WCM Investment Management LLC Purchases New Holdings in Seagate Technology Holdings PLC $STX

WCM Investment Management LLC bought a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,182,949 shares of the data storage provider’s stock, valued at approximately $1,187,621,000. Seagate Technology accounts for approximately 2.5% of WCM Investment Management LLC’s portfolio, making the stock its 15th biggest holding.

Other hedge funds also recently modified their holdings of the company. State Street Corp grew its stake in Seagate Technology by 5.0% during the second quarter. State Street Corp now owns 9,001,365 shares of the data storage provider’s stock worth $1,305,499,000 after buying an additional 432,455 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Seagate Technology by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 4,567,181 shares of the data storage provider’s stock worth $656,066,000 after acquiring an additional 85,660 shares in the last quarter. Soroban Capital Partners LP boosted its position in shares of Seagate Technology by 1,468.1% during the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after acquiring an additional 1,327,197 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Seagate Technology by 1.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,386,524 shares of the data storage provider’s stock valued at $200,117,000 after acquiring an additional 20,618 shares during the last quarter. Finally, Norges Bank acquired a new position in Seagate Technology during the second quarter valued at approximately $197,027,000. Institutional investors own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on STX. Bank of America boosted their price target on Seagate Technology from $320.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Cantor Fitzgerald boosted their target price on Seagate Technology from $400.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Robert W. Baird increased their target price on shares of Seagate Technology from $270.00 to $505.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. China Renaissance raised their price target on shares of Seagate Technology from $325.00 to $452.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Finally, Zacks Research cut Seagate Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $417.57.

Seagate Technology Price Performance

STX stock opened at $432.95 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63. The firm has a market cap of $92.46 billion, a price-to-earnings ratio of 48.98, a PEG ratio of 0.94 and a beta of 1.62. The company’s fifty day simple moving average is $308.25 and its 200 day simple moving average is $241.71. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $457.84.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.73 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The firm’s revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be paid a $0.74 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $2.96 annualized dividend and a dividend yield of 0.7%. Seagate Technology’s payout ratio is currently 33.48%.

Insider Activity at Seagate Technology

In related news, EVP Ban Seng Teh sold 20,195 shares of the stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $442.29, for a total transaction of $8,932,046.55. Following the transaction, the executive vice president directly owned 3,092 shares of the company’s stock, valued at $1,367,560.68. This represents a 86.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gianluca Romano sold 54,021 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief financial officer owned 56,293 shares of the company’s stock, valued at $16,052,511.88. The trade was a 48.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 123,976 shares of company stock worth $38,364,978 over the last ninety days. 0.79% of the stock is owned by corporate insiders.

Seagate Technology Company Profile

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.