Magnus Financial Group LLC Invests $246,000 in Seagate Technology Holdings PLC $STX

Key Points

• Magnus Financial Group LLC invested approximately $246,000 in Seagate Technology Holdings PLC by acquiring 1,706 shares during the 2nd quarter.
• Seagate Technology recently reported $2.59 EPS for the last quarter, exceeding estimates, and declared a quarterly dividend of $0.72 to be paid on October 9th.
• Analysts maintain a generally positive outlook on Seagate, with multiple firms raising their price targets, some even suggesting values as high as $280.00.

Magnus Financial Group LLC acquired a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,706 shares of the data storage provider's stock, valued at approximately $246,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriflex Group Inc. acquired a new stake in shares of Seagate Technology during the 4th quarter valued at about $26,000. Wayfinding Financial LLC acquired a new stake in shares of Seagate Technology during the 1st quarter valued at about $31,000. Bruce G. Allen Investments LLC boosted its position in shares of Seagate Technology by 28.1% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 419 shares of the data storage provider's stock valued at $60,000 after acquiring an additional 92 shares in the last quarter. TD Private Client Wealth LLC boosted its position in shares of Seagate Technology by 30.2% during the 2nd quarter. TD Private Client Wealth LLC now owns 457 shares of the data storage provider's stock valued at $66,000 after acquiring an additional 106 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its position in shares of Seagate Technology by 2,200.0% during the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock valued at $39,000 after acquiring an additional 440 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

Seagate Technology Stock Down 1.1%

Shares of STX stock opened at $217.51 on Friday. The firm has a fifty day moving average of $174.24 and a 200-day moving average of $130.21. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $231.96. The company has a market capitalization of $46.32 billion, a price-to-earnings ratio of 32.13, a P/E/G ratio of 0.99 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 the consensus estimate of $2.45 by $0.14. The firm had revenue of $2.44 billion for 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 company's revenue was up 29.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, equities analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently declared 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 currently 42.54%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Sanford C. Bernstein assumed 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. Bank of America boosted their target price on Seagate Technology from $215.00 to $255.00 and gave the stock a "buy" rating in a report on Wednesday. Cantor Fitzgerald upped their target price 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. Robert W. Baird upped their price objective on Seagate Technology from $120.00 to $188.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, Barclays upped their price objective on Seagate Technology from $180.00 to $200.00 and gave the stock an "equal weight" rating in a report on Thursday, September 11th. Fifteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $185.58.

Insider Transactions at Seagate Technology

In other news, insider James Ci Lee sold 1,116 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $153.36, for a total transaction of $171,149.76. Following the completion of the sale, the insider owned 257 shares in the company, valued at approximately $39,413.52. This trade represents a 81.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ban Seng Teh sold 3,732 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $193.30, for a total transaction of $721,395.60. Following the sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,935 shares of company stock valued at $12,289,616. 0.79% of the stock is owned by company insiders.

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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