Sumitomo Mitsui DS Asset Management Company Ltd Purchases 3,244 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Sumitomo Mitsui DS Asset Management increased its Seagate stake by 5.9%, buying 3,244 shares to hold 58,170 shares valued at approximately $53.7 million. Institutional investors and hedge funds collectively own 92.87% of the company.
• Seagate reported quarterly EPS of $5.71, beating estimates by $0.61, while revenue rose 48.5% year over year to $3.63 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $973.40.
• The company declared a quarterly dividend of $0.74, equivalent to a 0.4% annualized yield, while insiders sold 466,959 shares worth about $378.8 million over the past three months.

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 5.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 58,170 shares of the data storage provider's stock after acquiring an additional 3,244 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Seagate Technology were worth $53,653,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC increased its holdings in shares of Seagate Technology by 70.6% during the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider's stock valued at $28,000 after acquiring an additional 12 shares in the last quarter. Bridgewater Advisors Inc. lifted its holdings in shares of Seagate Technology by 0.9% in the 1st quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider's stock worth $579,000 after purchasing an additional 13 shares in the last quarter. Baker Tilly Wealth Management LLC grew its position in Seagate Technology by 4.6% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 319 shares of the data storage provider's stock valued at $295,000 after purchasing an additional 14 shares during the period. Annis Gardner Whiting Capital Advisors LLC grew its position in 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. Finally, Blalock Williams LLC grew its position in Seagate Technology by 2.6% in the 2nd quarter. Blalock Williams LLC now owns 636 shares of the data storage provider's stock valued at $614,000 after purchasing an additional 16 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Stock Up 3.4%

STX stock opened at $660.81 on Tuesday. Seagate Technology Holdings PLC has a twelve month low of $209.00 and a twelve month high of $1,145.00. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. The stock's 50 day moving average is $839.57 and its 200-day moving average is $806.45. The firm has a market capitalization of $150.26 billion, a PE ratio of 47.61 and a beta of 2.06.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%. The company had revenue of $3.63 billion for the quarter, compared to analysts' expectations of $3.50 billion. During the same quarter in the previous year, the firm earned $2.59 earnings per share. Seagate Technology's quarterly revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Sell-side analysts expect that Seagate Technology Holdings PLC will post 35.70 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th were paid a $0.74 dividend. The ex-dividend date was Thursday, September 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. Seagate Technology's dividend payout ratio is presently 21.33%.

Analyst Ratings Changes

A number of analysts have commented on STX shares. Wells Fargo & Company decreased their price target on shares of Seagate Technology from $1,180.00 to $865.00 and set an "overweight" rating for the company in a research note on Friday. Morgan Stanley raised their price objective on shares of Seagate Technology from $1,035.00 to $1,187.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Citigroup raised their price objective on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Sanford C. Bernstein reiterated an "outperform" rating and set a $1,350.00 price objective on shares of Seagate Technology in a report on Wednesday, July 29th. Finally, Wedbush boosted their target price on shares of Seagate Technology from $825.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Seagate Technology presently has an average rating of "Moderate Buy" and an average price target of $973.40.

Insider Activity

In other news, CFO Gianluca Romano sold 49,984 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $772.16, for a total value of $38,595,645.44. Following the completion of the sale, the chief financial officer owned 70,756 shares in the company, valued at $54,634,952.96. This represents a 41.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP John Morris sold 9,354 shares of the firm's stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $877.91, for a total transaction of $8,211,970.14. Following the transaction, the executive vice president directly owned 22,693 shares in the company, valued at $19,922,411.63. The trade was a 29.19% decrease in their ownership of the stock. 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 three months, insiders have sold 466,959 shares of company stock worth $378,840,741. Company insiders own 0.51% of the company's stock.

About Seagate Technology

Seagate Technology Holdings plc NASDAQ: STX is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.

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