Valley Wealth Managers Inc. Has $36.47 Million Stock Position in Seagate Technology Holdings PLC $STX

Valley Wealth Managers Inc. lessened its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 5.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 132,446 shares of the data storage provider’s stock after selling 7,469 shares during the period. Seagate Technology comprises approximately 2.3% of Valley Wealth Managers Inc.’s portfolio, making the stock its 5th biggest holding. Valley Wealth Managers Inc.’s holdings in Seagate Technology were worth $36,474,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Seagate Technology by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 28,140,287 shares of the data storage provider’s stock valued at $6,642,796,000 after purchasing an additional 442,749 shares during the last quarter. State Street Corp lifted its stake in Seagate Technology by 3.1% in the 3rd quarter. State Street Corp now owns 9,276,278 shares of the data storage provider’s stock valued at $2,196,420,000 after purchasing an additional 274,913 shares during the last quarter. WCM Investment Management LLC bought a new position in Seagate Technology in the 3rd quarter valued at approximately $1,187,621,000. Arrowstreet Capital Limited Partnership lifted its stake in Seagate Technology by 1,072.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock valued at $696,262,000 after purchasing an additional 2,697,957 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Seagate Technology by 1,510.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock valued at $553,125,000 after purchasing an additional 1,883,769 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Trading Up 6.6%

STX opened at $834.01 on Tuesday. Seagate Technology Holdings PLC has a twelve month low of $100.00 and a twelve month high of $841.31. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The company has a fifty day moving average of $492.12 and a 200-day moving average of $378.05. The stock has a market cap of $187.01 billion, a PE ratio of 79.13 and a beta of 1.98.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same period in the prior year, the company posted $1.90 earnings per share. Seagate Technology’s revenue for the quarter was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, sell-side analysts predict that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be given a dividend of $0.74 per share. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. Seagate Technology’s dividend payout ratio is 28.08%.

Analysts Set New Price Targets

Several equities analysts recently commented on STX shares. Rosenblatt Securities increased their price objective on shares of Seagate Technology from $500.00 to $1,000.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Argus raised their price target on shares of Seagate Technology from $450.00 to $750.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. BNP Paribas Exane raised their price target on shares of Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. KeyCorp set a $500.00 price target on shares of Seagate Technology in a research note on Wednesday, January 28th. Finally, Mizuho raised their price target on shares of Seagate Technology from $565.00 to $700.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and a consensus target price of $709.13.

Insider Buying and Selling

In related news, EVP James Ci Lee sold 697 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $741.17, for a total transaction of $516,595.49. Following the transaction, the executive vice president directly owned 324 shares of the company’s stock, valued at $240,139.08. This represents a 68.27% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephanie Tilenius sold 1,580 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $766.61, for a total transaction of $1,211,243.80. Following the transaction, the director directly owned 10,664 shares in the company, valued at approximately $8,175,129.04. This represents a 12.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 102,723 shares of company stock worth $53,301,684 over the last ninety days. 0.79% of the stock is owned by company insiders.

About Seagate Technology

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.