Seagate Technology Holdings PLC $STX Shares Bought by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management LLC boosted its Seagate Technology stake by 224.9% in the fourth quarter, ending with 4,698 shares valued at about $1.29 million.
• Seagate reported strong quarterly results, with EPS of $4.10 beating estimates and revenue of $3.11 billion topping forecasts, while revenue rose 44.1% year over year.
• The company also raised its quarterly dividend to $0.74 per share, though insiders have been net sellers recently, including CEO William D. Mosley’s 30,000-share sale.

Axxcess Wealth Management LLC grew its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 224.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,698 shares of the data storage provider's stock after buying an additional 3,252 shares during the period. Axxcess Wealth Management LLC's holdings in Seagate Technology were worth $1,294,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Salomon & Ludwin LLC raised its stake in Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock valued at $27,000 after acquiring an additional 51 shares in the last quarter. Rakuten Securities Inc. increased its holdings in shares of Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock valued at $27,000 after purchasing an additional 168 shares during the period. Armstrong Advisory Group Inc. acquired a new position in shares of Seagate Technology during the fourth quarter valued at $28,000. Avion Wealth raised its stake in shares of Seagate Technology by 343.5% during the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider's stock valued at $28,000 after purchasing an additional 79 shares in the last quarter. Finally, Concord Wealth Partners acquired a new stake in Seagate Technology in the fourth quarter worth about $28,000. 92.87% of the stock is owned by institutional investors.

Seagate Technology Stock Performance

Shares of NASDAQ:STX opened at $812.73 on Tuesday. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. The stock has a market capitalization of $182.24 billion, a price-to-earnings ratio of 77.11 and a beta of 1.98. Seagate Technology Holdings PLC has a 1-year low of $108.28 and a 1-year high of $841.31. The company has a 50 day moving average price of $574.69 and a 200 day moving average price of $416.45.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.59. The company had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm's revenue was up 44.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, research analysts anticipate that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. Seagate Technology's payout ratio is 28.08%.

Analyst Ratings Changes

Several equities research analysts recently commented on STX shares. Wells Fargo & Company boosted their target price on Seagate Technology from $450.00 to $700.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 29th. Loop Capital lifted their price target on Seagate Technology from $950.00 to $1,140.00 and gave the company a "buy" rating in a research report on Friday, May 15th. UBS Group boosted their price objective on Seagate Technology from $515.00 to $545.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Morgan Stanley upped their price objective on Seagate Technology from $582.00 to $767.00 and gave the company an "overweight" rating in a report on Wednesday, April 29th. Finally, Bank of America raised their target price on Seagate Technology from $700.00 to $840.00 and gave the company a "buy" rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $733.71.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 30,000 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the completion of the sale, the chief executive officer directly owned 339,591 shares of the company's stock, valued at approximately $255,131,322.39. This represents a 8.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP James Ci Lee sold 697 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $741.17, for a total value of $516,595.49. Following the transaction, the executive vice president directly owned 324 shares in the company, valued at $240,139.08. The trade was a 68.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 142,437 shares of company stock valued at $86,093,575 over the last 90 days. 0.79% of the stock is owned by insiders.

Seagate Technology Company Profile

Seagate Technology NASDAQ: STX is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm's product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate's products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.

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