Mediolanum International Funds Ltd Buys Shares of 20,354 Seagate Technology Holdings PLC $STX

Mediolanum International Funds Ltd purchased a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 20,354 shares of the data storage provider’s stock, valued at approximately $7,377,000.

Several other hedge funds also recently made changes to their positions in the business. WealthTrust Asset Management LLC acquired a new position in Seagate Technology during the first quarter worth $206,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in Seagate Technology by 23.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after buying an additional 15 shares during the last quarter. Dorsey Wright & Associates lifted its position in Seagate Technology by 65.1% during the 1st quarter. Dorsey Wright & Associates now owns 17,386 shares of the data storage provider’s stock worth $6,811,000 after buying an additional 6,855 shares in the last quarter. California Public Employees Retirement System lifted its position in Seagate Technology by 0.7% during the 1st quarter. California Public Employees Retirement System now owns 360,397 shares of the data storage provider’s stock worth $141,189,000 after buying an additional 2,622 shares in the last quarter. Finally, Clifford Swan Investment Counsel LLC acquired a new position in shares of Seagate Technology during the 1st quarter worth about $253,000. 92.87% of the stock is owned by institutional investors.

Seagate Technology Stock Performance

Shares of STX opened at $802.45 on Tuesday. The company has a market cap of $179.93 billion, a PE ratio of 76.13 and a beta of 2.04. The firm has a 50-day moving average of $886.38 and a 200-day moving average of $595.30. Seagate Technology Holdings PLC has a one year low of $138.30 and a one year high of $1,145.00. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The company had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same period in the prior year, the firm earned $1.90 EPS. Seagate Technology’s quarterly revenue was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities analysts forecast that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th were given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, June 24th. Seagate Technology’s dividend payout ratio (DPR) is presently 28.08%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on STX shares. Evercore raised their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. TD Cowen upped their target price on Seagate Technology from $500.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Argus increased their price target on Seagate Technology from $450.00 to $750.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Wall Street Zen upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Wells Fargo & Company raised Seagate Technology from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $900.00 to $1,100.00 in a research report on Friday, July 10th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and a consensus target price of $898.52.

Insiders Place Their Bets

In other Seagate Technology news, CEO William D. Mosley sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the completion of the sale, the chief executive officer owned 339,591 shares of the company’s stock, valued at $255,131,322.39. This trade represents a 8.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 22,488 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total value of $17,410,659.36. Following the sale, the chief financial officer directly owned 42,847 shares of the company’s stock, valued at $33,173,004.34. This represents a 34.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 151,069 shares of company stock valued at $126,191,753. 0.79% of the stock is owned by insiders.

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.