DigitalBridge Group Inc. Sells 55,325 Shares of Seagate Technology Holdings PLC $STX

DigitalBridge Group Inc. decreased its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 21.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 198,455 shares of the data storage provider’s stock after selling 55,325 shares during the quarter. Seagate Technology accounts for approximately 3.7% of DigitalBridge Group Inc.’s investment portfolio, making the stock its 6th biggest holding. DigitalBridge Group Inc.’s holdings in Seagate Technology were worth $46,847,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STX. Rakuten Securities Inc. lifted its holdings in shares of Seagate Technology by 884.2% in the second 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. MTM Investment Management LLC bought a new stake in Seagate Technology during the second quarter worth $29,000. First Horizon Corp bought a new stake in Seagate Technology during the third quarter worth $33,000. Raiffeisen Bank International AG purchased a new stake in Seagate Technology in the 3rd quarter valued at $33,000. Finally, Physician Wealth Advisors Inc. lifted its stake in Seagate Technology by 43.7% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock valued at $35,000 after acquiring an additional 45 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

STX has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Seagate Technology from $360.00 to $450.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 28th. Bank of America raised their price target on shares of Seagate Technology from $320.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a report on Monday, December 29th. The Goldman Sachs Group upped their price objective on shares of Seagate Technology from $310.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Finally, Cantor Fitzgerald lifted their target price on shares of Seagate Technology from $500.00 to $650.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $447.35.

Insider Buying and Selling at Seagate Technology

In other news, Director Jay L. Geldmacher sold 925 shares of the company’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $448.02, for a total transaction of $414,418.50. Following the transaction, the director owned 223 shares of the company’s stock, valued at $99,908.46. This represents a 80.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kian Fatt Chong sold 5,846 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $416.48, for a total value of $2,434,742.08. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 89,051 shares of company stock valued at $34,430,409 in the last quarter. Insiders own 0.79% of the company’s stock.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $421.09 on Wednesday. The company has a market capitalization of $91.83 billion, a P/E ratio of 47.63, a price-to-earnings-growth ratio of 0.89 and a beta of 1.61. The company’s 50-day moving average is $382.23 and its 200 day moving average is $295.59. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $459.84.

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

Seagate Technology Announces Dividend

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

Seagate Technology Profile

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.