OLD National Bancorp IN Makes New Investment in Seagate Technology Holdings PLC $STX

OLD National Bancorp IN purchased a new position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,974 shares of the data storage provider's stock, valued at approximately $285,000.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on STX shares. TD Cowen increased their target price on shares of Seagate Technology from $135.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Sanford C. Bernstein began coverage on Seagate Technology in a research note on Tuesday, September 16th. They issued an "outperform" rating and a $250.00 price objective on the stock. Citigroup boosted their target price on Seagate Technology from $167.00 to $215.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Mizuho increased their price target on Seagate Technology from $160.00 to $245.00 and gave the company an "outperform" rating in a report on Friday, September 19th. Finally, Benchmark lifted their price target on shares of Seagate Technology from $165.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Seagate Technology has a consensus rating of "Moderate Buy" and a consensus price target of $193.32.

Seagate Technology Trading Down 7.3%

Shares of STX stock opened at $225.01 on Wednesday. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $264.83. The firm's fifty day simple moving average is $187.07 and its 200 day simple moving average is $138.01. The firm has a market capitalization of $47.92 billion, a P/E ratio of 33.24, a price-to-earnings-growth ratio of 1.09 and a beta of 1.63.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.45 by $0.14. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Seagate Technology's revenue was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Equities research analysts anticipate that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 30th will be given 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 yield of 1.3%. Seagate Technology's payout ratio is 42.54%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 5,905 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $155.00, for a total value of $915,275.00. Following the sale, the executive vice president owned 6,147 shares of the company's stock, valued at $952,785. The trade was a 49.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William D. Mosley sold 20,000 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $249.90, for a total transaction of $4,998,000.00. Following the completion of the sale, the chief executive officer directly owned 485,668 shares in the company, valued at $121,368,433.20. This trade represents a 3.96% 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 $14,394,416 in the last three months. 0.79% of the stock is owned by insiders.

Seagate Technology 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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