Seagate Technology Holdings PLC $STX is MWA Asset Management’s 5th Largest Position

MWA Asset Management lessened its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 32.3% in the 1st quarter, HoldingsChannel reports. The fund owned 16,707 shares of the data storage provider’s stock after selling 7,961 shares during the period. Seagate Technology accounts for about 3.6% of MWA Asset Management’s portfolio, making the stock its 5th biggest holding. MWA Asset Management’s holdings in Seagate Technology were worth $6,545,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of STX. Florida Financial Advisors LLC lifted its position in shares of Seagate Technology by 23.1% during the 1st quarter. Florida Financial Advisors LLC now owns 8,950 shares of the data storage provider’s stock worth $3,507,000 after purchasing an additional 1,681 shares during the last quarter. Balefire LLC purchased a new position in Seagate Technology in the first quarter valued at $281,000. Parallel Advisors LLC raised its stake in Seagate Technology by 11.1% in the first quarter. Parallel Advisors LLC now owns 4,353 shares of the data storage provider’s stock valued at $1,706,000 after buying an additional 435 shares in the last quarter. Ironwood Investment Counsel LLC acquired a new stake in Seagate Technology in the first quarter valued at $241,000. Finally, AlphaCentric Advisors LLC purchased a new stake in Seagate Technology during the 1st quarter worth about $68,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STX has been the subject of several analyst reports. Morgan Stanley upped their price objective on Seagate Technology from $767.00 to $1,035.00 and gave the stock an “overweight” rating in a research report on Monday, June 15th. Rosenblatt Securities raised their target price on Seagate Technology from $500.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. TD Cowen boosted their target price on Seagate Technology from $500.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Wedbush upped their price target on Seagate Technology from $700.00 to $825.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. increased their price target on shares of Seagate Technology from $775.00 to $920.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $898.52.

Seagate Technology Trading Up 1.9%

STX opened at $802.45 on Tuesday. The firm has a market cap of $179.93 billion, a price-to-earnings ratio of 76.13 and a beta of 2.04. Seagate Technology Holdings PLC has a 52 week low of $138.30 and a 52 week high of $1,145.00. The business’s 50 day moving average is $886.38 and its two-hundred day moving average is $595.30. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16.

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

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th were given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a 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%.

Insider Buying and Selling at Seagate Technology

In related news, CEO William D. Mosley sold 30,000 shares of the firm’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 dated Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total value of $17,410,659.36. Following the transaction, the chief financial officer directly owned 42,847 shares in the company, valued at approximately $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. In the last three months, insiders have sold 151,069 shares of company stock valued at $126,191,753. Company insiders own 0.79% of the company’s stock.

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.