Quad Cities Investment Group LLC Invests $216,000 in Seagate Technology Holdings PLC $STX

Key Points

• Quad Cities Investment Group LLC invested $216,000 in Seagate Technology Holdings PLC, acquiring 1,500 shares in the second quarter.
• Seagate Technology has seen strong institutional interest, with 92.87% of its stock owned by institutional investors and hedge funds.
• Wells Fargo & Company and other analysts recently raised their price targets for Seagate Technology shares, reflecting growing confidence in the company's market position.

Quad Cities Investment Group LLC acquired a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,500 shares of the data storage provider's stock, valued at approximately $216,000.

Other large investors also recently modified their holdings of the company. Ameriflex Group Inc. acquired a new position in shares of Seagate Technology during the 4th quarter worth about $26,000. Fourth Dimension Wealth LLC acquired a new position in shares of Seagate Technology during the 4th quarter worth about $27,000. Wayfinding Financial LLC acquired a new position in shares of Seagate Technology during the 1st quarter worth about $31,000. Golden State Wealth Management LLC lifted its stake in Seagate Technology by 2,200.0% in the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock valued at $39,000 after purchasing an additional 440 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in Seagate Technology in the 1st quarter valued at about $42,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Jay L. Geldmacher sold 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $150.50, for a total transaction of $376,250.00. Following the transaction, the director directly owned 352 shares of the company's stock, valued at approximately $52,976. This trade represents a 87.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James Ci Lee sold 1,116 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $153.36, for a total transaction of $171,149.76. Following the transaction, the insider directly owned 257 shares in the company, valued at $39,413.52. This represents a 81.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,935 shares of company stock valued at $12,289,616. Company insiders own 0.79% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on STX shares. Wells Fargo & Company raised their target price on shares of Seagate Technology from $122.00 to $160.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Barclays raised their target price on shares of Seagate Technology from $180.00 to $200.00 and gave the company an "equal weight" rating in a research note on Thursday, September 11th. Rosenblatt Securities raised their target price on shares of Seagate Technology from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Cantor Fitzgerald upgraded shares of Seagate Technology from a "neutral" rating to an "overweight" rating and set a $175.00 target price for the company in a research note on Wednesday, July 30th. Finally, Citigroup raised their target price on shares of Seagate Technology from $167.00 to $215.00 and gave the company a "buy" rating in a research note on Monday, September 8th. Fifteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $177.95.

Seagate Technology Stock Up 2.1%

Shares of STX stock opened at $221.23 on Friday. The firm has a 50 day moving average price of $166.69 and a two-hundred day moving average price of $125.77. The company has a market capitalization of $47.12 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 1.28 and a beta of 1.53. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $221.66.

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. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The business's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period last year, the business posted $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, research analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.72 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.88 annualized dividend and a yield of 1.3%. Seagate Technology's dividend payout ratio (DPR) is 42.54%.

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.

Want to see what other hedge funds are holding STX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seagate Technology Holdings PLC (NASDAQ:STX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.