Seagate Technology Holdings PLC $STX Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 7.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,053 shares of the data storage provider’s stock after selling 823 shares during the period. QRG Capital Management Inc.’s holdings in Seagate Technology were worth $1,451,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in Seagate Technology during the 1st quarter worth about $31,000. Golden State Wealth Management LLC grew its position in Seagate Technology by 2,200.0% during the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider’s stock worth $39,000 after purchasing an additional 440 shares during the period. Zions Bancorporation National Association UT acquired a new stake in Seagate Technology during the 1st quarter worth about $42,000. Costello Asset Management INC acquired a new stake in Seagate Technology during the 1st quarter worth about $47,000. Finally, Brooklyn Investment Group grew its position in shares of Seagate Technology by 41.5% during the 1st quarter. Brooklyn Investment Group now owns 702 shares of the data storage provider’s stock valued at $60,000 after acquiring an additional 206 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Trading Down 7.3%

Shares of Seagate Technology stock opened at $225.01 on Wednesday. The firm has a market capitalization of $47.92 billion, a PE ratio of 33.24, a P/E/G ratio of 1.09 and a beta of 1.63. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $264.83. The firm’s 50-day moving average price is $187.07 and its 200 day moving average price is $138.01.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.14. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the company posted $1.05 EPS. Seagate Technology’s quarterly revenue was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, sell-side analysts predict that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology’s dividend payout ratio (DPR) is 42.54%.

Insiders Place Their Bets

In other Seagate Technology news, EVP John Christopher Morris sold 15,347 shares of the firm’s 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 directly owned 9,843 shares of the company’s stock, valued at $1,927,259.40. This trade represents a 60.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jay L. Geldmacher sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $150.50, for a total transaction of $376,250.00. Following the completion of the transaction, the director directly owned 352 shares in the company, valued at $52,976. This trade represents a 87.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,935 shares of company stock worth $14,394,416. 0.79% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on STX. Sanford C. Bernstein began coverage on Seagate Technology in a research report on Tuesday, September 16th. They set an “outperform” rating and a $250.00 target price on the stock. Rosenblatt Securities raised their target price on Seagate Technology from $200.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Barclays raised their target price on Seagate Technology from $180.00 to $200.00 and gave the company an “equal weight” rating in a research report on Thursday, September 11th. Robert W. Baird raised their target price on Seagate Technology from $120.00 to $188.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Finally, The Goldman Sachs Group began coverage on Seagate Technology in a research report on Thursday, July 10th. They set a “buy” rating and a $170.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $193.32.

About Seagate Technology

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.