Seagate Technology Holdings PLC $STX is Wedge Capital Management L L P NC's 4th Largest Position

Key Points

• Wedge Capital Management L L P NC has reduced its stake in Seagate Technology by 18.8%, now owning 485,744 shares valued at approximately $70.1 million.
• Seagate reported a 29.5% year-over-year increase in revenue, reaching $2.44 billion, and earnings per share of $2.59, exceeding expectations.
• The company declared a quarterly dividend of $0.72, with an ex-dividend date on September 30th, representing an annual yield of 1.3%.

Wedge Capital Management L L P NC lessened its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 18.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 485,744 shares of the data storage provider's stock after selling 112,159 shares during the quarter. Seagate Technology comprises 1.3% of Wedge Capital Management L L P NC's investment portfolio, making the stock its 4th biggest position. Wedge Capital Management L L P NC owned 0.23% of Seagate Technology worth $70,107,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Ameriflex Group Inc. bought a new position in Seagate Technology in the fourth quarter valued at about $26,000. Fourth Dimension Wealth LLC bought a new position in Seagate Technology in the fourth quarter valued at about $27,000. Wayfinding Financial LLC bought a new position in Seagate Technology in the first quarter valued at about $31,000. Bruce G. Allen Investments LLC increased its holdings in shares of Seagate Technology by 28.1% during the second quarter. Bruce G. Allen Investments LLC now owns 419 shares of the data storage provider's stock worth $60,000 after buying an additional 92 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its stake in Seagate Technology by 2,200.0% in the first 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 during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Wall Street Analyst Weigh In

STX has been the topic of several recent analyst reports. Cantor Fitzgerald boosted their price target on Seagate Technology from $175.00 to $280.00 and gave the company an "overweight" rating in a research note on Monday. Wall Street Zen downgraded Seagate Technology from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Sanford C. Bernstein began coverage on Seagate Technology in a research note on Tuesday, September 16th. They issued an "outperform" rating and a $250.00 target price for the company. UBS Group increased their price target on shares of Seagate Technology from $85.00 to $155.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Bank of America raised their price target on Seagate Technology from $170.00 to $215.00 and gave the company a "buy" rating in a research report on Monday, September 15th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $183.47.

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP John Christopher Morris sold 377 shares of Seagate Technology stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $211.26, for a total transaction of $79,645.02. Following the completion of the transaction, the executive vice president owned 13,238 shares in the company, valued at approximately $2,796,659.88. The trade was a 2.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Friday, August 1st. The shares were sold at an average price of $153.75, for a total value of $3,075,000.00. Following the transaction, the chief executive officer owned 478,912 shares of the company's stock, valued at $73,632,720. The trade was a 4.01% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,935 shares of company stock worth $12,289,616. Corporate insiders own 0.79% of the company's stock.

Seagate Technology Trading Up 3.7%

Shares of STX stock traded up $8.10 during trading hours on Monday, reaching $229.33. The company's stock had a trading volume of 5,239,989 shares, compared to its average volume of 3,895,573. The stock has a market capitalization of $48.84 billion, a P/E ratio of 33.87, 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 $230.82. The firm's fifty day simple moving average is $166.69 and its 200 day simple moving average is $126.04.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, topping analysts' consensus estimates of $2.45 by $0.14. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The business's quarterly revenue was up 29.5% compared to the same quarter last year. During the same period last year, the company earned $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, equities research analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis 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%.

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.