Parallel Advisors LLC lifted its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) by 39.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,054 shares of the data storage provider’s stock after acquiring an additional 1,151 shares during the quarter. Parallel Advisors LLC’s holdings in Seagate Technology were worth $585,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the stock. Insight Wealth Strategies LLC lifted its position in shares of Seagate Technology by 30.1% during the 2nd quarter. Insight Wealth Strategies LLC now owns 55,136 shares of the data storage provider’s stock worth $7,997,000 after buying an additional 12,762 shares during the last quarter. Bangor Savings Bank lifted its position in shares of Seagate Technology by 2.3% during the 2nd quarter. Bangor Savings Bank now owns 7,578 shares of the data storage provider’s stock worth $1,094,000 after buying an additional 171 shares during the last quarter. TrueWealth Advisors LLC acquired a new position in shares of Seagate Technology in the 2nd quarter valued at $703,000. MBB Public Markets I LLC acquired a new position in shares of Seagate Technology in the 1st quarter valued at $300,000. Finally, United Services Automobile Association acquired a new position in shares of Seagate Technology in the 1st quarter valued at $385,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.
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Wall Street Analysts Forecast Growth
STX has been the topic of a number of recent research reports. UBS Group lifted their target price on shares of Seagate Technology from $85.00 to $155.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Cantor Fitzgerald raised shares of Seagate Technology from a “neutral” rating to an “overweight” rating and set a $175.00 target price on the stock in a report on Wednesday, July 30th. Barclays lifted their target price on shares of Seagate Technology from $180.00 to $200.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Sanford C. Bernstein initiated coverage on shares of Seagate Technology in a report on Tuesday. They issued an “outperform” rating and a $250.00 target price on the stock. Finally, The Goldman Sachs Group began coverage on shares of Seagate Technology in a report on Thursday, July 10th. They issued a “buy” rating and a $170.00 target price on the stock. Fifteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $177.95.
Check Out Our Latest Report on STX
Insider Activity at Seagate Technology
In other Seagate Technology news, insider James Ci Lee sold 1,116 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $153.36, for a total transaction of $171,149.76. Following the sale, the insider directly owned 257 shares of the company’s stock, valued at $39,413.52. This trade represents a 81.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Christopher Morris sold 377 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $211.26, for a total transaction of $79,645.02. Following the transaction, the executive vice president owned 13,238 shares in the company, valued at approximately $2,796,659.88. The trade was a 2.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,935 shares of company stock worth $12,289,616 over the last three months. Company insiders own 0.79% of the company’s stock.
Seagate Technology Stock Up 2.1%
NASDAQ:STX opened at $221.23 on Friday. The stock has a market cap of $47.12 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 1.25 and a beta of 1.53. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $221.66. The firm’s fifty day simple moving average is $166.69 and its 200-day simple moving average is $125.54.
Seagate Technology (NASDAQ:STX – Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.14. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The firm’s revenue was up 29.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Equities analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.
Seagate Technology Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology’s dividend payout ratio (DPR) is currently 42.54%.
Seagate Technology Company Profile
(Free Report)
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.
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