Eminence Capital LP Acquires Shares of 38,843 Seagate Technology Holdings PLC $STX

Eminence Capital LP bought a new position in Seagate Technology Holdings PLC (NASDAQ:STX) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 38,843 shares of the data storage provider’s stock, valued at approximately $9,169,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rakuten Securities Inc. increased 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 during the last quarter. MTM Investment Management LLC acquired a new position in Seagate Technology during the second quarter worth $29,000. First Horizon Corp purchased a new stake in Seagate Technology in the 3rd quarter valued at $33,000. Raiffeisen Bank International AG acquired a new stake in shares of Seagate Technology in the 3rd quarter worth $33,000. Finally, Physician Wealth Advisors Inc. increased its stake in shares of Seagate Technology by 43.7% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock worth $35,000 after acquiring an additional 45 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $285.56, for a total value of $5,711,200.00. Following the completion of the sale, the chief executive officer owned 429,895 shares in the company, valued at approximately $122,760,816.20. This trade represents a 4.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Ci Lee sold 673 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The shares were 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 approximately $89,654.45. The trade was a 72.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 89,051 shares of company stock worth $34,430,409 in the last three months. 0.79% of the stock is currently owned by corporate insiders.

Seagate Technology Stock Up 2.6%

Shares of NASDAQ:STX opened at $383.71 on Friday. The company has a market capitalization of $83.68 billion, a price-to-earnings ratio of 43.41, a PEG ratio of 0.85 and a beta of 1.61. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $459.84. The business has a 50-day moving average price of $378.24 and a 200 day moving average price of $291.33. 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 (NASDAQ:STX) last posted its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter in the prior year, the company posted $2.03 earnings per share. Seagate Technology’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. Sell-side analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.8%. Seagate Technology’s dividend payout ratio (DPR) is presently 33.48%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on STX. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a research report on Monday, December 29th. The Goldman Sachs Group raised 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. Bank of America lifted their target price on shares of Seagate Technology from $320.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 17th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Seagate Technology in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average price target of $447.35.

Seagate Technology Company 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.