Seagate Technology Holdings PLC $STX Holdings Raised by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Seagate Technology by 41.2%, owning 24,175 shares valued at approximately $3.6 million after acquiring an additional 7,053 shares in Q2.
• Seagate reported total revenue of $2.44 billion for the recent quarter, exceeding analyst expectations, and announced a quarterly dividend of $0.72 per share to be paid on October 9th.
• Several analysts have raised their price targets for Seagate's stock, with Cantor Fitzgerald setting a new target of $280, indicating strong confidence in the company's future performance.

Wealth Enhancement Advisory Services LLC boosted its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 41.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,175 shares of the data storage provider's stock after buying an additional 7,053 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Seagate Technology were worth $3,613,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Bruce G. Allen Investments LLC raised its holdings in shares of Seagate Technology by 28.1% during the second quarter. Bruce G. Allen Investments LLC now owns 419 shares of the data storage provider's stock worth $60,000 after acquiring an additional 92 shares in the last quarter. QRG Capital Management Inc. raised its stake in shares of Seagate Technology by 1.2% during the 1st quarter. QRG Capital Management Inc. now owns 10,876 shares of the data storage provider's stock worth $924,000 after purchasing an additional 134 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Seagate Technology by 0.4% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 40,449 shares of the data storage provider's stock worth $3,436,000 after purchasing an additional 144 shares in the last quarter. Blair William & Co. IL raised its position in Seagate Technology by 5.9% during the first quarter. Blair William & Co. IL now owns 2,835 shares of the data storage provider's stock valued at $241,000 after acquiring an additional 157 shares in the last quarter. Finally, Bangor Savings Bank raised its position in Seagate Technology by 2.3% during the second quarter. Bangor Savings Bank now owns 7,578 shares of the data storage provider's stock valued at $1,094,000 after acquiring an additional 171 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Stock Down 1.1%

NASDAQ STX opened at $217.51 on Friday. The stock has a market cap of $46.32 billion, a P/E ratio of 32.13, a PEG ratio of 0.99 and a beta of 1.53. The company's 50-day simple moving average is $174.24 and its 200 day simple moving average is $130.21. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $231.96.

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, beating 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 business 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 posted $1.05 earnings per share. The firm's revenue for the quarter was up 29.5% on a year-over-year basis. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Research analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, September 30th. Seagate Technology's dividend payout ratio is 42.54%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on STX shares. Cantor Fitzgerald raised their price objective on shares of Seagate Technology from $175.00 to $280.00 and gave the company an "overweight" rating in a research report on Monday, September 22nd. Benchmark raised their price objective on Seagate Technology from $165.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, September 16th. TD Cowen lifted their price target on shares of Seagate Technology from $135.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Sanford C. Bernstein began coverage on Seagate Technology in a research report on Tuesday, September 16th. They issued an "outperform" rating and a $250.00 price target on the stock. Finally, Mizuho boosted their price objective on shares of Seagate Technology from $160.00 to $245.00 and gave the stock an "outperform" rating in a report on Friday, September 19th. Fifteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $185.58.

Insider Transactions at Seagate Technology

In other news, 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 value of $376,250.00. Following the sale, the director owned 352 shares of the company's stock, valued at approximately $52,976. This represents a 87.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the chief executive officer directly owned 478,912 shares in the company, valued at approximately $73,632,720. The trade was a 4.01% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,935 shares of company stock valued at $12,289,616. 0.79% of the stock is owned by 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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