Kornitzer Capital Management Inc. KS Buys New Shares in Seagate Technology Holdings PLC $STX

Kornitzer Capital Management Inc. KS purchased a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 3,100 shares of the data storage provider’s stock, valued at approximately $447,000.

A number of other hedge funds have also recently added to or reduced their stakes in STX. Vanguard Group Inc. raised its position in shares of Seagate Technology by 2.7% during the first quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider’s stock worth $2,441,729,000 after purchasing an additional 769,009 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Seagate Technology by 12.9% in the first quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider’s stock valued at $1,607,321,000 after buying an additional 2,161,191 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Seagate Technology by 3.6% during the first quarter. Invesco Ltd. now owns 2,861,418 shares of the data storage provider’s stock valued at $243,077,000 after buying an additional 99,884 shares during the last quarter. Royal Bank of Canada increased its position in shares of Seagate Technology by 0.8% during the first quarter. Royal Bank of Canada now owns 1,628,941 shares of the data storage provider’s stock worth $138,378,000 after acquiring an additional 12,424 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Seagate Technology by 4.5% in the 1st quarter. Deutsche Bank AG now owns 1,181,460 shares of the data storage provider’s stock worth $100,365,000 after acquiring an additional 50,699 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Ratings Changes

STX has been the subject of a number of recent research reports. Susquehanna boosted their price objective on Seagate Technology from $68.00 to $80.00 and gave the stock a “negative” rating in a report on Wednesday, July 30th. TD Cowen upped their price target on Seagate Technology from $135.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Cantor Fitzgerald increased their price target on Seagate Technology from $175.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. Citigroup lifted their price objective on shares of Seagate Technology from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Finally, Benchmark upped their target price on shares of Seagate Technology from $165.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.65.

Insider Activity

In other news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $249.90, for a total transaction of $4,998,000.00. Following the completion of the sale, the chief executive officer owned 485,668 shares in the company, valued at $121,368,433.20. This trade represents a 3.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 5,905 shares of Seagate Technology stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $155.00, for a total transaction of $915,275.00. Following the completion of the sale, 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. Over the last ninety days, insiders sold 75,620 shares of company stock worth $14,464,056. 0.79% of the stock is owned by insiders.

Seagate Technology Trading Up 3.4%

STX stock opened at $234.12 on Monday. The stock has a market cap of $49.86 billion, a P/E ratio of 34.58, a P/E/G ratio of 1.03 and a beta of 1.63. The stock’s fifty day simple moving average is $204.69 and its two-hundred day simple moving average is $151.29. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $264.83.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.14. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The business’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Tuesday, September 30th. Seagate Technology’s payout ratio is presently 42.54%.

About Seagate Technology

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.