Ritholtz Wealth Management Lowers Stock Holdings in Seagate Technology Holdings PLC $STX

Key Points

• Ritholtz Wealth Management reduced its stake in Seagate Technology by 21.0% in the second quarter, leaving them with 9,463 shares valued at approximately $1.37 million.
• Several investors, including Hamilton Point Investment Advisors and Sagespring Wealth Partners, also initiated new positions in Seagate Technology during the same period.
• Analysts have issued positive ratings for Seagate Technology, with price targets varying widely from $175.00 to $265.00, reflecting optimistic growth forecasts for the company.

Ritholtz Wealth Management decreased its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 21.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,463 shares of the data storage provider's stock after selling 2,516 shares during the quarter. Ritholtz Wealth Management's holdings in Seagate Technology were worth $1,366,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Hamilton Point Investment Advisors LLC purchased a new position in shares of Seagate Technology during the 2nd quarter valued at $326,000. Sagespring Wealth Partners LLC purchased a new position in shares of Seagate Technology during the 2nd quarter valued at $234,000. RFG Advisory LLC purchased a new position in shares of Seagate Technology during the 2nd quarter valued at $527,000. Axxcess Wealth Management LLC purchased a new position in shares of Seagate Technology during the 2nd quarter valued at $222,000. Finally, Cornerstone Wealth Group LLC lifted its stake in shares of Seagate Technology by 8.2% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 3,453 shares of the data storage provider's stock valued at $498,000 after buying an additional 261 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on STX shares. Sanford C. Bernstein started coverage on shares of Seagate Technology in a report on Tuesday, September 16th. They issued an "outperform" rating and a $250.00 price target on the stock. Wedbush lifted their price target on shares of Seagate Technology from $175.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday. Morgan Stanley lifted their price target on shares of Seagate Technology from $168.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, September 29th. Robert W. Baird lifted their price target on shares of Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Seagate Technology in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $229.40.

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction dated 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jay L. Geldmacher sold 2,500 shares of the company's stock in a transaction dated 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 owned 352 shares in the company, valued at $52,976. The trade was a 87.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,620 shares of company stock worth $14,464,056 in the last three months. 0.79% of the stock is owned by insiders.

Seagate Technology Stock Down 0.3%

Seagate Technology stock opened at $225.40 on Friday. The company's 50-day moving average price is $198.09 and its 200-day moving average price is $145.03. 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 $48.00 billion, a PE ratio of 33.29, a price-to-earnings-growth ratio of 1.01 and a beta of 1.63.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share 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 firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the firm posted $1.05 EPS. The business's quarterly revenue was up 29.5% on a year-over-year basis. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, sell-side analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Tuesday, September 30th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.3%. The ex-dividend date was Tuesday, September 30th. Seagate Technology's dividend payout ratio is presently 42.54%.

About Seagate Technology

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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