NEOS Investment Management LLC Boosts Stock Holdings in Seagate Technology Holdings PLC $STX

NEOS Investment Management LLC lifted its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 13.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 166,382 shares of the data storage provider’s stock after purchasing an additional 19,624 shares during the period. Seagate Technology comprises 0.6% of NEOS Investment Management LLC’s holdings, making the stock its 29th biggest position. NEOS Investment Management LLC owned 0.07% of Seagate Technology worth $160,559,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rakuten Securities Inc. increased its holdings in Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after buying an additional 168 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Seagate Technology by 23.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after buying an additional 15 shares during the period. Quarry LP purchased a new stake in Seagate Technology during the fourth quarter worth $31,000. WealthCollab LLC boosted its position in Seagate Technology by 27.4% during the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock valued at $36,000 after acquiring an additional 20 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Seagate Technology during the 4th quarter valued at $37,000. 92.87% of the stock is currently owned by institutional investors.

Insider Activity at Seagate Technology

In related news, CFO Gianluca Romano sold 14,091 shares of Seagate Technology stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $811.25, for a total value of $11,431,323.75. Following the completion of the sale, the chief financial officer directly owned 21,543 shares in the company, valued at $17,476,758.75. This trade represents a 39.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP James Lee sold 9,013 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $794.84, for a total transaction of $7,163,892.92. Following the transaction, the executive vice president owned 347 shares in the company, valued at $275,809.48. The trade was a 96.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 191,765 shares of company stock valued at $161,865,249. Company insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

STX has been the subject of several recent research reports. TD Cowen boosted their price target on Seagate Technology from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Argus raised their price objective on Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. lifted their target price on Seagate Technology from $1,095.00 to $1,240.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Seagate Technology in a report on Wednesday, June 24th. Finally, Mizuho raised their price target on shares of Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $986.00.

Seagate Technology Stock Down 1.2%

Seagate Technology stock opened at $798.61 on Friday. Seagate Technology Holdings PLC has a 1-year low of $175.82 and a 1-year high of $1,145.00. The business has a fifty day moving average price of $852.94 and a 200-day moving average price of $708.76. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. The stock has a market capitalization of $181.00 billion, a price-to-earnings ratio of 57.54 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the prior year, the company posted $2.59 EPS. The firm’s quarterly revenue was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities research analysts forecast that Seagate Technology Holdings PLC will post 35.7 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be issued a dividend of $0.74 per share. The ex-dividend date is Thursday, September 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. Seagate Technology’s dividend payout ratio is 21.33%.

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.