Rheos Capital Works Inc. Sells 167,000 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Rheos Capital Works Inc. sold 167,000 shares of Seagate Technology Holdings PLC, reducing its stake by 50.4% and leaving it with 164,500 shares, which now represents only 1.4% of its portfolio.
• Multiple large investors increased their positions in Seagate, with institutions owning approximately 92.87% of the company's stock, indicating strong investor interest.
• Seagate Technology announced a quarterly dividend of $0.72 per share, reflecting an annualized yield of 1.4%, with a current dividend payout ratio of 42.54%.

Rheos Capital Works Inc. reduced its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 50.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,500 shares of the data storage provider's stock after selling 167,000 shares during the period. Seagate Technology accounts for approximately 1.4% of Rheos Capital Works Inc.'s portfolio, making the stock its 22nd biggest holding. Rheos Capital Works Inc. owned 0.08% of Seagate Technology worth $23,742,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Wayfinding Financial LLC acquired a new stake in Seagate Technology in the 1st quarter worth approximately $31,000. Trust Co. of Toledo NA OH bought a new position in shares of Seagate Technology in the second quarter valued at approximately $57,000. Bruce G. Allen Investments LLC lifted its stake in shares of Seagate Technology by 28.1% in the second quarter. Bruce G. Allen Investments LLC now owns 419 shares of the data storage provider's stock worth $60,000 after buying an additional 92 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of Seagate Technology by 30.2% during the 2nd quarter. TD Private Client Wealth LLC now owns 457 shares of the data storage provider's stock worth $66,000 after buying an additional 106 shares during the period. Finally, Golden State Wealth Management LLC grew 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 buying an additional 440 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP John Christopher Morris sold 15,347 shares of Seagate Technology stock in a transaction on Friday, September 12th. The stock was sold at an average price of $195.80, for a total transaction of $3,004,942.60. Following the completion of the transaction, the executive vice president directly owned 9,843 shares of the company's stock, valued at approximately $1,927,259.40. This trade represents a 60.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Ci Lee sold 3,509 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $154.74, for a total transaction of $542,982.66. Following the completion of the sale, the insider owned 1,288 shares in the company, valued at $199,305.12. This represents a 73.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,210 shares of company stock worth $14,146,016 over the last three months. 0.79% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on STX shares. Susquehanna upped their price target on shares of Seagate Technology from $68.00 to $80.00 and gave the company a "negative" rating in a report on Wednesday, July 30th. Sanford C. Bernstein assumed coverage on Seagate Technology in a research report on Tuesday, September 16th. They set an "outperform" rating and a $250.00 price objective for the company. Barclays raised their target price on Seagate Technology from $180.00 to $200.00 and gave the company an "equal weight" rating in a report on Thursday, September 11th. Citigroup upped their price target on Seagate Technology from $215.00 to $250.00 and gave the stock a "buy" rating in a report on Monday. Finally, Zacks Research raised Seagate Technology from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $214.89.

Seagate Technology Price Performance

STX opened at $211.63 on Wednesday. The company has a market capitalization of $45.07 billion, a P/E ratio of 31.26, a P/E/G ratio of 0.98 and a beta of 1.63. The firm's fifty day moving average price is $193.59 and its two-hundred day moving average price is $142.56. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $264.83.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, topping analysts' consensus estimates of $2.45 by $0.14. The company 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 firm's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period last year, the firm earned $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, equities research analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Tuesday, September 30th. Seagate Technology's dividend payout ratio is currently 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.

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