Seagate Technology Holdings PLC $STX Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in Seagate Technology Holdings PLC by 18.7%, holding 42,055 shares worth approximately $6.07 million after selling 9,681 shares.
• Several other institutional investors, including Bruce G. Allen Investments LLC and B. Riley Wealth Advisors Inc., have also adjusted their positions in the company, with varying increases and decreases in shares owned.
• Seagate Technology recently announced a quarterly dividend of $0.72 per share, with a 1.3% yield, and reported financial results showing a substantial year-over-year revenue increase of 29.5%.

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 18.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,055 shares of the data storage provider's stock after selling 9,681 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Seagate Technology were worth $6,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new position in Seagate Technology during the 4th quarter worth about $26,000. Fourth Dimension Wealth LLC bought a new stake in shares of Seagate Technology in the 4th quarter valued at about $27,000. Wayfinding Financial LLC bought a new stake in shares of Seagate Technology in the 1st quarter valued at about $31,000. Bruce G. Allen Investments LLC boosted its holdings in shares of Seagate Technology by 28.1% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 419 shares of the data storage provider's stock valued at $60,000 after buying an additional 92 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Seagate Technology by 2,200.0% in the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock valued at $39,000 after buying an additional 440 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on STX shares. Susquehanna raised their price target on shares of Seagate Technology from $68.00 to $80.00 and gave the company a "negative" rating in a report on Wednesday, July 30th. Rosenblatt Securities raised their price target on shares of Seagate Technology from $185.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Benchmark raised their price target on shares of Seagate Technology from $165.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday. Bank of America raised their price target on shares of Seagate Technology from $170.00 to $215.00 and gave the company a "buy" rating in a report on Monday, September 15th. Finally, The Goldman Sachs Group assumed coverage on shares of Seagate Technology in a report on Thursday, July 10th. They issued a "buy" rating and a $170.00 price target on the stock. Fifteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $177.95.

Insider Activity at Seagate Technology

In other news, EVP John Christopher Morris sold 15,347 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $195.80, for a total transaction of $3,004,942.60. Following the sale, the executive vice president owned 9,843 shares of the company's stock, valued at $1,927,259.40. This trade represents a 60.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $144.66, for a total transaction of $2,893,200.00. Following the sale, the chief executive officer directly owned 498,710 shares in the company, 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 a total of 75,935 shares of company stock worth $12,289,616 in the last ninety days. 0.79% of the stock is owned by company insiders.

Seagate Technology Stock Up 2.1%

Shares of Seagate Technology stock traded up $4.59 during midday trading on Friday, hitting $221.23. The company had a trading volume of 4,831,576 shares, compared to its average volume of 3,534,323. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $221.66. The stock has a market cap of $47.12 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 1.28 and a beta of 1.53. The company has a fifty day simple moving average of $166.69 and a 200 day simple moving average of $125.77.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the firm posted $1.05 EPS. Seagate Technology's revenue for the quarter was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Announces Dividend

The firm 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 dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.88 dividend on an annualized basis and a yield of 1.3%. Seagate Technology's dividend payout ratio (DPR) is currently 42.54%.

About Seagate Technology

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.