Westpac Banking Corp Reduces Position in Seagate Technology Holdings PLC $STX

Westpac Banking Corp decreased its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 64.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 684 shares of the data storage provider’s stock after selling 1,215 shares during the quarter. Westpac Banking Corp’s holdings in Seagate Technology were worth $99,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in STX. Harbor Asset Planning Inc. bought a new position in Seagate Technology during the second quarter valued at approximately $27,000. MTM Investment Management LLC bought a new position in shares of Seagate Technology during the 2nd quarter valued at $29,000. GoalVest Advisory LLC lifted its holdings in shares of Seagate Technology by 30.6% during the 2nd quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider’s stock valued at $46,000 after buying an additional 75 shares during the period. Trust Co. of Toledo NA OH purchased a new position in shares of Seagate Technology in the 2nd quarter worth $57,000. Finally, Bruce G. Allen Investments LLC grew its holdings in shares of Seagate Technology by 28.1% in the second quarter. Bruce G. Allen Investments LLC now owns 419 shares of the data storage provider’s stock worth $60,000 after acquiring an additional 92 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Kian Fatt Chong sold 7,078 shares of Seagate Technology stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $272.14, for a total value of $1,926,206.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John Christopher Morris sold 15,347 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $195.80, for a total value of $3,004,942.60. Following the transaction, the executive vice president owned 9,843 shares of the company’s stock, valued at $1,927,259.40. This represents a 60.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 131,261 shares of company stock worth $34,210,708 over the last three months. 0.79% of the stock is owned by company insiders.

Seagate Technology Price Performance

Shares of STX stock opened at $261.38 on Tuesday. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $297.88. The company’s fifty day moving average price is $235.48 and its 200-day moving average price is $172.91. The company has a market capitalization of $55.82 billion, a price-to-earnings ratio of 33.55, a PEG ratio of 1.17 and a beta of 1.63.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, October 28th. The data storage provider reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.21. Seagate Technology had a negative return on equity of 297.87% and a net margin of 17.92%.The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the prior year, the business posted $1.58 EPS. Seagate Technology’s revenue for the quarter was up 21.3% compared to the same quarter last year. Seagate Technology has set its Q2 2026 guidance at 2.550-2.950 EPS. Equities research analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 24th will be paid a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, December 24th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 dividend on an annualized basis and a yield of 1.1%. Seagate Technology’s dividend payout ratio is currently 38.00%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on STX. Loop Capital boosted their price target on Seagate Technology from $350.00 to $465.00 and gave the company a “buy” rating in a research note on Monday, November 10th. TD Cowen upped their target price on shares of Seagate Technology from $270.00 to $340.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Cantor Fitzgerald increased their price target on shares of Seagate Technology from $280.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Robert W. Baird boosted their price objective on shares of Seagate Technology from $188.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Finally, Citigroup raised their target price on Seagate Technology from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $281.36.

Seagate Technology Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.