Pelham Capital Ltd. Purchases Shares of 10,324 Seagate Technology Holdings PLC $STX

Pelham Capital Ltd. purchased a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,324 shares of the data storage provider’s stock, valued at approximately $9,963,000. Seagate Technology comprises about 5.7% of Pelham Capital Ltd.’s portfolio, making the stock its 10th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Integrated Wealth Concepts LLC boosted its holdings in Seagate Technology by 168.0% in the first quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock valued at $610,000 after acquiring an additional 4,499 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Seagate Technology in the 2nd quarter worth approximately $262,000. Cerity Partners LLC boosted its stake in shares of Seagate Technology by 25.8% in the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock valued at $5,294,000 after purchasing an additional 7,517 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Seagate Technology by 64.8% in the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock valued at $1,233,000 after purchasing an additional 3,358 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Seagate Technology by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider’s stock worth $18,458,000 after buying an additional 462 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Price Performance

STX stock opened at $828.38 on Tuesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. The company’s 50-day moving average is $865.57 and its 200-day moving average is $700.60. The stock has a market capitalization of $187.75 billion, a PE ratio of 59.68 and a beta of 2.06. Seagate Technology Holdings PLC has a 1 year low of $163.86 and a 1 year high of $1,145.00.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61. The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The firm’s revenue for the quarter was up 48.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities research analysts expect that Seagate Technology Holdings PLC will post 35.7 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology’s dividend payout ratio is presently 21.33%.

Insider Transactions at Seagate Technology

In related news, CEO William D. Mosley sold 20,657 shares of Seagate Technology stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $910.48, for a total value of $18,807,785.36. Following the completion of the sale, the chief executive officer owned 320,860 shares of the company’s stock, valued at approximately $292,136,612.80. This trade represents a 6.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 9,862 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $852.97, for a total transaction of $8,411,990.14. Following the sale, the executive vice president owned 5,210 shares of the company’s stock, valued at $4,443,973.70. This trade represents a 65.43% 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. Insiders have sold 162,015 shares of company stock valued at $137,693,196 in the last 90 days. 0.79% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on STX. Citigroup lifted their target price on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Susquehanna increased their price target on Seagate Technology from $775.00 to $875.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Fox Advisors lowered Seagate Technology from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a research note on Wednesday, June 24th. Finally, Barclays raised their target price on Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and a consensus price target of $986.00.

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.