LGT Group Foundation Reduces Stock Position in Seagate Technology Holdings PLC $STX

LGT Group Foundation cut its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 43.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,497 shares of the data storage provider’s stock after selling 4,944 shares during the period. LGT Group Foundation’s holdings in Seagate Technology were worth $1,669,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. First Horizon Corp bought a new stake in Seagate Technology during the 3rd quarter valued at $33,000. Raiffeisen Bank International AG bought a new position in shares of Seagate Technology in the third quarter worth $33,000. Physician Wealth Advisors Inc. grew its position in shares of Seagate Technology by 43.7% in the third quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock valued at $35,000 after purchasing an additional 45 shares in the last quarter. United Community Bank grew its position in shares of Seagate Technology by 35.2% in the third quarter. United Community Bank now owns 169 shares of the data storage provider’s stock valued at $40,000 after purchasing an additional 44 shares in the last quarter. Finally, Rakuten Securities Inc. raised its stake in shares of Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 168 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $384.76, for a total value of $7,695,200.00. Following the completion of the transaction, the chief executive officer owned 395,897 shares of the company’s stock, valued at $152,325,329.72. The trade was a 4.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 20,195 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $442.29, for a total transaction of $8,932,046.55. Following the completion of the transaction, the executive vice president directly owned 3,092 shares in the company, valued at $1,367,560.68. The trade was a 86.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 89,051 shares of company stock valued at $34,430,409 over the last quarter. Company insiders own 0.79% of the company’s stock.

Seagate Technology Price Performance

Seagate Technology stock opened at $374.33 on Tuesday. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $459.84. The business has a 50-day simple moving average of $370.05 and a 200 day simple moving average of $286.06. 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 stock has a market cap of $81.63 billion, a price-to-earnings ratio of 42.35, a PEG ratio of 0.78 and a beta of 1.61.

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

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, March 25th. Seagate Technology’s dividend payout ratio (DPR) is currently 33.48%.

Wall Street Analyst Weigh In

STX has been the topic of a number of recent research reports. Argus increased their price objective on Seagate Technology from $300.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Bank of America upped their price target on Seagate Technology from $320.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Mizuho increased their price target on shares of Seagate Technology from $440.00 to $475.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Rosenblatt Securities raised their price objective on shares of Seagate Technology from $370.00 to $500.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Finally, Loop Capital boosted their price objective on shares of Seagate Technology from $465.00 to $700.00 and gave the company a “buy” rating in a research note on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and a consensus target price of $447.35.

Seagate Technology 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.