Meridian Investment Counsel Inc. Acquires Shares of 2,269 Seagate Technology Holdings PLC $STX

Key Points

• Meridian Investment Counsel Inc. has acquired 2,269 shares of Seagate Technology Holdings PLC, valued at approximately $327,000, as part of its 2nd quarter investment activities.
• Various institutional investors have increased their stakes in Seagate Technology, resulting in over 92.87% of the company's stock being owned by such entities.
• Seagate Technology recently announced a quarterly dividend of $0.72, which translates to an annualized yield of 1.3%.

Meridian Investment Counsel Inc. acquired a new stake 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 & Exchange Commission. The institutional investor acquired 2,269 shares of the data storage provider's stock, valued at approximately $327,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mackenzie Financial Corp raised its position in shares of Seagate Technology by 10.5% during the 4th quarter. Mackenzie Financial Corp now owns 19,770 shares of the data storage provider's stock worth $1,706,000 after purchasing an additional 1,877 shares during the period. Ameriflex Group Inc. acquired a new stake in shares of Seagate Technology during the 4th quarter worth approximately $26,000. Siemens Fonds Invest GmbH raised its position in shares of Seagate Technology by 116.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 4,392 shares of the data storage provider's stock worth $379,000 after purchasing an additional 2,367 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Seagate Technology by 14.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,511 shares of the data storage provider's stock worth $1,252,000 after purchasing an additional 1,832 shares during the period. Finally, Versant Capital Management Inc raised its position in shares of Seagate Technology by 712.6% during the 1st quarter. Versant Capital Management Inc now owns 967 shares of the data storage provider's stock worth $82,000 after purchasing an additional 848 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Cantor Fitzgerald boosted their price target on 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 raised their price target on Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Bank of America raised their price target on Seagate Technology from $215.00 to $255.00 and gave the company a "buy" rating in a report on Wednesday. TD Cowen increased their price target on Seagate Technology from $135.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Finally, UBS Group increased their price target on Seagate Technology from $85.00 to $155.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Fifteen 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, Seagate Technology presently has an average rating of "Moderate Buy" and a consensus target price of $185.58.

Insiders Place Their Bets

In other news, Director Jay L. Geldmacher sold 2,500 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $150.50, for a total value of $376,250.00. Following the completion of the sale, the director owned 352 shares of the company's stock, valued at $52,976. This trade represents a 87.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $153.75, for a total value of $3,075,000.00. Following the completion of the sale, the chief executive officer directly owned 478,912 shares of the company's stock, valued at approximately $73,632,720. This trade represents a 4.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,935 shares of company stock valued at $12,289,616 over the last quarter. 0.79% of the stock is owned by insiders.

Seagate Technology Stock Down 1.1%

STX opened at $217.51 on Friday. The firm has a market cap of $46.32 billion, a PE ratio of 32.13, a P/E/G ratio of 0.99 and a beta of 1.53. The business has a fifty day simple moving average of $174.24 and a 200-day simple moving average of $130.21. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $231.96.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.14. The business had revenue of $2.44 billion during 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 company's revenue was up 29.5% compared to the same quarter last year. During the same period last year, the company posted $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, equities research analysts anticipate 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. Stockholders of record on Tuesday, September 30th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 30th. 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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