Prime Capital Investment Advisors LLC Sells 19,754 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Prime Capital Investment Advisors LLC has reduced its stake in Seagate Technology Holdings PLC by 29.9%, selling 19,754 shares, leaving them with a total of 46,418 shares valued at approximately $6.7 million.
• Seagate Technology's stock is currently down 3.9% and has a market cap of $51.72 billion, with a 52-week range of $63.19 to $264.83.
• The company recently declared a quarterly dividend of $0.72, contributing to an annualized yield of 1.2% and a payout ratio of 42.54%.

Prime Capital Investment Advisors LLC cut its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 29.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,418 shares of the data storage provider's stock after selling 19,754 shares during the period. Prime Capital Investment Advisors LLC's holdings in Seagate Technology were worth $6,700,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in 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 worth $1,607,321,000 after acquiring an additional 2,161,191 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Seagate Technology by 3,339.4% in the first 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 period. Vanguard Group Inc. grew its stake 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 purchasing an additional 769,009 shares in the last quarter. Valley Wealth Managers Inc. purchased a new position in Seagate Technology during the 1st quarter worth $17,546,000. Finally, Nuveen LLC bought a new stake in Seagate Technology during the 1st quarter valued at $17,058,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Insider Buying and Selling at Seagate Technology

In related news, insider James Ci Lee sold 1,116 shares of Seagate Technology stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $153.36, for a total value of $171,149.76. Following the completion of the sale, the insider directly owned 257 shares in the company, valued at $39,413.52. This trade represents a 81.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William D. Mosley sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $249.90, for a total transaction of $4,998,000.00. Following the sale, the chief executive officer directly owned 485,668 shares in the company, valued at approximately $121,368,433.20. This represents a 3.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,935 shares of company stock valued at $14,394,416. Insiders own 0.79% of the company's stock.

Seagate Technology Stock Down 3.9%

Shares of STX opened at $242.83 on Tuesday. The company has a 50 day moving average of $185.62 and a two-hundred day moving average of $137.40. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $264.83. The company has a market cap of $51.72 billion, a price-to-earnings ratio of 35.87, a price-to-earnings-growth ratio of 1.13 and a beta of 1.63.

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, topping analysts' consensus estimates of $2.45 by $0.14. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The business's quarterly revenue was up 29.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, sell-side analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology's dividend payout ratio (DPR) is currently 42.54%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on STX. Citigroup increased their price target on Seagate Technology from $167.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. Benchmark upped their price objective on shares of Seagate Technology from $165.00 to $250.00 and gave the stock a "buy" rating in a research note on Tuesday, September 16th. Susquehanna increased their target price on shares of Seagate Technology from $68.00 to $80.00 and gave the stock a "negative" rating in a report on Wednesday, July 30th. Rosenblatt Securities boosted their price target on shares of Seagate Technology from $200.00 to $250.00 and gave the company a "buy" rating in a report on Monday, September 29th. Finally, TD Cowen upped their price target 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. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Seagate Technology has a consensus rating of "Moderate Buy" and an average price target of $193.32.

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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