Seagate Technology Holdings PLC $STX is Sanders Capital LLC’s 9th Largest Position

Sanders Capital LLC lessened its position in Seagate Technology Holdings PLC (NASDAQ:STX) by 1.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 18,082,306 shares of the data storage provider’s stock after selling 233,042 shares during the quarter. Seagate Technology makes up about 3.5% of Sanders Capital LLC’s portfolio, making the stock its 9th largest holding. Sanders Capital LLC owned 0.09% of Seagate Technology worth $2,609,819,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in STX. JPMorgan Chase & Co. raised its stake in Seagate Technology by 12.9% in the 1st quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider’s stock valued at $1,607,321,000 after purchasing an additional 2,161,191 shares during the last quarter. Boston Partners purchased a new stake in shares of Seagate Technology during the second quarter worth $193,500,000. Wellington Management Group LLP raised its position in shares of Seagate Technology by 3,339.4% in the first quarter. Wellington Management Group LLP now owns 933,996 shares of the data storage provider’s stock valued at $79,343,000 after buying an additional 906,840 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Seagate Technology by 2.7% in the first quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider’s stock valued at $2,441,729,000 after buying an additional 769,009 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Seagate Technology in the second quarter worth about $45,955,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Seagate Technology

In other news, EVP Kian Fatt Chong sold 7,078 shares of Seagate Technology stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $272.14, for a total value of $1,926,206.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gianluca Romano sold 54,021 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $285.16, for a total transaction of $15,404,628.36. Following the sale, the chief financial officer owned 56,293 shares in the company, valued at $16,052,511.88. This trade represents a 48.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 131,261 shares of company stock valued at $34,210,708. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on STX shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Seagate Technology in a research note on Thursday. Fox Advisors upped their price target on Seagate Technology from $245.00 to $270.00 in a research report on Wednesday, October 29th. Robert W. Baird increased their price target on Seagate Technology from $188.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Bank of America boosted their price objective on Seagate Technology from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Zacks Research raised Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $281.36.

Seagate Technology Price Performance

Shares of STX stock opened at $258.21 on Friday. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $297.88. The firm has a market cap of $55.14 billion, a PE ratio of 33.15, a price-to-earnings-growth ratio of 1.17 and a beta of 1.63. The company has a 50-day moving average of $234.03 and a two-hundred day moving average of $171.14.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, October 28th. The data storage provider reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.21. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. Seagate Technology had a net margin of 17.92% and a negative return on equity of 297.87%. The business’s revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.58 EPS. Seagate Technology has set its Q2 2026 guidance at 2.550-2.950 EPS. Sell-side analysts anticipate that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date is Wednesday, December 24th. Seagate Technology’s payout ratio is currently 38.00%.

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.