Raiffeisen Bank International AG lessened its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) by 28.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,702 shares of the data storage provider’s stock after selling 2,249 shares during the quarter. Raiffeisen Bank International AG’s holdings in Seagate Technology were worth $5,523,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Rakuten Securities Inc. grew its position in shares of Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 168 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 15 shares during the last quarter. Quarry LP purchased a new stake in Seagate Technology in the 4th quarter valued at approximately $31,000. WealthCollab LLC increased its position in Seagate Technology by 27.4% during the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after buying an additional 20 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in Seagate Technology during the fourth quarter worth $37,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on STX shares. Sanford C. Bernstein restated an “outperform” rating and issued a $1,350.00 target price on shares of Seagate Technology in a report on Wednesday, July 29th. China Renaissance boosted their price objective on shares of Seagate Technology from $802.00 to $983.00 in a research report on Friday, June 12th. Wells Fargo & Company upped their price objective on shares of Seagate Technology from $1,100.00 to $1,180.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Evercore lifted their target price on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Finally, Morgan Stanley increased their price target on Seagate Technology from $1,035.00 to $1,187.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $986.00.
Seagate Technology Price Performance
STX opened at $798.61 on Friday. Seagate Technology Holdings PLC has a 52-week low of $175.82 and a 52-week high of $1,145.00. The company has a 50 day moving average of $852.94 and a two-hundred day moving average of $708.76. The company has a market cap of $181.00 billion, a P/E ratio of 57.54 and a beta of 2.06. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56.
Seagate Technology (NASDAQ:STX – Get Free Report) last issued its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter last year, the firm posted $2.59 EPS. The business’s revenue for the quarter was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, analysts expect that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current year.
Seagate Technology Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Thursday, September 24th. Seagate Technology’s payout ratio is currently 21.33%.
Insider Buying and Selling
In related news, CEO William Mosley sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $816.28, for a total transaction of $24,488,400.00. Following the sale, the chief executive officer directly owned 295,168 shares in the company, valued at approximately $240,939,735.04. This trade represents a 9.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Teh sold 9,862 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $852.97, for a total value of $8,411,990.14. Following the completion of the transaction, the executive vice president owned 5,210 shares of the company’s stock, valued at approximately $4,443,973.70. This represents a 65.43% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 191,765 shares of company stock worth $161,865,249. Company insiders own 0.79% of the company’s stock.
About Seagate Technology
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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