Pallas Capital Advisors LLC acquired a new stake in Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,229 shares of the data storage provider’s stock, valued at approximately $755,000.
Other large investors also recently bought and sold shares of the company. Financiere des Professionnels Fonds d investissement inc. purchased a new stake in Seagate Technology during the 2nd quarter worth approximately $1,623,000. Berkshire Bank grew its position in Seagate Technology by 14.0% in the second quarter. Berkshire Bank now owns 5,107 shares of the data storage provider’s stock worth $737,000 after acquiring an additional 628 shares during the period. Veracity Capital LLC boosted its position in shares of Seagate Technology by 5.8% during the second quarter. Veracity Capital LLC now owns 3,760 shares of the data storage provider’s stock worth $543,000 after buying an additional 206 shares during the period. Czech National Bank boosted its position in shares of Seagate Technology by 6.7% during the second quarter. Czech National Bank now owns 51,873 shares of the data storage provider’s stock worth $7,487,000 after buying an additional 3,248 shares during the period. Finally, Range Financial Group LLC boosted its position in shares of Seagate Technology by 1.4% during the second quarter. Range Financial Group LLC now owns 32,722 shares of the data storage provider’s stock worth $4,723,000 after buying an additional 442 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.
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Wall Street Analyst Weigh In
Several analysts have recently issued reports on the company. Cantor Fitzgerald upgraded Seagate Technology from a “neutral” rating to an “overweight” rating and set a $175.00 price objective on the stock in a research note on Wednesday, July 30th. Robert W. Baird lifted their target price on Seagate Technology from $120.00 to $188.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Susquehanna raised their price target on Seagate Technology from $68.00 to $80.00 and gave the stock a “negative” rating in a report on Wednesday, July 30th. The Goldman Sachs Group initiated coverage on Seagate Technology in a report on Thursday, July 10th. They set a “buy” rating and a $170.00 price target on the stock. Finally, UBS Group lifted their price objective on Seagate Technology from $85.00 to $155.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Fifteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $177.95.
Check Out Our Latest Research Report on STX
Seagate Technology Trading Up 2.1%
Shares of NASDAQ STX opened at $221.23 on Friday. The company has a market cap of $47.12 billion, a PE ratio of 32.68, a P/E/G ratio of 1.25 and a beta of 1.53. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $221.66. The stock has a 50 day simple moving average of $166.69 and a 200-day simple moving average of $125.54.
Seagate Technology (NASDAQ:STX – Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.14. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. The company’s quarterly revenue was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Sell-side analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.
Seagate Technology Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology’s dividend payout ratio is presently 42.54%.
Insider Activity
In other Seagate Technology news, insider James Ci Lee sold 1,116 shares of Seagate Technology stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $153.36, for a total value of $171,149.76. Following the transaction, the insider owned 257 shares in the company, valued at approximately $39,413.52. The trade was a 81.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John Christopher Morris sold 377 shares of Seagate Technology stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $211.26, for a total value of $79,645.02. Following the completion of the transaction, the executive vice president owned 13,238 shares in the company, valued at $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 a total of 75,935 shares of company stock valued at $12,289,616 in the last ninety days. 0.79% of the stock is owned by company insiders.
Seagate Technology 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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