BTC Capital Management Inc. Cuts Position in Seagate Technology Holdings PLC $STX

BTC Capital Management Inc. reduced its position in Seagate Technology Holdings PLC (NASDAQ:STX) by 14.6% in the 3rd quarter, Holdings Channel reports. The firm owned 27,396 shares of the data storage provider’s stock after selling 4,702 shares during the quarter. BTC Capital Management Inc.’s holdings in Seagate Technology were worth $6,467,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in STX. Balboa Wealth Partners acquired a new stake in shares of Seagate Technology in the third quarter valued at $370,000. Affinity Wealth Management LLC lifted its position in Seagate Technology by 429.0% in the third quarter. Affinity Wealth Management LLC now owns 29,237 shares of the data storage provider’s stock valued at $6,902,000 after purchasing an additional 23,710 shares during the period. Assetmark Inc. grew its position in Seagate Technology by 15.5% during the third quarter. Assetmark Inc. now owns 3,609 shares of the data storage provider’s stock worth $852,000 after buying an additional 484 shares during the period. Public Sector Pension Investment Board grew its position in shares of Seagate Technology by 11.5% in the third quarter. Public Sector Pension Investment Board now owns 22,474 shares of the data storage provider’s stock valued at $5,305,000 after purchasing an additional 2,319 shares during the last quarter. Finally, Ground Swell Capital LLC purchased a new position in Seagate Technology in the 3rd quarter valued at about $357,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Activity at Seagate Technology

In related news, 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 completion of the sale, the executive vice president directly owned 257 shares in the company, valued at $89,654.45. This represents a 72.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jay L. Geldmacher sold 925 shares of the stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $448.02, for a total value of $414,418.50. Following the completion of the sale, the director directly owned 223 shares of the company’s stock, valued at approximately $99,908.46. The trade was a 80.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 83,955 shares of company stock valued at $29,925,749 in the last quarter. Insiders own 0.79% of the company’s stock.

Seagate Technology Stock Down 1.2%

Shares of NASDAQ STX opened at $425.99 on Friday. The stock has a market cap of $92.90 billion, a P/E ratio of 48.19, a P/E/G ratio of 0.96 and a beta of 1.62. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $459.84. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12. The firm has a 50 day moving average price of $335.46 and a 200 day moving average price of $257.32.

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, beating the consensus estimate 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 previous year, the firm earned $2.03 EPS. Seagate Technology’s quarterly revenue 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 expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be paid 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 currently 33.48%.

Analyst Ratings Changes

STX has been the topic of a number of research reports. UBS Group raised their price objective on Seagate Technology from $385.00 to $440.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. KeyCorp set a $500.00 price objective on Seagate Technology in a research note on Wednesday, January 28th. China Renaissance boosted their target price on shares of Seagate Technology from $325.00 to $452.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Zacks Research cut Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Sanford C. Bernstein upped their target price on Seagate Technology from $275.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Eighteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and a consensus target price of $444.09.

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.