WCM Investment Management LLC Makes New Investment in Seagate Technology Holdings PLC $STX

WCM Investment Management LLC purchased a new stake in Seagate Technology Holdings PLC (NASDAQ:STX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,182,949 shares of the data storage provider’s stock, valued at approximately $1,187,621,000. Seagate Technology accounts for about 2.5% of WCM Investment Management LLC’s holdings, making the stock its 15th biggest position. WCM Investment Management LLC owned 2.43% of Seagate Technology as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new position in Seagate Technology in the second quarter worth about $197,027,000. Boston Partners bought a new stake in shares of Seagate Technology in the 2nd quarter valued at approximately $193,500,000. Soroban Capital Partners LP raised its holdings in shares of Seagate Technology by 1,468.1% in the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after buying an additional 1,327,197 shares in the last quarter. Maple Rock Capital Partners Inc. lifted its position in shares of Seagate Technology by 85.3% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 1,131,752 shares of the data storage provider’s stock worth $163,346,000 after buying an additional 520,846 shares during the period. Finally, State Street Corp lifted its position in shares of Seagate Technology by 5.0% during the 2nd quarter. State Street Corp now owns 9,001,365 shares of the data storage provider’s stock worth $1,305,499,000 after buying an additional 432,455 shares during the period. 92.87% of the stock is owned by institutional investors.

Insider Activity at Seagate Technology

In related news, EVP Ban Seng Teh sold 20,195 shares of Seagate Technology stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $442.29, for a total transaction of $8,932,046.55. Following the completion of the sale, the executive vice president directly owned 3,092 shares of the company’s stock, valued at approximately $1,367,560.68. This trade represents a 86.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP James Ci Lee sold 673 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $348.85, for a total value of $234,776.05. Following the transaction, the executive vice president owned 257 shares in the company, valued at $89,654.45. The trade was a 72.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 123,976 shares of company stock worth $38,364,978 in the last quarter. 0.79% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

STX has been the subject of several recent analyst reports. Fox Advisors increased their price objective on Seagate Technology from $245.00 to $270.00 in a research note on Wednesday, October 29th. Wells Fargo & Company increased their target price on shares of Seagate Technology from $360.00 to $450.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 28th. Zacks Research lowered shares of Seagate Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. BNP Paribas Exane raised shares of Seagate Technology from a “neutral” rating to an “outperform” rating and set a $380.00 price objective for the company in a report on Wednesday, January 21st. Finally, KeyCorp set a $500.00 target price on shares of Seagate Technology in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $417.57.

Seagate Technology Stock Performance

Shares of STX opened at $432.95 on Tuesday. The company has a market cap of $92.46 billion, a PE ratio of 48.98, a price-to-earnings-growth ratio of 0.94 and a beta of 1.62. The firm has a 50-day moving average of $308.25 and a 200-day moving average of $241.71. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $457.84. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.34. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.73 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. Seagate Technology’s revenue was up 21.5% on a year-over-year basis. During the same period last year, the business posted $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, equities analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be given a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $2.96 annualized dividend and a dividend yield of 0.7%. Seagate Technology’s dividend payout ratio is presently 33.48%.

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.