Legacy Financial Advisors Inc. Acquires New Position in Seagate Technology Holdings PLC $STX

Legacy Financial Advisors Inc. bought a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the third quarter, HoldingsChannel reports. The firm bought 1,448 shares of the data storage provider’s stock, valued at approximately $342,000.

Several other hedge funds also recently made changes to their positions in the company. WCM Investment Management LLC acquired a new stake in shares of Seagate Technology during the 3rd quarter valued at approximately $1,187,621,000. Norges Bank bought a new stake in Seagate Technology during the second quarter valued at $197,027,000. Boston Partners bought a new stake in Seagate Technology during the second quarter valued at $193,500,000. Soroban Capital Partners LP raised its holdings in shares of Seagate Technology by 1,468.1% during the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after purchasing an additional 1,327,197 shares during the period. Finally, Trivest Advisors Ltd bought a new position in shares of Seagate Technology in the 3rd quarter worth about $170,435,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $396.02 on Wednesday. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $459.84. The company has a market cap of $86.36 billion, a PE ratio of 44.80, a P/E/G ratio of 0.91 and a beta of 1.62. The stock has a 50 day simple moving average of $352.52 and a 200-day simple moving average of $271.68. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same period last year, the firm earned $2.03 EPS. The firm’s revenue was up 21.5% compared to the same quarter last year. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, equities research analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current 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 given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Wednesday, March 25th. Seagate Technology’s dividend payout ratio is currently 33.48%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. China Renaissance boosted their price objective on shares of Seagate Technology from $325.00 to $452.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Robert W. Baird upped their target price on Seagate Technology from $270.00 to $505.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. TD Cowen increased their price target on Seagate Technology from $340.00 to $500.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Rosenblatt Securities raised their price target on Seagate Technology from $370.00 to $500.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Finally, UBS Group upped their price objective on Seagate Technology from $385.00 to $440.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. One 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 stock. According to MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average price target of $447.35.

Insider Activity

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $285.56, for a total transaction of $5,711,200.00. Following the sale, the chief executive officer directly owned 429,895 shares in the company, valued at approximately $122,760,816.20. The trade was a 4.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay L. Geldmacher sold 925 shares of the stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $448.02, for a total transaction of $414,418.50. Following the completion of the transaction, the director owned 223 shares of the company’s stock, valued at $99,908.46. This trade represents a 80.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 89,801 shares of company stock worth $32,360,491 in the last 90 days. 0.79% of the stock is currently owned by corporate 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.