State of Wyoming Sells 1,368 Shares of Seagate Technology Holdings PLC $STX

Key Points

• State of Wyoming cut its Seagate Technology stake by 45% in the first quarter, selling 1,368 shares and leaving it with 1,673 shares valued at about $655,000.
• Insider selling has been heavy, including notable sales by EVP John Christopher Morris and CFO Gianluca Romano; insiders sold 151,069 shares worth about $126.2 million over the last 90 days.
• Analyst sentiment remains constructive, with several firms raising price targets and 22 analysts rating STX a Buy, giving it a consensus “Moderate Buy” and an average target price of $898.52.

State of Wyoming decreased its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 45.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,673 shares of the data storage provider's stock after selling 1,368 shares during the quarter. State of Wyoming's holdings in Seagate Technology were worth $655,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in STX. Salomon & Ludwin LLC raised 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 worth $27,000 after acquiring an additional 51 shares in the last quarter. Rakuten Securities Inc. grew its position in shares of Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock valued at $27,000 after acquiring an additional 168 shares during the period. Avion Wealth increased its stake in shares of Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider's stock worth $28,000 after purchasing an additional 79 shares during the last quarter. Concord Wealth Partners acquired a new position in shares of Seagate Technology during the 4th quarter worth about $28,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of Seagate Technology by 23.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider's stock valued at $31,000 after purchasing an additional 15 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP John Christopher Morris sold 5,626 shares of the company's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $738.37, for a total value of $4,154,069.62. Following the transaction, the executive vice president directly owned 11,954 shares of the company's stock, valued at $8,826,474.98. This represents a 32.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 22,488 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total value of $17,410,659.36. Following the transaction, the chief financial officer owned 42,847 shares in the company, valued at $33,173,004.34. The trade was a 34.42% 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. In the last 90 days, insiders sold 151,069 shares of company stock valued at $126,191,753. Corporate insiders own 0.79% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on STX. Rosenblatt Securities raised their target price on shares of Seagate Technology from $500.00 to $1,000.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. TD Cowen boosted their price target on Seagate Technology from $500.00 to $850.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Sanford C. Bernstein raised their price objective on Seagate Technology from $620.00 to $1,000.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. The Goldman Sachs Group lifted their target price on Seagate Technology from $385.00 to $700.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. boosted their target price on Seagate Technology from $775.00 to $920.00 and gave the stock an "overweight" rating in a report on Thursday, June 11th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $898.52.

Seagate Technology Stock Up 0.6%

Shares of STX opened at $913.36 on Friday. The firm has a market cap of $204.80 billion, a P/E ratio of 86.66 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. Seagate Technology Holdings PLC has a 52 week low of $138.30 and a 52 week high of $1,145.00. The firm's 50-day simple moving average is $892.03 and its 200 day simple moving average is $608.50.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $2.96 billion. During the same quarter in the previous year, the company posted $1.90 earnings per share. The business's revenue 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, analysts forecast that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were paid a $0.74 dividend. The ex-dividend date was Wednesday, June 24th. This represents a $2.96 annualized dividend and a yield of 0.3%. Seagate Technology's payout ratio is 28.08%.

Seagate Technology Company 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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