Levin Capital Strategies L.P. Acquires New Stake in Seagate Technology Holdings PLC $STX

Levin Capital Strategies L.P. purchased a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 867 shares of the data storage provider’s stock, valued at approximately $340,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its stake in shares of 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 buying an additional 1,883,769 shares during the period. Norges Bank acquired a new position in shares of Seagate Technology during the 4th quarter worth about $498,363,000. Soroban Capital Partners LP boosted its holdings in Seagate Technology by 1,468.1% in the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock valued at $204,602,000 after purchasing an additional 1,327,197 shares in the last quarter. Deutsche Bank AG grew its position in shares of Seagate Technology by 102.0% in the 4th quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider’s stock valued at $440,614,000 after buying an additional 807,962 shares during the last quarter. Finally, National Pension Service boosted its stake in Seagate Technology by 298.7% in the fourth quarter. National Pension Service now owns 997,223 shares of the data storage provider’s stock valued at $274,625,000 after acquiring an additional 747,102 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on STX. UBS Group raised their target price on shares of Seagate Technology from $515.00 to $545.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Zacks Research cut Seagate Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Melius Research assumed coverage on shares of Seagate Technology in a report on Monday, June 29th. They set a “buy” rating and a $1,600.00 price objective on the stock. Rosenblatt Securities raised their target price on shares of Seagate Technology from $500.00 to $1,000.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, The Goldman Sachs Group increased their target price on Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $898.52.

Seagate Technology Stock Performance

Shares of NASDAQ:STX opened at $913.36 on Friday. Seagate Technology Holdings PLC has a 12 month low of $138.30 and a 12 month high of $1,145.00. The business has a 50-day moving average of $892.03 and a two-hundred day moving average of $608.50. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The firm has a market capitalization of $204.80 billion, a PE ratio of 86.66 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.59. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. Seagate Technology’s revenue was up 44.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, research analysts forecast that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Wednesday, June 24th. Seagate Technology’s dividend payout ratio (DPR) is presently 28.08%.

Insider Activity

In related news, EVP Ban Seng Teh sold 989 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $870,507.91. Following the transaction, the executive vice president owned 4,290 shares in the company, valued at approximately $3,776,015.10. The trade was a 18.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 903 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $794,811.57. Following the transaction, the chief financial officer owned 42,860 shares of the company’s stock, valued at approximately $37,724,943.40. This trade represents a 2.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 151,069 shares of company stock worth $126,191,753. Company insiders own 0.79% of the company’s stock.

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.