Primecap Management Co. CA Acquires 152,752 Shares of Seagate Technology Holdings PLC $STX

Primecap Management Co. CA lifted its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 18.4% in the 2nd quarter, Holdings Channel reports. The firm owned 983,207 shares of the data storage provider’s stock after acquiring an additional 152,752 shares during the period. Primecap Management Co. CA’s holdings in Seagate Technology were worth $141,906,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Harbor Asset Planning Inc. purchased a new position in Seagate Technology in the 2nd quarter worth about $27,000. MTM Investment Management LLC bought a new stake in shares of Seagate Technology in the second quarter worth approximately $29,000. GoalVest Advisory LLC raised its holdings in shares of Seagate Technology by 30.6% during the second quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider’s stock valued at $46,000 after purchasing an additional 75 shares during the last quarter. Trust Co. of Toledo NA OH bought a new position in Seagate Technology during the second quarter valued at approximately $57,000. Finally, Bruce G. Allen Investments LLC lifted its position in Seagate Technology by 28.1% during the second quarter. Bruce G. Allen Investments LLC now owns 419 shares of the data storage provider’s stock valued at $60,000 after purchasing an additional 92 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Up 2.1%

STX stock opened at $259.14 on Thursday. The business’s 50-day moving average price is $238.04 and its 200-day moving average price is $174.64. The stock has a market cap of $55.34 billion, a P/E ratio of 33.27, a PEG ratio of 1.17 and a beta of 1.63. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $297.88.

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

Seagate Technology Increases Dividend

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

Insider Buying and Selling

In other Seagate Technology news, EVP Ban Seng Teh sold 6,000 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $270.00, for a total value of $1,620,000.00. Following the completion of the sale, the executive vice president owned 12,041 shares in the company, valued at approximately $3,251,070. This represents a 33.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $262.82, for a total value of $5,256,400.00. Following the completion of the transaction, the chief executive officer owned 465,668 shares in the company, valued at $122,386,863.76. The trade was a 4.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 131,261 shares of company stock worth $34,210,708 in the last three months. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on STX shares. UBS Group decreased their target price on shares of Seagate Technology from $235.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. Argus upped their price objective on Seagate Technology from $170.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 30th. Sanford C. Bernstein increased their target price on Seagate Technology from $275.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. TD Cowen boosted their price target on Seagate Technology from $270.00 to $340.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Finally, Evercore ISI upped their price target on shares of Seagate Technology from $160.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $281.36.

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.