Oxbow Capital Management HK Ltd Takes Position in Seagate Technology Holdings PLC $STX

Oxbow Capital Management HK Ltd acquired a new stake in Seagate Technology Holdings PLC (NASDAQ:STX) in the 3rd quarter, Holdings Channel reports. The fund acquired 443,000 shares of the data storage provider’s stock, valued at approximately $104,575,000. Seagate Technology accounts for about 18.3% of Oxbow Capital Management HK Ltd’s portfolio, making the stock its largest holding.

A number of other institutional investors also recently bought and sold shares of STX. Rakuten Securities Inc. grew its position in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 168 shares during the last quarter. MTM Investment Management LLC purchased a new position in shares of Seagate Technology in the second quarter worth $29,000. First Horizon Corp acquired a new stake in shares of Seagate Technology during the third quarter worth $33,000. Raiffeisen Bank International AG purchased a new stake in shares of Seagate Technology during the third quarter valued at $33,000. Finally, Physician Wealth Advisors Inc. grew its holdings in shares of Seagate Technology by 43.7% during the third quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock valued at $35,000 after buying an additional 45 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STX has been the topic of several research reports. UBS Group upped their target price on Seagate Technology from $385.00 to $440.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Citigroup lifted their price target on Seagate Technology from $460.00 to $480.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Morgan Stanley increased their price objective on Seagate Technology from $337.00 to $372.00 and gave the company an “overweight” rating in a report on Thursday, January 22nd. Benchmark raised their price objective on Seagate Technology from $255.00 to $325.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Finally, Rosenblatt Securities lifted their target price on Seagate Technology from $370.00 to $500.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $447.35.

Seagate Technology Trading Up 2.6%

NASDAQ STX opened at $383.71 on Friday. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $459.84. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72. The company has a market capitalization of $83.68 billion, a PE ratio of 43.41, a P/E/G ratio of 0.83 and a beta of 1.61. The company has a fifty day moving average of $378.24 and a 200 day moving average of $290.46.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.34. The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.73 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period last year, the firm earned $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. 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 announced a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be issued a dividend of $0.74 per share. 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 33.48%.

Insider Activity at Seagate Technology

In other Seagate Technology news, EVP Kian Fatt Chong sold 5,846 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $416.48, for a total value of $2,434,742.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James Ci Lee sold 673 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was 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 owned 257 shares in the company, valued at approximately $89,654.45. This represents a 72.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 89,051 shares of company stock valued at $34,430,409 in the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

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.