MBB Public Markets I LLC Trims Stake in Seagate Technology Holdings PLC $STX

MBB Public Markets I LLC reduced its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 59.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,171 shares of the data storage provider’s stock after selling 1,695 shares during the quarter. Seagate Technology accounts for about 0.0% of MBB Public Markets I LLC’s investment portfolio, making the stock its 20th largest position. MBB Public Markets I LLC’s holdings in Seagate Technology were worth $276,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. National Bank of Canada FI boosted its position in shares of Seagate Technology by 11.3% during the 3rd quarter. National Bank of Canada FI now owns 173,480 shares of the data storage provider’s stock valued at $40,957,000 after acquiring an additional 17,551 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Seagate Technology by 8.1% in the third quarter. Mercer Global Advisors Inc. ADV now owns 29,739 shares of the data storage provider’s stock worth $7,020,000 after purchasing an additional 2,230 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Seagate Technology by 24.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 149,251 shares of the data storage provider’s stock valued at $35,217,000 after purchasing an additional 28,981 shares in the last quarter. Kinetic Partners Management LP purchased a new stake in Seagate Technology in the third quarter valued at approximately $23,677,000. Finally, L2 Asset Management LLC bought a new stake in Seagate Technology during the third quarter valued at approximately $235,000. Institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on STX shares. KeyCorp set a $500.00 price target on shares of Seagate Technology in a report on Wednesday, January 28th. Benchmark lifted their price objective on shares of Seagate Technology from $255.00 to $325.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. BNP Paribas Exane upped their target price on shares of Seagate Technology from $430.00 to $530.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Rosenblatt Securities increased their target price on Seagate Technology from $370.00 to $500.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Finally, TD Cowen raised their price target on Seagate Technology from $340.00 to $500.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $447.35.

Insider Activity

In related news, EVP Kian Fatt Chong sold 5,846 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $416.48, for a total transaction of $2,434,742.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay L. Geldmacher sold 925 shares of the firm’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 value of $414,418.50. Following the transaction, the director owned 223 shares in the company, valued at approximately $99,908.46. The trade was a 80.57% decrease in their ownership of the stock. 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 valued at $34,430,409. Company insiders own 0.79% of the company’s stock.

Seagate Technology Trading Up 3.9%

Shares of STX opened at $398.78 on Tuesday. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $459.84. The firm has a market cap of $86.96 billion, a price-to-earnings ratio of 45.11, a PEG ratio of 0.85 and a beta of 1.61. The firm has a 50 day moving average price of $380.42 and a 200-day moving average price of $293.80. 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 (NASDAQ:STX) last released its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. The company 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 firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, equities research analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, March 25th. Seagate Technology’s dividend payout ratio (DPR) is 33.48%.

About Seagate Technology

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.