Los Angeles Capital Management LLC trimmed its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 610,610 shares of the data storage provider’s stock after selling 41,361 shares during the period. Los Angeles Capital Management LLC’s holdings in Seagate Technology were worth $163,848,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Seagate Technology by 1.6% during the third quarter. Vanguard Group Inc. now owns 28,140,287 shares of the data storage provider’s stock valued at $6,642,796,000 after buying an additional 442,749 shares in the last quarter. State Street Corp lifted its position in Seagate Technology by 3.1% during the third quarter. State Street Corp now owns 9,276,278 shares of the data storage provider’s stock valued at $2,196,420,000 after buying an additional 274,913 shares in the last quarter. Geode Capital Management LLC lifted its position in Seagate Technology by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock valued at $1,343,683,000 after buying an additional 234,436 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Seagate Technology by 1,072.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock valued at $696,262,000 after purchasing an additional 2,697,957 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Seagate Technology by 1,510.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock valued at $553,125,000 after purchasing an additional 1,883,769 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.
Seagate Technology Stock Down 8.5%
Shares of NASDAQ:STX opened at $847.47 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The company has a fifty day simple moving average of $661.50 and a 200 day simple moving average of $454.23. The firm has a market cap of $190.03 billion, a PE ratio of 80.41 and a beta of 2.04. Seagate Technology Holdings PLC has a 12-month low of $124.63 and a 12-month high of $966.80.
Seagate Technology Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Wednesday, June 24th. Seagate Technology’s payout ratio is 28.08%.
Insiders Place Their Bets
In related news, Director Prat Bhatt sold 1,000 shares of Seagate Technology stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $929.88, for a total value of $929,880.00. Following the completion of the sale, the director owned 12,869 shares in the company, valued at approximately $11,966,625.72. The trade was a 7.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction on Monday, June 1st. The stock was sold at an average price of $885.33, for a total transaction of $663,997.50. Following the completion of the sale, the director owned 4,101 shares of the company’s stock, valued at approximately $3,630,738.33. This trade represents a 15.46% 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 quarter, insiders have sold 155,187 shares of company stock valued at $108,267,701. 0.79% of the stock is owned by insiders.
Key Seagate Technology News
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: Several recent articles and analyst notes highlighted Seagate as a beneficiary of surging AI storage demand, data-center buildout, and tighter industry supply, which has helped improve the investment case and lift price targets. Zacks Analyst Blog Highlights Micron, Sandisk, Seagate, Dell and Comfort Systems
- Positive Sentiment: Analysts are increasingly framing STX as an AI-storage winner, with one recent report saying fair value estimates were reset higher as investors price in stronger demand for higher-capacity drives and improved industry discipline. How The Seagate (STX) Investment Story Is Shifting With AI Storage Demand And New Targets
- Positive Sentiment: Seagate was also included in a “buy these growth stocks” theme around massive AI infrastructure spending, reinforcing investor optimism tied to the company’s storage exposure. Buy These 5 Growth Stocks in June Amid Massive AI Infrastructure Boost
- Positive Sentiment: Recent coverage also noted that Seagate’s quarterly results beat expectations and the company raised guidance, which continues to support the bullish narrative around earnings momentum. Shankar Arumugavelu Sells 1,000 Shares of Seagate Technology (NASDAQ:STX) Stock
- Neutral Sentiment: A director sold 1,000 shares at $927.68, a transaction that is not huge in size but can still modestly weigh on sentiment because it comes after a strong run in the stock. Shankar Arumugavelu Sells 1,000 Shares of Seagate Technology (NASDAQ:STX) Stock
- Neutral Sentiment: Broader memory-chip weakness in peers like Micron and SanDisk suggests some cooling in the sector after a sharp run-up, which could spill over into Seagate even though its fundamentals remain strong. Memory-Chip Stocks Micron, Sandisk Get Their Wings Clipped
Analyst Ratings Changes
A number of research firms have recently issued reports on STX. Susquehanna lifted their price objective on shares of Seagate Technology from $485.00 to $615.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. lifted their price objective on shares of Seagate Technology from $525.00 to $775.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Loop Capital lifted their price objective on shares of Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Sanford C. Bernstein lifted their price objective on shares of Seagate Technology from $620.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Finally, Mizuho lifted their price objective on shares of Seagate Technology from $565.00 to $700.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average price target of $772.04.
Read Our Latest Research Report on STX
Seagate Technology 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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