Franklin Resources Inc. Sells 716,189 Shares of Seagate Technology Holdings PLC $STX

Franklin Resources Inc. trimmed its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 8.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,067,216 shares of the data storage provider’s stock after selling 716,189 shares during the period. Franklin Resources Inc. owned 3.78% of Seagate Technology worth $1,904,347,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. National Pension Service lifted its stake in shares of Seagate Technology by 28.0% during the 3rd quarter. National Pension Service now owns 250,121 shares of the data storage provider’s stock worth $59,044,000 after buying an additional 54,722 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. acquired a new position in Seagate Technology in the 3rd quarter valued at about $1,864,000. Central Asset Investments & Management Holdings HK Ltd raised its holdings in Seagate Technology by 185.8% in the 2nd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 18,734 shares of the data storage provider’s stock valued at $2,704,000 after acquiring an additional 12,178 shares during the period. Estate Counselors LLC bought a new position in Seagate Technology in the 3rd quarter valued at about $2,557,000. Finally, Vision Financial Markets LLC lifted its position in Seagate Technology by 341.7% during the third quarter. Vision Financial Markets LLC now owns 5,300 shares of the data storage provider’s stock worth $1,251,000 after acquiring an additional 4,100 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on STX shares. BNP Paribas Exane boosted their price objective on Seagate Technology from $430.00 to $530.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Rosenblatt Securities lifted their price target on Seagate Technology from $370.00 to $500.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Jefferies Financial Group restated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, February 4th. KeyCorp set a $500.00 price objective on Seagate Technology in a report on Wednesday, January 28th. Finally, TD Cowen increased their price objective on Seagate Technology from $340.00 to $500.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $447.35.

Insider Buying and Selling

In other news, EVP Kian Fatt Chong sold 5,846 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $416.48, for a total value of $2,434,742.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jay L. Geldmacher sold 925 shares of the company’s stock in a transaction that occurred 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 sale, the director directly owned 223 shares of the company’s stock, valued at approximately $99,908.46. This trade represents a 80.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 89,051 shares of company stock worth $34,430,409. 0.79% of the stock is owned by company insiders.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $384.29 on Wednesday. The business has a fifty day moving average price of $372.13 and a two-hundred day moving average price of $287.65. The stock has a market capitalization of $83.80 billion, a PE ratio of 43.47, a P/E/G ratio of 0.83 and a beta of 1.61. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72. 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 issued its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.73 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.Seagate Technology’s revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the business earned $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, equities analysts predict that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, March 25th. Seagate Technology’s dividend payout ratio (DPR) is currently 33.48%.

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.