Sara Bay Financial Sells 1,116 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Sara Bay Financial reduced its stake in Seagate Technology Holdings PLC by 10.3%, selling 1,116 shares and now holds 9,766 shares worth approximately $1,410,000.
• Seagate Technology recently reported earnings of $2.59 EPS, surpassing expectations, with revenue increasing by 29.5% year-over-year to $2.44 billion.
• A variety of analysts have revised their price targets for Seagate, with UBS raising it from $85 to $155, while Mizuho set theirs at $245, reflecting strong confidence in the company's market position.

Sara Bay Financial trimmed its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 10.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 9,766 shares of the data storage provider's stock after selling 1,116 shares during the quarter. Seagate Technology comprises about 0.5% of Sara Bay Financial's portfolio, making the stock its 20th biggest holding. Sara Bay Financial's holdings in Seagate Technology were worth $1,410,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of STX. JPMorgan Chase & Co. lifted its position in shares of Seagate Technology by 12.9% during the 1st 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 during the period. Wellington Management Group LLP lifted its position in shares of Seagate Technology by 3,339.4% during the 1st 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 during the period. Vanguard Group Inc. lifted its position in shares of Seagate Technology by 2.7% during the 1st 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 during the period. Wedge Capital Management L L P NC bought a new stake in shares of Seagate Technology during the 1st quarter valued at $50,792,000. Finally, GAMMA Investing LLC lifted its position in shares of Seagate Technology by 9,116.6% during the 1st quarter. GAMMA Investing LLC now owns 257,144 shares of the data storage provider's stock valued at $21,844,000 after acquiring an additional 254,354 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on STX shares. Susquehanna upped their target price on Seagate Technology from $68.00 to $80.00 and gave the company a "negative" rating in a research report on Wednesday, July 30th. UBS Group boosted their price target on Seagate Technology from $85.00 to $155.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Mizuho boosted their price target on Seagate Technology from $160.00 to $245.00 and gave the stock an "outperform" rating in a report on Friday, September 19th. Wells Fargo & Company boosted their price target on Seagate Technology from $122.00 to $160.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Finally, Barclays boosted their price target on Seagate Technology from $180.00 to $200.00 and gave the stock an "equal weight" rating in a report on Thursday, September 11th. Fifteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $183.47.

Seagate Technology Trading Down 0.5%

Shares of STX stock opened at $228.13 on Wednesday. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $231.96. The stock has a 50-day moving average of $169.87 and a 200-day moving average of $127.73. The stock has a market cap of $48.58 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 1.32 and a beta of 1.53.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 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 analyst estimates of $2.40 billion. During the same quarter in the prior year, the company earned $1.05 EPS. The firm's revenue for the quarter was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Sell-side analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors 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 dividend yield of 1.3%. Seagate Technology's dividend payout ratio is presently 42.54%.

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 Friday, August 1st. The stock was sold at an average price of $153.75, for a total transaction of $3,075,000.00. Following the sale, the chief executive officer owned 478,912 shares in the company, valued at $73,632,720. This represents a 4.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Christopher Morris sold 377 shares of the company's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $211.26, for a total value of $79,645.02. Following the sale, the executive vice president owned 13,238 shares in the company, valued at approximately $2,796,659.88. The trade was a 2.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,935 shares of company stock worth $12,289,616 over the last quarter. 0.79% of the stock is owned by company insiders.

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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