Tribune Investment Group LP Invests $4.43 Million in Seagate Technology Holdings PLC $STX

Tribune Investment Group LP bought a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 4,590 shares of the data storage provider’s stock, valued at approximately $4,429,000. Seagate Technology accounts for about 1.8% of Tribune Investment Group LP’s portfolio, making the stock its 17th largest holding.

Other hedge funds have also added to or reduced their stakes in the company. PFA Pension Forsikringsaktieselskab bought a new position in Seagate Technology in the fourth quarter valued at approximately $23,882,000. New York State Teachers Retirement System increased its position in shares of Seagate Technology by 5.0% during the 4th quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock worth $51,510,000 after purchasing an additional 8,991 shares during the last quarter. Praxis Investment Management Inc. raised its stake in shares of Seagate Technology by 56.5% during the 4th quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider’s stock worth $1,822,000 after purchasing an additional 2,389 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Seagate Technology by 85.9% during the 1st quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock worth $8,637,000 after purchasing an additional 10,190 shares in the last quarter. Finally, GLOBALT Investments LLC GA boosted its holdings in shares of Seagate Technology by 820.8% in the 4th quarter. GLOBALT Investments LLC GA now owns 9,760 shares of the data storage provider’s stock valued at $2,688,000 after buying an additional 8,700 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Insider Activity at Seagate Technology

In related news, CFO Gianluca Romano sold 880 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $845.12, for a total value of $743,705.60. Following the transaction, the chief financial officer owned 20,663 shares in the company, valued at approximately $17,462,714.56. This represents a 4.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 168 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $817.76, for a total transaction of $137,383.68. Following the completion of the transaction, the executive vice president directly owned 11,920 shares in the company, valued at approximately $9,747,699.20. This represents a 1.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 worth $116,077,574 in the last quarter. 0.79% of the stock is owned by corporate insiders.

Seagate Technology Price Performance

STX stock opened at $850.00 on Monday. Seagate Technology Holdings PLC has a 1-year low of $154.22 and a 1-year high of $1,145.00. The business’s 50 day simple moving average is $893.23 and its 200 day simple moving average is $683.35. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $192.65 billion, a PE ratio of 61.24 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter last year, the firm posted $2.59 EPS. 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. As a group, research analysts anticipate that Seagate Technology Holdings PLC will post 34.42 EPS for the current year.

Seagate Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

STX has been the subject of several analyst reports. Evercore raised their target price on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. The Goldman Sachs Group upped their price target on shares of Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $1,300.00 price objective on shares of Seagate Technology in a research report on Wednesday, July 29th. Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a research note on Wednesday, June 24th. Finally, Loop Capital boosted their price objective on shares of Seagate Technology from $950.00 to $1,140.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and a consensus price target of $986.00.

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.