AXQ Capital LP Raises Stake in Seagate Technology Holdings PLC $STX

AXQ Capital LP boosted its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 78.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,174 shares of the data storage provider’s stock after buying an additional 1,397 shares during the quarter. AXQ Capital LP’s holdings in Seagate Technology were worth $874,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Salomon & Ludwin LLC lifted its stake in shares of Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 51 shares during the last quarter. Rakuten Securities Inc. increased its position in shares of Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 168 shares during the last quarter. Armstrong Advisory Group Inc. acquired a new stake in shares of Seagate Technology during the 4th quarter worth about $28,000. Avion Wealth raised its holdings in Seagate Technology by 343.5% in the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after buying an additional 79 shares during the period. Finally, Concord Wealth Partners purchased a new stake in Seagate Technology in the 4th quarter valued at about $28,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Performance

Shares of Seagate Technology stock opened at $926.61 on Wednesday. The business has a 50-day simple moving average of $621.76 and a 200-day simple moving average of $437.45. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. Seagate Technology Holdings PLC has a one year low of $118.75 and a one year high of $953.72. The company has a market cap of $207.77 billion, a PE ratio of 87.91 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $2.96 billion. During the same quarter in the previous year, the firm earned $1.90 earnings per share. The firm’s quarterly revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities research analysts forecast that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology’s payout ratio is 28.08%.

Key Headlines Impacting Seagate Technology

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Citigroup raised its price target on Seagate Technology Holdings PLC (STX) to $1,150 from $740 and reiterated a Buy rating, signaling meaningful upside from current levels and likely supporting investor sentiment.
• Positive Sentiment: Seagate also benefited from news that it reached a $175 million settlement over shareholder claims tied to alleged sales to Huawei, which may reduce legal uncertainty that has weighed on the stock. Article Title
• Neutral Sentiment: Recent Q1 earnings coverage suggests investors are still comparing Seagate’s results and outlook with other semiconductor names, but no new operating update was included in the latest items. Article Title
• Negative Sentiment: CEO William D. Mosley sold shares in two separate pre-arranged Rule 10b5-1 transactions, and director Prat Bhatt and director Yolanda Lee Conyers also sold stock. While planned sales are often routine, multiple insider sales can create a mild headwind for sentiment.

Wall Street Analysts Forecast Growth

STX has been the topic of a number of research analyst reports. Evercore boosted their target price on Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Seagate Technology in a research note on Wednesday, February 4th. Morgan Stanley increased their target price on Seagate Technology from $582.00 to $767.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. raised their target price on Seagate Technology from $525.00 to $775.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Finally, Wells Fargo & Company lifted their target price on Seagate Technology from $700.00 to $900.00 and gave the company an “equal weight” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Seagate Technology has a consensus rating of “Moderate Buy” and a consensus target price of $772.04.

Insider Activity at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $885.33, for a total transaction of $663,997.50. Following the completion of the transaction, the director directly owned 4,101 shares of the company’s stock, valued at approximately $3,630,738.33. This represents a 15.46% decrease in their position. 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, CEO William D. Mosley sold 13,780 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $924.99, for a total value of $12,746,362.20. Following the sale, the chief executive officer directly owned 323,591 shares in the company, valued at $299,318,439.09. This trade represents a 4.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 154,187 shares of company stock worth $107,340,021 over the last three months. 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.