US Bancorp DE Purchases 1,850 Shares of Seagate Technology Holdings PLC $STX

Key Points

• US Bancorp DE increased its stake in Seagate Technology by 8.8%, acquiring an additional 1,850 shares, bringing its total holdings to 22,988 shares valued at $3.32 million.
• A number of analysts have raised their price targets for Seagate Technology, with Goldman Sachs setting a new target at $270 and Evercore ISI at $330, both rating the stock as a "buy".
• Seagate Technology recently announced a quarterly dividend of $0.72 per share, resulting in an annualized yield of 1.4% and a payout ratio of approximately 42.54%.

US Bancorp DE raised its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 8.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,988 shares of the data storage provider's stock after acquiring an additional 1,850 shares during the quarter. US Bancorp DE's holdings in Seagate Technology were worth $3,318,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Quarry Hill Advisors LLC bought a new stake in Seagate Technology during the 2nd quarter valued at $292,000. Kingswood Wealth Advisors LLC boosted its position in shares of Seagate Technology by 40.2% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 9,462 shares of the data storage provider's stock worth $1,366,000 after purchasing an additional 2,715 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in shares of Seagate Technology in the 2nd quarter worth $485,000. Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in shares of Seagate Technology in the 2nd quarter worth $202,000. Finally, Confluence Wealth Services Inc. acquired a new stake in shares of Seagate Technology in the 2nd quarter worth $238,000. Institutional investors own 92.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. The Goldman Sachs Group raised their price objective on Seagate Technology from $170.00 to $270.00 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. Bank of America raised their price objective on Seagate Technology from $215.00 to $255.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Wells Fargo & Company raised their price objective on Seagate Technology from $160.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Monday. Evercore ISI raised their price objective on Seagate Technology from $160.00 to $330.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Seagate Technology in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Seagate Technology currently has an average rating of "Moderate Buy" and an average target price of $214.89.

Insider Transactions at Seagate Technology

In related news, insider James Ci Lee sold 3,509 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $154.74, for a total value of $542,982.66. Following the transaction, the insider owned 1,288 shares of the company's stock, valued at $199,305.12. This represents a 73.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ban Seng Teh sold 5,905 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $155.00, for a total value of $915,275.00. Following the completion of the transaction, the executive vice president directly owned 6,147 shares in the company, valued at $952,785. This trade represents a 49.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,210 shares of company stock valued at $14,146,016 over the last ninety days. Company insiders own 0.79% of the company's stock.

Seagate Technology Trading Down 3.6%

Seagate Technology stock opened at $211.63 on Wednesday. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $264.83. The stock's fifty day simple moving average is $193.59 and its 200-day simple moving average is $142.56. The firm has a market capitalization of $45.07 billion, a P/E ratio of 31.26, a P/E/G ratio of 0.98 and a beta of 1.63.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, topping analysts' consensus estimates of $2.45 by $0.14. The business had revenue of $2.44 billion for 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 company's revenue was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Sell-side analysts predict that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Tuesday, September 30th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 30th. Seagate Technology's dividend payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.