Bank of America increased their price objective on shares of Seagate Technology from $215.00 to $255.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Susquehanna raised their price target on shares of Seagate Technology from $68.00 to $80.00 and gave the stock a "negative" rating in a research report on Wednesday, July 30th. Rosenblatt Securities raised their price target on shares of Seagate Technology from $200.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, September 29th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Seagate Technology in a research report on Saturday, September 27th. Sixteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Seagate Technology currently has an average rating of "Moderate Buy" and a consensus price target of $193.32.

Seagate Technology Price Performance

NASDAQ:STX opened at $252.79 on Friday. The firm has a market cap of $53.84 billion, a price-to-earnings ratio of 37.34, a price-to-earnings-growth ratio of 1.14 and a beta of 1.63. The company has a 50 day moving average price of $183.78 and a 200-day moving average price of $135.66. 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 posted its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.14. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The business's quarterly revenue was up 29.5% on a year-over-year basis. 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. On average, sell-side analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology's payout ratio 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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