Seagate Technology Holdings PLC $STX Shares Sold by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC reduced its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 1.6% during the 4th quarter, Holdings Channel reports. The fund owned 75,001 shares of the data storage provider’s stock after selling 1,224 shares during the quarter. Seagate Technology comprises 1.3% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 20th largest holding. Zweig DiMenna Associates LLC’s holdings in Seagate Technology were worth $20,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in STX. Salomon & Ludwin LLC boosted its stake in Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 51 shares in the last quarter. Rakuten Securities Inc. boosted its stake in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. bought a new position in Seagate Technology during the 4th quarter valued at $28,000. Avion Wealth boosted its stake in Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 79 shares in the last quarter. Finally, Concord Wealth Partners bought a new position in Seagate Technology during the 4th quarter valued at $28,000. 92.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on STX. BNP Paribas Exane increased their price target on Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Wall Street Zen raised Seagate Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. The Goldman Sachs Group increased their price target on Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Loop Capital increased their price target on Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Bank of America increased their price target on Seagate Technology from $840.00 to $900.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and an average price target of $746.63.

Seagate Technology Stock Performance

STX opened at $879.80 on Friday. The firm has a market cap of $197.28 billion, a PE ratio of 83.47 and a beta of 1.98. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The business has a fifty day simple moving average of $612.03 and a 200-day simple moving average of $432.02. Seagate Technology Holdings PLC has a fifty-two week low of $116.28 and a fifty-two week high of $905.39.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.59. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company’s revenue was up 44.1% compared to the same quarter last year. During the same period last year, the company posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities analysts predict that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be paid a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. Seagate Technology’s dividend payout ratio (DPR) is currently 28.08%.

Insider Buying and Selling at Seagate Technology

In other news, CFO Gianluca Romano sold 1,902 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $770.00, for a total value of $1,464,540.00. Following the completion of the sale, the chief financial officer owned 40,945 shares of the company’s stock, valued at $31,527,650. This trade represents a 4.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $817.28, for a total value of $6,540,691.84. Following the completion of the sale, the executive vice president directly owned 3,691 shares of the company’s stock, valued at approximately $3,016,580.48. This trade represents a 68.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 142,437 shares of company stock worth $86,093,575. 0.79% of the stock is owned by insiders.

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.