SeaTown Holdings Pte. Ltd. Buys Shares of 32,500 Seagate Technology Holdings PLC $STX

Key Points

• SeaTown Holdings bought a new position of 32,500 shares of Seagate (~$8.95 million), representing about 5.2% of SeaTown’s portfolio and the stock being its 12th largest holding.
• Several analysts have sharply raised targets and ratings (TD Cowen to $500, Citi to $480, JPMorgan initiated at $525), leaving Seagate with a consensus "Moderate Buy" rating and an average price target of $461.00.
• Insiders have sold a total of 113,635 shares (~$47.13M) in the past 90 days, even as Seagate beat quarterly EPS estimates ($3.11 vs. $2.77), gave Q3 guidance of 3.200–3.600 EPS, and announced a $0.74 quarterly dividend.

SeaTown Holdings Pte. Ltd. purchased a new position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 32,500 shares of the data storage provider's stock, valued at approximately $8,950,000. Seagate Technology accounts for about 5.2% of SeaTown Holdings Pte. Ltd.'s portfolio, making the stock its 12th largest position.

Several other institutional investors and hedge funds have also modified their holdings of STX. Armstrong Advisory Group Inc. bought a new position in Seagate Technology in the 4th quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Seagate Technology during the fourth quarter valued at $37,000. First Horizon Corp bought a new stake in Seagate Technology during the third quarter valued at about $33,000. Raiffeisen Bank International AG purchased a new stake in Seagate Technology in the third quarter worth about $33,000. Finally, Physician Wealth Advisors Inc. increased its position in Seagate Technology by 43.7% in the third quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider's stock worth $35,000 after buying an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Wall Street Analysts Forecast Growth

STX has been the topic of a number of analyst reports. TD Cowen lifted their price objective on Seagate Technology from $340.00 to $500.00 and gave the company a "buy" rating in a research report on Wednesday, January 28th. Susquehanna raised shares of Seagate Technology from a "negative" rating to a "neutral" rating and increased their target price for the stock from $150.00 to $280.00 in a report on Friday, January 16th. The Goldman Sachs Group raised their target price on shares of Seagate Technology from $310.00 to $385.00 and gave the stock a "buy" rating in a research note on Wednesday, January 28th. Citigroup upped their price target on shares of Seagate Technology from $460.00 to $480.00 and gave the stock a "buy" rating in a research report on Friday, February 6th. Finally, JPMorgan Chase & Co. started coverage on shares of Seagate Technology in a research note on Monday, March 30th. They issued an "overweight" rating and a $525.00 price objective for the company. Nineteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $461.00.

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP Kian Fatt Chong sold 5,846 shares of the stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $416.48, for a total transaction of $2,434,742.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jay L. Geldmacher sold 925 shares of Seagate Technology stock in a transaction on Friday, January 30th. The stock was sold at an average price of $448.02, for a total transaction of $414,418.50. Following the completion of the transaction, the director directly owned 223 shares of the company's stock, valued at $99,908.46. The trade was a 80.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 113,635 shares of company stock valued at $47,133,843 in the last 90 days. Company insiders own 0.79% of the company's stock.

Seagate Technology Stock Performance

Shares of Seagate Technology stock opened at $429.36 on Monday. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $459.84. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63. The business has a 50-day moving average price of $404.33 and a 200-day moving average price of $315.31. The firm has a market cap of $93.63 billion, a price-to-earnings ratio of 48.57, a PEG ratio of 0.95 and a beta of 1.61.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping analysts' consensus estimates of $2.77 by $0.34. The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.73 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The firm's revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Equities research analysts anticipate that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, March 25th. Seagate Technology's dividend payout ratio is currently 33.48%.

Seagate Technology 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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