Seagate Technology Holdings PLC $STX Stock Position Reduced by Harbour Investments Inc.

Key Points

• Harbour Investments cut its Seagate Technology stake by 85% in the fourth quarter, selling 6,660 shares and leaving it with 1,176 shares valued at about $324,000.
• Seagate reported a strong quarter, with EPS of $4.10 and revenue of $3.11 billion, both above analyst expectations and well ahead of the prior year.
• The company also announced a quarterly dividend of $0.74 per share, while analysts remain broadly positive with a consensus Moderate Buy rating and a $754.96 price target.

Harbour Investments Inc. cut its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 85.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,176 shares of the data storage provider's stock after selling 6,660 shares during the period. Harbour Investments Inc.'s holdings in Seagate Technology were worth $324,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC grew its position in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock valued at $27,000 after purchasing an additional 51 shares in the last quarter. Rakuten Securities Inc. grew its position in 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 in the last quarter. Armstrong Advisory Group Inc. purchased a new position in Seagate Technology during the fourth quarter valued at approximately $28,000. Avion Wealth grew its position in 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 purchased a new position in Seagate Technology during the fourth quarter valued at approximately $28,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $921.26 on Tuesday. The firm has a fifty day simple moving average of $621.76 and a 200-day simple moving average of $437.45. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. Seagate Technology Holdings PLC has a 1-year low of $116.78 and a 1-year high of $940.79. The stock has a market capitalization of $206.57 billion, a price-to-earnings ratio of 87.41 and a beta of 1.98.

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

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date is Wednesday, June 24th. Seagate Technology's dividend payout ratio is presently 28.08%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, Director Stephanie Tilenius sold 1,580 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $766.61, for a total value of $1,211,243.80. Following the sale, the director owned 10,664 shares of the company's stock, valued at $8,175,129.04. The trade was a 12.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ban Seng Teh sold 8,003 shares of the business's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the completion of the sale, the executive vice president directly owned 3,691 shares in the company, valued at $3,016,580.48. This trade represents a 68.44% 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. Over the last three months, insiders have sold 122,437 shares of company stock worth $78,398,375. 0.79% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Mizuho lifted their target price on shares of Seagate Technology from $565.00 to $700.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Bank of America lifted their target price on shares of Seagate Technology from $840.00 to $900.00 and gave the company a "buy" rating in a research note on Tuesday, May 26th. Morgan Stanley lifted their target price on shares of Seagate Technology from $582.00 to $767.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. Wall Street Zen upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Finally, UBS Group lifted their target price on shares of Seagate Technology from $515.00 to $545.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $754.96.

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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