Cibc World Market Inc. Boosts Holdings in Seagate Technology Holdings PLC $STX

Cibc World Market Inc. lifted its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 4.1% during the third quarter, HoldingsChannel reports. The firm owned 59,458 shares of the data storage provider’s stock after purchasing an additional 2,338 shares during the quarter. Cibc World Market Inc.’s holdings in Seagate Technology were worth $14,036,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in STX. Caprock Group LLC acquired a new position in Seagate Technology in the third quarter worth about $3,439,000. Vision Financial Markets LLC grew its position in shares of Seagate Technology by 341.7% in the 3rd quarter. Vision Financial Markets LLC now owns 5,300 shares of the data storage provider’s stock worth $1,251,000 after acquiring an additional 4,100 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in shares of Seagate Technology by 10.6% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 4,206 shares of the data storage provider’s stock worth $993,000 after acquiring an additional 402 shares in the last quarter. Baader Bank Aktiengesellschaft bought a new stake in shares of Seagate Technology in the 3rd quarter valued at approximately $1,296,000. Finally, Truefg LLC acquired a new stake in shares of Seagate Technology during the 3rd quarter valued at approximately $325,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Rosenblatt Securities boosted their target price on shares of Seagate Technology from $370.00 to $500.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Loop Capital lifted their price target on shares of Seagate Technology from $465.00 to $700.00 and gave the company a “buy” rating in a report on Monday. Citigroup increased their price objective on shares of Seagate Technology from $460.00 to $480.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Sanford C. Bernstein lifted their target price on Seagate Technology from $275.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Finally, The Goldman Sachs Group upped their target price on Seagate Technology from $310.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Eighteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average target price of $444.09.

Insider Activity at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $272.91, for a total transaction of $204,682.50. Following the sale, the director owned 5,601 shares of the company’s stock, valued at $1,528,568.91. The trade was a 11.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $429.27, for a total transaction of $8,585,400.00. Following the completion of the transaction, the chief executive officer directly owned 410,056 shares in the company, valued at $176,024,739.12. This represents a 4.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 83,955 shares of company stock worth $29,925,749 in the last three months. Insiders own 0.79% of the company’s stock.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $431.17 on Friday. The firm’s 50 day moving average is $332.51 and its two-hundred day moving average is $255.40. The firm has a market capitalization of $94.03 billion, a P/E ratio of 48.77, a PEG ratio of 0.91 and a beta of 1.62. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $459.84.

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

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th will be paid a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $2.96 annualized dividend and a yield of 0.7%. Seagate Technology’s dividend payout ratio (DPR) 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.