Parallel Advisors LLC Acquires 1,151 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Parallel Advisors LLC increased its holdings in Seagate Technology by 39.6% during Q2, now owning shares valued at approximately $585,000.
• CEO William D. Mosley sold 20,000 shares for over $2.89 million, reducing his ownership by 3.86%.
• Seagate recently declared a quarterly dividend of $0.72 per share, representing an annual yield of 1.3%.

Parallel Advisors LLC raised its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 39.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,054 shares of the data storage provider's stock after acquiring an additional 1,151 shares during the quarter. Parallel Advisors LLC's holdings in Seagate Technology were worth $585,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameriflex Group Inc. bought a new stake in shares of Seagate Technology during the fourth quarter valued at approximately $26,000. Fourth Dimension Wealth LLC bought a new position in shares of Seagate Technology during the 4th quarter valued at about $27,000. Wayfinding Financial LLC purchased a new stake in Seagate Technology during the 1st quarter valued at about $31,000. Golden State Wealth Management LLC boosted its position in shares of Seagate Technology by 2,200.0% during the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock valued at $39,000 after purchasing an additional 440 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Seagate Technology during the first quarter valued at approximately $42,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Stock Up 2.1%

NASDAQ STX traded up $4.59 on Friday, hitting $221.23. The stock had a trading volume of 4,831,576 shares, compared to its average volume of 3,534,323. The company's 50-day moving average is $166.69 and its two-hundred day moving average is $125.77. The stock has a market cap of $47.11 billion, a price-to-earnings ratio of 32.68, a P/E/G ratio of 1.28 and a beta of 1.53. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $221.66.

Seagate Technology (NASDAQ:STX - Get Free Report) last released 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 net margin of 16.15% and a negative return on equity of 169.60%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the prior year, the business earned $1.05 earnings per share. 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. On average, sell-side 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. Stockholders of record on Tuesday, September 30th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, September 30th. Seagate Technology's dividend payout ratio (DPR) is currently 42.54%.

Insiders Place Their Bets

In related news, EVP John Christopher Morris sold 15,347 shares of Seagate Technology stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $195.80, for a total value of $3,004,942.60. Following the sale, the executive vice president owned 9,843 shares of the company's stock, valued at approximately $1,927,259.40. The trade was a 60.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $144.66, for a total value of $2,893,200.00. Following the transaction, the chief executive officer owned 498,710 shares of the company's stock, valued at $72,143,388.60. The trade was a 3.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,935 shares of company stock worth $12,289,616 over the last three months. Insiders own 0.79% of the company's stock.

Wall Street Analyst Weigh In

STX has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on Seagate Technology in a report on Thursday, July 10th. They issued a "buy" rating and a $170.00 price objective for the company. Morgan Stanley upped their price objective on Seagate Technology from $167.00 to $168.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Mizuho boosted their target price on Seagate Technology from $160.00 to $245.00 and gave the stock an "outperform" rating in a research report on Friday. Robert W. Baird boosted their target price on Seagate Technology from $120.00 to $188.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, Wells Fargo & Company upped their price objective on Seagate Technology from $122.00 to $160.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Fifteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $177.95.

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.