Citizens Financial Group Inc. RI Acquires New Position in Seagate Technology Holdings PLC $STX

Citizens Financial Group Inc. RI bought a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 2,281 shares of the data storage provider’s stock, valued at approximately $329,000.

A number of other hedge funds have also bought and sold shares of STX. Harbor Asset Planning Inc. acquired a new stake in shares of Seagate Technology during the second quarter worth $27,000. Zions Bancorporation National Association UT purchased a new position in Seagate Technology in the 1st quarter worth $42,000. GoalVest Advisory LLC lifted its position in Seagate Technology by 30.6% during the 2nd quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider’s stock worth $46,000 after acquiring an additional 75 shares during the period. Costello Asset Management INC purchased a new stake in Seagate Technology during the 1st quarter valued at about $47,000. Finally, Trust Co. of Toledo NA OH acquired a new position in shares of Seagate Technology in the second quarter valued at about $57,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $259.14 on Thursday. The company has a market capitalization of $55.34 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 1.17 and a beta of 1.63. The company’s fifty day moving average price is $238.04 and its 200 day moving average price is $174.64. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $297.88.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, October 28th. The data storage provider reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.21. Seagate Technology had a net margin of 17.92% and a negative return on equity of 297.87%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the company earned $1.58 earnings per share. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. Seagate Technology has set its Q2 2026 guidance at 2.550-2.950 EPS. On average, equities analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 24th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, December 24th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s payout ratio is currently 38.00%.

Analyst Upgrades and Downgrades

STX has been the subject of a number of research reports. TD Cowen lifted their target price on Seagate Technology from $270.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Mizuho raised their price target on shares of Seagate Technology from $245.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. UBS Group dropped their price objective on shares of Seagate Technology from $235.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Wells Fargo & Company increased their price objective on shares of Seagate Technology from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Finally, The Goldman Sachs Group upped their price target on shares of Seagate Technology from $170.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $281.36.

Insider Activity at Seagate Technology

In related news, EVP John Christopher Morris sold 15,347 shares of Seagate Technology stock in a transaction on Friday, September 12th. The shares were sold at an average price of $195.80, for a total value of $3,004,942.60. Following the sale, the executive vice president owned 9,843 shares of the company’s stock, valued at approximately $1,927,259.40. This trade represents a 60.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kian Fatt Chong sold 7,078 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $272.14, for a total transaction of $1,926,206.92. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 131,261 shares of company stock valued at $34,210,708 in the last ninety days. 0.79% of the stock is currently owned by company insiders.

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.