Eminence Capital LP Buys Shares of 38,843 Seagate Technology Holdings PLC $STX

Eminence Capital LP purchased a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 38,843 shares of the data storage provider’s stock, valued at approximately $9,169,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. California Public Employees Retirement System increased its stake in Seagate Technology by 3.5% during the 3rd quarter. California Public Employees Retirement System now owns 356,652 shares of the data storage provider’s stock worth $84,191,000 after buying an additional 12,182 shares during the period. Aquatic Capital Management LLC grew its stake in shares of Seagate Technology by 247.2% in the third quarter. Aquatic Capital Management LLC now owns 183,447 shares of the data storage provider’s stock worth $43,304,000 after acquiring an additional 130,606 shares in the last quarter. Apis Capital Advisors LLC increased its position in shares of Seagate Technology by 111.7% during the third quarter. Apis Capital Advisors LLC now owns 114,300 shares of the data storage provider’s stock worth $26,982,000 after acquiring an additional 60,300 shares during the period. Polar Asset Management Partners Inc. acquired a new stake in shares of Seagate Technology in the third quarter valued at $260,000. Finally, SummitTX Capital L.P. acquired a new stake in shares of Seagate Technology in the third quarter valued at $2,315,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Up 2.6%

Seagate Technology stock opened at $383.71 on Friday. The stock has a market cap of $83.68 billion, a PE ratio of 43.41, a P/E/G ratio of 0.85 and a beta of 1.61. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72. The stock’s fifty day moving average is $378.24 and its two-hundred day moving average is $291.33. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $459.84.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same period in the prior year, the firm posted $2.03 EPS. The business’s quarterly 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, sell-side analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm 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 dividend of $0.74 per share. The ex-dividend date is Wednesday, March 25th. This represents a $2.96 annualized dividend and a yield of 0.8%. Seagate Technology’s payout ratio is presently 33.48%.

Insider Transactions at Seagate Technology

In other news, EVP Kian Fatt Chong sold 5,846 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $416.48, for a total transaction of $2,434,742.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James Ci Lee sold 673 shares of the company’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $348.85, for a total transaction of $234,776.05. Following the completion of the transaction, the executive vice president owned 257 shares of the company’s stock, valued at approximately $89,654.45. The trade was a 72.37% 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 three months. 0.79% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

STX has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on Seagate Technology from $360.00 to $450.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 28th. Barclays increased their price target on Seagate Technology from $370.00 to $425.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 28th. Cantor Fitzgerald boosted their price objective on Seagate Technology from $500.00 to $650.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. Bank of America upped their target price on shares of Seagate Technology from $320.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Finally, The Goldman Sachs Group raised their target price on shares of Seagate Technology from $310.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and an average 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.