Zweig DiMenna Associates LLC Makes New Investment in Seagate Technology Holdings PLC $STX

Zweig DiMenna Associates LLC bought a new position in Seagate Technology Holdings PLC (NASDAQ:STX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 70,100 shares of the data storage provider’s stock, valued at approximately $10,118,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Asset Planning Inc. purchased a new stake in Seagate Technology in the second quarter worth approximately $27,000. Wayfinding Financial LLC purchased a new stake in Seagate Technology in the first quarter worth approximately $31,000. Zions Bancorporation National Association UT purchased a new stake in Seagate Technology in the first quarter worth approximately $42,000. GoalVest Advisory LLC boosted its stake in Seagate Technology by 30.6% in the second quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider’s stock worth $46,000 after buying an additional 75 shares in the last quarter. Finally, Costello Asset Management INC purchased a new stake in Seagate Technology in the first quarter worth approximately $47,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on STX. Benchmark upped their target price on Seagate Technology from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group increased their price objective on Seagate Technology from $170.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Wells Fargo & Company upped their target price on Seagate Technology from $240.00 to $250.00 and gave the company an “equal weight” rating in a report on Wednesday. Robert W. Baird upped their target price on Seagate Technology from $188.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, TD Cowen upped their target price on Seagate Technology from $175.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $263.18.

Seagate Technology Stock Performance

NASDAQ STX opened at $255.88 on Friday. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $280.35. The stock has a 50-day moving average of $213.78 and a 200 day moving average of $157.47. The company has a market capitalization of $54.49 billion, a price-to-earnings ratio of 32.85, a PEG ratio of 1.17 and a beta of 1.63.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, October 28th. The data storage provider reported $2.61 EPS for the quarter, topping the consensus estimate 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 company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period last year, the company earned $1.58 EPS. Seagate Technology’s revenue for the quarter was up 21.3% on a year-over-year basis. Seagate Technology has set its Q2 2026 guidance at 2.550-2.950 EPS. On average, equities analysts predict that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 24th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, December 24th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s dividend payout ratio is 36.97%.

Insiders Place Their Bets

In related news, EVP John Christopher Morris sold 377 shares of Seagate Technology stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $211.26, for a total value of $79,645.02. Following the completion of the sale, the executive vice president directly owned 13,238 shares in the company, valued at approximately $2,796,659.88. This trade represents a 2.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ban Seng Teh sold 1,410 shares of the firm’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $225.56, for a total value of $318,039.60. Following the completion of the transaction, the executive vice president directly owned 18,041 shares in the company, valued at $4,069,327.96. The trade was a 7.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 45,090 shares of company stock valued at $9,759,648 over the last quarter. Corporate insiders own 0.79% of the company’s stock.

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.