Seagate Technology Holdings PLC $STX Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 109.3% during the third quarter, Holdings Channel.com reports. The fund owned 9,611 shares of the data storage provider’s stock after acquiring an additional 5,020 shares during the period. Illinois Municipal Retirement Fund’s holdings in Seagate Technology were worth $2,269,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in STX. WCM Investment Management LLC purchased a new stake in Seagate Technology in the third quarter valued at approximately $1,187,621,000. Norges Bank acquired a new stake in shares of Seagate Technology in the second quarter valued at $197,027,000. Boston Partners acquired a new stake in shares of Seagate Technology in the second quarter valued at $193,500,000. Soroban Capital Partners LP raised its holdings in shares of Seagate Technology by 1,468.1% in the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock valued at $204,602,000 after buying an additional 1,327,197 shares during the period. Finally, Maple Rock Capital Partners Inc. lifted its stake in Seagate Technology by 85.3% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 1,131,752 shares of the data storage provider’s stock worth $163,346,000 after acquiring an additional 520,846 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Activity at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 20,195 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $442.29, for a total value of $8,932,046.55. Following the completion of the sale, the executive vice president owned 3,092 shares in the company, valued at approximately $1,367,560.68. The trade was a 86.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total value of $204,682.50. Following the completion of the sale, the director directly owned 5,601 shares of the company’s stock, valued at $1,528,568.91. The trade was a 11.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 83,955 shares of company stock valued at $29,925,749 over the last 90 days. 0.79% of the stock is owned by insiders.

Seagate Technology Stock Down 1.2%

Shares of NASDAQ:STX opened at $425.99 on Tuesday. The firm has a 50 day simple moving average of $338.27 and a 200-day simple moving average of $260.72. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $459.84. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63. The company has a market capitalization of $92.90 billion, a PE ratio of 48.19, a P/E/G ratio of 0.95 and a beta of 1.62.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping the consensus estimate of $2.77 by $0.34. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period last year, the business earned $2.03 EPS. Seagate Technology’s revenue for the quarter was up 21.5% compared to the same quarter last year. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, equities analysts predict that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Investors 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 yield of 0.7%. The ex-dividend date is Wednesday, March 25th. Seagate Technology’s dividend payout ratio (DPR) is currently 33.48%.

Wall Street Analyst Weigh In

Several research firms have weighed in on STX. Evercore lifted their target price on Seagate Technology from $330.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Robert W. Baird lifted their price objective on shares of Seagate Technology from $270.00 to $505.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. BNP Paribas Exane increased their target price on shares of Seagate Technology from $430.00 to $530.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Mizuho raised their price target on shares of Seagate Technology from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, January 27th. Finally, Zacks Research downgraded shares of Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Eighteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $444.09.

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.