Seagate Technology Holdings PLC $STX Shares Bought by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its Seagate stake by 40.8% in the second quarter, bringing its holdings to 65,693 shares valued at approximately $60.1 million. Institutional investors collectively own 92.87% of the company.
• Analysts maintain a generally positive outlook, with one Strong Buy, 22 Buy, and four Hold ratings. Seagate has a consensus rating of “Moderate Buy” and an average price target of $986.
• Seagate reported quarterly EPS of $5.71, exceeding estimates of $5.10, while revenue rose 48.5% year over year to $3.63 billion. The company also declared a quarterly dividend of $0.74 per share, although insiders have sold roughly $161.9 million in stock over the past three months.

TD Waterhouse Canada Inc. lifted its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 40.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,693 shares of the data storage provider's stock after buying an additional 19,034 shares during the period. TD Waterhouse Canada Inc.'s holdings in Seagate Technology were worth $60,071,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp acquired a new position in Seagate Technology during the 2nd quarter worth approximately $39,000. Trust Co. of Vermont acquired a new stake in Seagate Technology in the second quarter valued at approximately $54,000. Triumph Capital Management grew its position in Seagate Technology by 93.5% in the second quarter. Triumph Capital Management now owns 60 shares of the data storage provider's stock valued at $58,000 after acquiring an additional 29 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of Seagate Technology by 23.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider's stock valued at $31,000 after purchasing an additional 15 shares during the period. Finally, WealthCollab LLC raised its stake in shares of Seagate Technology by 27.4% during the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider's stock valued at $36,000 after purchasing an additional 20 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on STX. Wells Fargo & Company boosted their target price on shares of Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Fox Advisors downgraded shares of Seagate Technology from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 22nd. China Renaissance lifted their price target on shares of Seagate Technology from $802.00 to $983.00 in a research note on Friday, June 12th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $1,300.00 price objective on shares of Seagate Technology in a report on Wednesday, July 29th. Finally, Barclays upped their price objective on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $986.00.

Seagate Technology Stock Performance

Seagate Technology stock opened at $798.61 on Friday. Seagate Technology Holdings PLC has a 52 week low of $175.82 and a 52 week high of $1,145.00. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. The stock has a market cap of $181.00 billion, a P/E ratio of 57.54 and a beta of 2.06. The stock has a 50 day moving average of $852.94 and a 200-day moving average of $708.76.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.10 by $0.61. The business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business's revenue was up 48.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, analysts expect that Seagate Technology Holdings PLC will post 35.7 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology's dividend payout ratio (DPR) is currently 21.33%.

Insider Buying and Selling

In related news, EVP Ban Teh sold 9,862 shares of Seagate Technology stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $852.97, for a total value of $8,411,990.14. Following the completion of the transaction, the executive vice president directly owned 5,210 shares in the company, valued at approximately $4,443,973.70. This trade represents a 65.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP James Lee sold 9,013 shares of the business's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $794.84, for a total value of $7,163,892.92. Following the completion of the sale, the executive vice president directly owned 347 shares of the company's stock, valued at approximately $275,809.48. This represents a 96.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 191,765 shares of company stock worth $161,865,249. 0.79% of the stock is currently owned by insiders.

About Seagate Technology

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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