Sagespring Wealth Partners LLC Makes New $234,000 Investment in Seagate Technology Holdings PLC $STX

Key Points

• Sagespring Wealth Partners LLC invested approximately $234,000 in Seagate Technology Holdings PLC by acquiring 1,624 shares, marking a new position for the firm.
• JPMorgan Chase, Wellington Management, and Vanguard Group significantly increased their stakes in Seagate, reflecting strong institutional interest with approximately 92.87% of the stock owned by institutional investors.
• Seagate reported $2.59 earnings per share for the last quarter, exceeding estimates, with a 29.5% year-over-year revenue increase to $2.44 billion.

Sagespring Wealth Partners LLC bought a new position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,624 shares of the data storage provider's stock, valued at approximately $234,000.

A number of other hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in shares of Seagate Technology by 12.9% during the first quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider's stock valued at $1,607,321,000 after acquiring an additional 2,161,191 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Seagate Technology by 3,339.4% during 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 acquiring an additional 906,840 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Seagate Technology by 2.7% during the first quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider's stock valued at $2,441,729,000 after acquiring an additional 769,009 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Seagate Technology during the first quarter valued at approximately $17,546,000. Finally, Nuveen LLC bought a new stake in shares of Seagate Technology during the first quarter valued at approximately $17,058,000. 92.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Seagate Technology news, insider James Ci Lee sold 3,509 shares of the business's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $154.74, for a total value of $542,982.66. Following the transaction, the insider owned 1,288 shares of the company's stock, valued at approximately $199,305.12. The trade was a 73.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ban Seng Teh sold 5,905 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $155.00, for a total value of $915,275.00. Following the transaction, the executive vice president directly owned 6,147 shares in the company, valued at $952,785. This represents a 49.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,620 shares of company stock valued at $14,464,056. 0.79% of the stock is currently owned by insiders.

Seagate Technology Stock Down 0.3%

Shares of NASDAQ:STX opened at $225.40 on Friday. The stock has a market cap of $48.00 billion, a price-to-earnings ratio of 33.29, a PEG ratio of 1.01 and a beta of 1.63. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $264.83. The business's 50 day moving average is $198.09 and its 200 day moving average is $145.45.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $2.40 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. Seagate Technology'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, equities research analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th were given a $0.72 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.88 annualized dividend and a yield of 1.3%. Seagate Technology's payout ratio is currently 42.54%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on STX shares. Mizuho boosted their price objective on Seagate Technology from $245.00 to $280.00 and gave the company an "outperform" rating in a report on Friday. Sanford C. Bernstein started coverage on Seagate Technology in a report on Tuesday, September 16th. They set an "outperform" rating and a $250.00 price objective for the company. Morgan Stanley boosted their price objective on 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 target price on Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, Benchmark lifted their target price on Seagate Technology from $165.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $229.40.

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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