Fisher Funds Management LTD Sells 12,106 Shares of Seagate Technology Holdings PLC $STX

Fisher Funds Management LTD lessened its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 39.9% during the 2nd quarter, Holdings Channel reports. The firm owned 18,225 shares of the data storage provider’s stock after selling 12,106 shares during the period. Fisher Funds Management LTD’s holdings in Seagate Technology were worth $2,630,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Linscomb Wealth Inc. bought a new position in shares of Seagate Technology in the 2nd quarter valued at about $261,000. Kovack Advisors Inc. boosted its stake in Seagate Technology by 60.5% during the 2nd quarter. Kovack Advisors Inc. now owns 3,997 shares of the data storage provider’s stock worth $577,000 after acquiring an additional 1,507 shares during the last quarter. IFG Advisory LLC boosted its stake in Seagate Technology by 3.1% during the 2nd quarter. IFG Advisory LLC now owns 4,764 shares of the data storage provider’s stock worth $688,000 after acquiring an additional 143 shares during the last quarter. Aljian Capital Management LLC bought a new position in Seagate Technology during the 2nd quarter worth approximately $237,000. Finally, Amalgamated Bank boosted its stake in Seagate Technology by 0.4% during the 2nd quarter. Amalgamated Bank now owns 30,072 shares of the data storage provider’s stock worth $4,340,000 after acquiring an additional 108 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

Shares of STX opened at $255.88 on Friday. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $280.35. The firm’s 50 day moving average price is $213.78 and its two-hundred day moving average price is $156.88. The firm has a market cap of $54.49 billion, a P/E ratio of 32.85, a PEG ratio of 1.17 and a beta of 1.63.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, October 28th. The data storage provider reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.21. Seagate Technology had a net margin of 17.92% and a negative return on equity of 297.87%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the firm posted $1.58 earnings per share. The business’s revenue was up 21.3% on a year-over-year basis. Seagate Technology has set its Q2 2026 guidance at 2.550-2.950 EPS. On average, sell-side analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, December 24th. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 dividend on an annualized basis and a yield of 1.2%. Seagate Technology’s payout ratio is presently 36.97%.

Insider Activity at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $249.90, for a total value of $4,998,000.00. Following the sale, the chief executive officer directly owned 485,668 shares in the company, valued at $121,368,433.20. This trade represents a 3.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Christopher Morris sold 15,347 shares of Seagate Technology stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $195.80, for a total transaction of $3,004,942.60. Following the completion of the sale, the executive vice president owned 9,843 shares in the company, valued at $1,927,259.40. This trade represents a 60.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 45,090 shares of company stock worth $9,759,648. Corporate insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on STX shares. Barclays lifted their price objective on shares of Seagate Technology from $200.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Rosenblatt Securities lifted their price objective on shares of Seagate Technology from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup lifted their price objective on shares of Seagate Technology from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday. Benchmark lifted their price objective on shares of Seagate Technology from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $280.00 price objective on shares of Seagate Technology in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average price target of $263.18.

About Seagate Technology

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.