Sonora Investment Management Group LLC Makes New Investment in Seagate Technology Holdings PLC $STX

Key Points

• Sonora Investment Management Group LLC has acquired 7,546 shares of Seagate Technology Holdings PLC, valued at approximately $1,089,000, during the second quarter.
• Seagate Technology's stock received multiple target price increases from various analysts, with Bank of America raising its target from $215.00 to $255.00, reflecting strong market confidence.
• The company has announced a quarterly dividend of $0.72 per share, to be paid on October 9th, representing a dividend yield of 1.3%.

Sonora Investment Management Group LLC purchased a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,546 shares of the data storage provider's stock, valued at approximately $1,089,000.

A number of other hedge funds have also made changes to their positions in the company. Clay Northam Wealth Management LLC acquired a new position in shares of Seagate Technology during the second quarter valued at approximately $224,000. Spirepoint Private Client LLC acquired a new position in shares of Seagate Technology during the second quarter valued at approximately $207,000. ORG Wealth Partners LLC raised its holdings in shares of Seagate Technology by 207.2% during the second quarter. ORG Wealth Partners LLC now owns 725 shares of the data storage provider's stock valued at $105,000 after acquiring an additional 489 shares during the last quarter. Meridian Investment Counsel Inc. acquired a new position in shares of Seagate Technology during the second quarter valued at approximately $327,000. Finally, Old Port Advisors raised its holdings in shares of Seagate Technology by 0.3% during the second quarter. Old Port Advisors now owns 35,658 shares of the data storage provider's stock valued at $5,147,000 after acquiring an additional 123 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 498,710 shares in the company, valued at $72,143,388.60. This trade represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John Christopher Morris sold 15,347 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $195.80, for a total value of $3,004,942.60. Following the transaction, the executive vice president owned 9,843 shares of the company's stock, valued at approximately $1,927,259.40. This represents a 60.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,935 shares of company stock valued at $12,289,616 in the last ninety days. Company insiders own 0.79% of the company's stock.

Wall Street Analyst Weigh In

STX has been the subject of a number of research analyst reports. Bank of America increased their target price on Seagate Technology from $215.00 to $255.00 and gave the company a "buy" rating in a report on Wednesday. Citigroup increased their price target on Seagate Technology from $167.00 to $215.00 and gave the company a "buy" rating in a report on Monday, September 8th. Cantor Fitzgerald increased their price target on Seagate Technology from $175.00 to $280.00 and gave the company an "overweight" rating in a report on Monday, September 22nd. Benchmark increased their price target on Seagate Technology from $165.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, September 16th. Finally, Wells Fargo & Company increased their price target on Seagate Technology from $122.00 to $160.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Fifteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Seagate Technology currently has a consensus rating of "Moderate Buy" and an average price target of $185.58.

Seagate Technology Stock Performance

Shares of Seagate Technology stock opened at $217.51 on Friday. The firm has a market capitalization of $46.32 billion, a price-to-earnings ratio of 32.13, a PEG ratio of 0.98 and a beta of 1.53. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $231.96. The stock has a 50 day moving average of $174.24 and a 200 day moving average of $130.52.

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 the consensus estimate of $2.45 by $0.14. The company had revenue of $2.44 billion during 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 firm's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 30th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, September 30th. Seagate Technology's dividend payout ratio is presently 42.54%.

Seagate Technology Company Profile

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.

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