Elevated Capital Advisors LLC reduced its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) by 57.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 3,251 shares of the data storage provider’s stock after selling 4,440 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Seagate Technology were worth $1,274,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in STX. Cornerstone Wealth Group LLC raised its stake in shares of Seagate Technology by 0.5% during the first quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider’s stock valued at $1,388,000 after acquiring an additional 19 shares during the last quarter. Gateway Investment Advisers LLC grew its stake in shares of Seagate Technology by 1.8% in the fourth quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider’s stock worth $385,000 after purchasing an additional 25 shares during the last quarter. Trajan Wealth LLC increased its holdings in Seagate Technology by 1.9% during the 4th quarter. Trajan Wealth LLC now owns 1,325 shares of the data storage provider’s stock valued at $365,000 after purchasing an additional 25 shares during the period. TSG Advice Partners LLC increased its holdings in Seagate Technology by 1.9% during the 1st quarter. TSG Advice Partners LLC now owns 1,448 shares of the data storage provider’s stock valued at $567,000 after purchasing an additional 27 shares during the period. Finally, Fortis Capital Management LLC raised its position in Seagate Technology by 1.1% during the 4th quarter. Fortis Capital Management LLC now owns 2,557 shares of the data storage provider’s stock valued at $704,000 after purchasing an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.
Seagate Technology Price Performance
STX opened at $890.09 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 market cap of $199.58 billion, a price-to-earnings ratio of 84.45 and a beta of 2.04. The stock has a fifty day simple moving average of $875.26 and a two-hundred day simple moving average of $568.33. Seagate Technology Holdings PLC has a 12-month low of $138.30 and a 12-month high of $1,145.00.
Seagate Technology Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $2.96 annualized dividend and a yield of 0.3%. Seagate Technology’s payout ratio is presently 28.08%.
Seagate Technology News Summary
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: Seagate and other storage names are rebounding after a sector selloff as investors refocus on AI-driven data center spending and storage demand. Seagate (STX) Stock Rebounds As AI Data Center Demand Lifts Storage Names
- Positive Sentiment: Analysts raised Seagate’s fair value estimate to $959.48 per share from $847.68, citing tighter HDD supply, AI storage demand, and pricing power from contract renewals. Seagate (STX) Stock Fair Value Rises After AI Storage Driven Analyst Target Increases
- Positive Sentiment: Recent market commentary says Seagate’s sharp run may not be over, with AI infrastructure demand and hyperscaler storage needs continuing to support the stock’s long-term story. Seagate’s 485% Run Isn’t Over and Our Target Proves It
- Neutral Sentiment: Susquehanna raised its price target to $775 from $615 but kept a neutral rating, suggesting the stock may already reflect some of the good news. Seagate Technology had its price target raised by Susquehanna from $615.00 to $775.00.
- Neutral Sentiment: Additional coverage and momentum-screen mentions from Zacks and other outlets reinforce that STX remains a favored AI/storage trade, though these are more supportive than catalyst-driven. AI Storage Tailwinds Lift STX Shares 506% in a Year: More Upside Left?
Insider Buying and Selling at Seagate Technology
In other news, CFO Gianluca Romano sold 903 shares of Seagate Technology stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $794,811.57. Following the completion of the transaction, the chief financial officer directly owned 42,860 shares in the company, valued at approximately $37,724,943.40. This trade represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Christopher Morris sold 1,364 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $1,200,579.16. Following the completion of the sale, the executive vice president directly owned 12,088 shares in the company, valued at approximately $10,639,736.72. This represents a 10.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 151,069 shares of company stock worth $126,191,753 in the last ninety days. 0.79% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
STX has been the subject of several research analyst reports. Sanford C. Bernstein increased their price objective on Seagate Technology from $620.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. TD Cowen upped their target price on Seagate Technology from $500.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. raised their price target on Seagate Technology from $775.00 to $920.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Fox Advisors cut shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. Finally, Barclays boosted their price objective on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Twenty-one investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $886.92.
Check Out Our Latest Stock Report on Seagate Technology
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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