Seagate Technology Holdings PLC $STX Shares Sold by MWA Asset Management

Key Points

• MWA Asset Management cut its Seagate Technology stake by 32.3% in the first quarter, selling 7,961 shares and leaving it with 16,707 shares valued at about $6.55 million.
• Seagate reported strong quarterly results, with EPS of $4.10 topping estimates and revenue of $3.11 billion beating forecasts; revenue rose 44.1% from a year earlier.
• Analysts remain bullish on the stock, with 22 Buy ratings and a consensus price target of $898.52, while insiders have also been selling shares recently.

MWA Asset Management lowered its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 32.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,707 shares of the data storage provider's stock after selling 7,961 shares during the quarter. Seagate Technology makes up 3.6% of MWA Asset Management's holdings, making the stock its 5th largest position. MWA Asset Management's holdings in Seagate Technology were worth $6,545,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in STX. PFA Pension Forsikringsaktieselskab acquired a new position in Seagate Technology during the fourth quarter worth $23,882,000. New York State Teachers Retirement System increased its stake in shares of Seagate Technology by 5.0% in the 4th quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider's stock worth $51,510,000 after acquiring an additional 8,991 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Seagate Technology by 1.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider's stock worth $142,874,000 after acquiring an additional 6,028 shares during the period. Praxis Investment Management Inc. raised its holdings in shares of Seagate Technology by 56.5% during the 4th quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider's stock worth $1,822,000 after acquiring an additional 2,389 shares during the period. Finally, Ritholtz Wealth Management boosted its position in shares of Seagate Technology by 64.5% during the 4th quarter. Ritholtz Wealth Management now owns 21,321 shares of the data storage provider's stock valued at $5,872,000 after acquiring an additional 8,358 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Price Performance

STX opened at $802.45 on Tuesday. The stock's 50-day moving average price is $886.38 and its 200 day moving average price is $595.30. Seagate Technology Holdings PLC has a 12-month low of $138.30 and a 12-month high of $1,145.00. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The firm has a market cap of $179.93 billion, a price-to-earnings ratio of 76.13 and a beta of 2.04.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.59. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.Seagate Technology's revenue was up 44.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, sell-side analysts expect that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were paid 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 was Wednesday, June 24th. Seagate Technology's dividend payout ratio is presently 28.08%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Rosenblatt Securities upped their price objective on shares of Seagate Technology from $500.00 to $1,000.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Argus boosted their target price on shares of Seagate Technology from $450.00 to $750.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Wall Street Zen raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. TD Cowen raised their price target on shares of Seagate Technology from $500.00 to $850.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Finally, Sanford C. Bernstein lifted their price target on shares of Seagate Technology from $620.00 to $1,000.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $898.52.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CFO Gianluca Romano sold 903 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $794,811.57. Following the completion of the transaction, the chief financial officer owned 42,860 shares of the company's stock, valued at $37,724,943.40. This trade represents a 2.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William D. Mosley sold 9,343 shares of the business's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $924.42, for a total transaction of $8,636,856.06. Following the completion of the transaction, the chief executive officer owned 311,517 shares of the company's stock, valued at approximately $287,972,545.14. This trade represents a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 151,069 shares of company stock valued at $126,191,753 in the last quarter. Corporate insiders own 0.79% of the company's stock.

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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