Pallas Capital Advisors LLC Makes New $755,000 Investment in Seagate Technology Holdings PLC $STX

Key Points

• Pallas Capital Advisors LLC has invested $755,000 to acquire a new stake in Seagate Technology, purchasing 5,229 shares of the company.
• Several analysts have recently upgraded Seagate Technology's stock ratings, with Cantor Fitzgerald upgrading it to "overweight" and Robert W. Baird raising its target price to $188.00.
• Seagate Technology declared a quarterly dividend of $0.72, representing a 1.3% yield, to be paid on October 9th to shareholders on record as of September 30th.

Pallas Capital Advisors LLC purchased a new stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,229 shares of the data storage provider's stock, valued at approximately $755,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tidal Investments LLC boosted its holdings in Seagate Technology by 133.1% in the 4th quarter. Tidal Investments LLC now owns 12,681 shares of the data storage provider's stock worth $1,094,000 after buying an additional 7,240 shares during the last quarter. Vident Advisory LLC boosted its holdings in Seagate Technology by 39.6% in the 4th quarter. Vident Advisory LLC now owns 8,571 shares of the data storage provider's stock worth $740,000 after buying an additional 2,432 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its holdings in Seagate Technology by 83.2% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 17,336 shares of the data storage provider's stock worth $1,496,000 after buying an additional 7,873 shares during the last quarter. Waverly Advisors LLC acquired a new stake in Seagate Technology in the 4th quarter worth about $226,000. Finally, Voloridge Investment Management LLC acquired a new position in shares of Seagate Technology during the 4th quarter worth approximately $10,807,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Seagate Technology Stock Up 4.0%

Seagate Technology stock traded up $8.78 during midday trading on Monday, reaching $230.01. The company's stock had a trading volume of 3,453,743 shares, compared to its average volume of 3,884,778. The business has a 50-day simple moving average of $166.69 and a 200-day simple moving average of $126.04. The company has a market cap of $48.98 billion, a P/E ratio of 33.94, a P/E/G ratio of 1.28 and a beta of 1.53. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $230.82.

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. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the company posted $1.05 earnings per share. The business's quarterly 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. As a group, equities analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share 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 1.3%. Seagate Technology's dividend payout ratio (DPR) is currently 42.54%.

Insider Buying and Selling

In other Seagate Technology news, Director Jay L. Geldmacher sold 2,500 shares of Seagate Technology stock in a transaction that occurred 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 sale, the director owned 352 shares of the company's stock, valued at approximately $52,976. The trade was a 87.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Christopher Morris sold 377 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $211.26, for a total value of $79,645.02. Following the sale, the executive vice president directly owned 13,238 shares in the company, valued at $2,796,659.88. This trade represents a 2.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,935 shares of company stock worth $12,289,616 in the last three months. Company insiders own 0.79% of the company's stock.

Wall Street Analyst Weigh In

STX has been the topic of several recent research reports. Benchmark boosted their target price on Seagate Technology from $165.00 to $250.00 and gave the stock a "buy" rating in a report on Tuesday, September 16th. Sanford C. Bernstein started coverage on Seagate Technology in a report on Tuesday, September 16th. They issued an "outperform" rating and a $250.00 price objective on the stock. Wells Fargo & Company upped their price objective on Seagate Technology from $122.00 to $160.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Robert W. Baird upped their price objective on Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Cantor Fitzgerald upped their price objective on Seagate Technology from $175.00 to $280.00 and gave the company an "overweight" rating in a report on Monday. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $183.47.

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.