SeaBridge Investment Advisors LLC Sells 4,853 Shares of Seagate Technology Holdings PLC $STX

Key Points

• SeaBridge Investment Advisors LLC reduced its stake in Seagate Technology by 14.6%, selling 4,853 shares, leaving them with a total of 28,455 shares valued at approximately $4.1 million.
• Analysts have a consensus rating of "Moderate Buy" for Seagate Technology, with an average target price of $185.58, and several firms have recently adjusted their target prices upwards.
• Seagate Technology announced a quarterly dividend of $0.72 per share, with an ex-dividend date set for September 30th, representing an annualized dividend yield of 1.3%.

SeaBridge Investment Advisors LLC trimmed its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 14.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,455 shares of the data storage provider's stock after selling 4,853 shares during the quarter. SeaBridge Investment Advisors LLC's holdings in Seagate Technology were worth $4,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of STX. Mackenzie Financial Corp lifted its holdings in shares of Seagate Technology by 10.5% during the 4th quarter. Mackenzie Financial Corp now owns 19,770 shares of the data storage provider's stock valued at $1,706,000 after buying an additional 1,877 shares during the period. Ameriflex Group Inc. bought a new position in shares of Seagate Technology during the 4th quarter valued at $26,000. Siemens Fonds Invest GmbH lifted its holdings in shares of Seagate Technology by 116.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 4,392 shares of the data storage provider's stock valued at $379,000 after buying an additional 2,367 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Seagate Technology by 14.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,511 shares of the data storage provider's stock valued at $1,252,000 after buying an additional 1,832 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of Seagate Technology by 712.6% during the 1st quarter. Versant Capital Management Inc now owns 967 shares of the data storage provider's stock valued at $82,000 after buying an additional 848 shares during the period. 92.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on STX shares. Barclays raised their target price on Seagate Technology from $180.00 to $200.00 and gave the stock an "equal weight" rating in a report on Thursday, September 11th. Wall Street Zen cut Seagate Technology from a "buy" rating to a "hold" rating in a report on Friday, May 30th. The Goldman Sachs Group started coverage on Seagate Technology in a report on Thursday, July 10th. They issued a "buy" rating and a $170.00 target price on the stock. Benchmark raised their target price on Seagate Technology from $165.00 to $250.00 and gave the stock a "buy" rating in a report on Tuesday, September 16th. Finally, Bank of America raised their target price on Seagate Technology from $215.00 to $255.00 and gave the stock a "buy" rating in a report on Wednesday. Fifteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Seagate Technology has a consensus rating of "Moderate Buy" and an average target price of $185.58.

Seagate Technology Stock Down 1.1%

NASDAQ:STX opened at $217.51 on Friday. The business's 50-day simple moving average is $174.24 and its two-hundred day simple moving average is $130.21. The stock has a market cap of $46.32 billion, a PE ratio of 32.13, a P/E/G ratio of 0.99 and a beta of 1.53. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $231.96.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, beating analysts' consensus estimates of $2.45 by $0.14. The business had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.40 billion. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The business's quarterly revenue was up 29.5% on a year-over-year basis. During the same period last year, the firm earned $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Sell-side analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.3%. Seagate Technology's dividend payout ratio (DPR) is presently 42.54%.

Insider Activity

In other news, EVP Ban Seng Teh sold 5,905 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $155.00, for a total transaction of $915,275.00. Following the completion of the transaction, the executive vice president owned 6,147 shares in the company, valued at $952,785. This trade represents a 49.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James Ci Lee sold 3,509 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,935 shares of company stock valued at $12,289,616. 0.79% of the stock is owned by corporate insiders.

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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