Heffernan Advisory Inc. lifted its holdings in Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) by 83.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,650 shares of the data storage provider’s stock after purchasing an additional 750 shares during the period. Seagate Technology comprises approximately 1.0% of Heffernan Advisory Inc.’s holdings, making the stock its 10th biggest position. Heffernan Advisory Inc.’s holdings in Seagate Technology were worth $1,522,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Retirement Wealth Solutions LLC raised its holdings in Seagate Technology by 70.6% in the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 12 shares during the period. Bridgewater Advisors Inc. lifted its position in shares of Seagate Technology by 0.9% in the first quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock valued at $579,000 after acquiring an additional 13 shares in the last quarter. Baker Tilly Wealth Management LLC raised its position in shares of Seagate Technology by 4.6% during the third quarter. Baker Tilly Wealth Management LLC now owns 319 shares of the data storage provider’s stock valued at $295,000 after buying an additional 14 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Seagate Technology by 23.1% in the first 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. Finally, Blalock Williams LLC increased its stake in Seagate Technology by 2.6% in the 2nd quarter. Blalock Williams LLC now owns 636 shares of the data storage provider’s stock worth $614,000 after acquiring an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.
Seagate Technology Trading Down 2.3%
Seagate Technology stock traded down $17.41 during mid-day trading on Tuesday, hitting $735.84. The company’s stock had a trading volume of 4,737,513 shares, compared to its average volume of 4,375,412. The stock’s fifty day moving average is $853.54 and its two-hundred day moving average is $795.71. Seagate Technology Holdings PLC has a 1 year low of $209.00 and a 1 year high of $1,145.00. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $167.32 billion, a PE ratio of 53.01 and a beta of 2.06.
Seagate Technology Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Thursday, September 24th. Seagate Technology’s dividend payout ratio (DPR) is presently 21.33%.
Key Headlines Impacting Seagate Technology
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: Analysts have not reduced their earnings estimates following Seagate’s recent selloff, while the average price target implies substantial upside from current levels. This suggests Wall Street largely continues to expect strong demand for Seagate’s hard drives, which support cloud infrastructure and AI data storage. Rapid Growth, High Volatility, and Near 50% Upside Confound Seagate Technology Investors
- Positive Sentiment: Longer-term coverage remains bullish on Seagate’s role in the AI infrastructure buildout. The company’s hard-drive business may benefit from rising data volumes without requiring exposure to the memory-chip manufacturing race. If You Invest $1,000 in Seagate Today, Here’s What It Could Be Worth by 2030
- Neutral Sentiment: Seagate recently underperformed other major technology stocks, highlighting investor caution after a powerful prior rally. The disparity between market performance and unchanged earnings expectations could increase volatility until the company provides fresh operating updates. Seagate Technology Holdings PLC stock underperforms Monday when compared to competitors
- Negative Sentiment: A selloff in Asian memory stocks, led by SK Hynix, spread to U.S. storage companies. News that Chinese memory producer CXMT is making progress on competing technology raised concerns about future industry competition and pressured Seagate despite the company not producing DRAM. SanDisk Drops 6% in Memory Selloff Despite Making No DRAM; Seagate Slides 4%
- Negative Sentiment: Investors are also reassessing high-growth technology shares amid rising global bond yields and tighter financial conditions. That backdrop makes Seagate’s elevated valuation and historically high volatility more vulnerable to profit-taking, even with strong expected earnings growth.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on STX shares. Melius Research initiated coverage on shares of Seagate Technology in a report on Monday, June 29th. They issued a “buy” rating and a $1,600.00 price target for the company. Argus upped their price objective on shares of Seagate Technology from $750.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Rosenblatt Securities upped their price objective on Seagate Technology from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Wedbush upped their target price on Seagate Technology from $825.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Finally, Bank of America raised their target price on Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $986.00.
Get Our Latest Stock Analysis on Seagate Technology
Insider Activity
In other Seagate Technology news, CEO William Mosley sold 11,002 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $935.60, for a total transaction of $10,293,471.20. Following the sale, the chief executive officer directly owned 362,108 shares of the company’s stock, valued at $338,788,244.80. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a document filed 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, EVP Ban Teh sold 52,730 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total transaction of $41,239,078.40. Following the transaction, the executive vice president owned 5,810 shares in the company, valued at approximately $4,543,884.80. The trade was a 90.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 466,959 shares of company stock worth $378,840,741 over the last quarter. Insiders own 0.51% of the company’s stock.
Seagate Technology Profile
Seagate Technology Holdings plc is a data storage technology company that designs, manufactures and supplies solutions for storing, managing and accessing digital information. Its product portfolio is centered on hard disk drives (HDDs), including high-capacity drives used in cloud data centers, enterprise environments, surveillance systems, network-attached storage and personal computing.
The company also offers solid-state drives (SSDs), storage systems, external storage products and related services.
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