Great Lakes Advisors LLC Makes New Investment in Seagate Technology Holdings PLC $STX

Great Lakes Advisors LLC bought a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 869 shares of the data storage provider’s stock, valued at approximately $839,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Rakuten Securities Inc. lifted its holdings in shares of Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after buying an additional 168 shares during the period. Concord Wealth Partners bought a new stake in shares of Seagate Technology in the fourth quarter valued at about $28,000. Annis Gardner Whiting Capital Advisors LLC lifted its stake in Seagate Technology by 23.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 15 shares during the period. Quarry LP purchased a new stake in Seagate Technology in the fourth quarter worth about $31,000. Finally, WealthCollab LLC grew its holdings in Seagate Technology by 27.4% during the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Insider Activity at Seagate Technology

In related news, EVP Ban Seng Teh sold 7,361 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $920.80, for a total transaction of $6,778,008.80. Following the completion of the sale, the executive vice president owned 2,931 shares of the company’s stock, valued at $2,698,864.80. This represents a 71.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James Ci Lee sold 694 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $877.45, for a total transaction of $608,950.30. Following the completion of the sale, the executive vice president owned 347 shares of the company’s stock, valued at approximately $304,475.15. This trade represents a 66.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 133,650 shares of company stock valued at $116,077,574 over the last three months. Company insiders own 0.79% of the company’s stock.

Seagate Technology Price Performance

STX opened at $850.00 on Friday. The firm has a market capitalization of $192.65 billion, a PE ratio of 61.24 and a beta of 2.06. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. The business’s 50-day moving average is $893.23 and its two-hundred day moving average is $681.60. Seagate Technology Holdings PLC has a 1 year low of $154.22 and a 1 year high of $1,145.00.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating the consensus estimate of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same period in the prior year, the firm posted $2.59 earnings per share. The company’s quarterly revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Research analysts anticipate that Seagate Technology Holdings PLC will post 34.42 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Thursday, September 24th. Seagate Technology’s payout ratio is 21.33%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Sanford C. Bernstein reissued an “outperform” rating and set a $1,350.00 target price on shares of Seagate Technology in a research report on Wednesday, July 29th. Bank of America upped their price target on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. BNP Paribas Exane increased their price objective on shares of Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Finally, Argus boosted their price objective on shares of Seagate Technology from $750.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $986.00.

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.