Great Lakes Advisors LLC Takes Position in Seagate Technology Holdings PLC $STX

Great Lakes Advisors LLC acquired a new stake in Seagate Technology Holdings PLC (NASDAQ:STX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 869 shares of the data storage provider’s stock, valued at approximately $839,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Seagate Technology during the 4th quarter worth approximately $498,363,000. Soroban Capital Partners LP lifted its stake 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 buying an additional 1,327,197 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Seagate Technology by 3,872.1% during the first quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock worth $378,985,000 after buying an additional 943,170 shares during the period. Deutsche Bank AG lifted its stake in shares of Seagate Technology by 102.0% during the fourth quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider’s stock worth $440,614,000 after buying an additional 807,962 shares during the period. Finally, National Pension Service grew its holdings in shares of Seagate Technology by 298.7% during the fourth quarter. National Pension Service now owns 997,223 shares of the data storage provider’s stock valued at $274,625,000 after buying an additional 747,102 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Trading Down 0.0%

NASDAQ STX opened at $850.00 on Friday. The company has a market capitalization of $192.65 billion, a PE ratio of 61.24 and a beta of 2.06. The company has a fifty day moving average of $893.23 and a 200 day moving average of $681.60. Seagate Technology Holdings PLC has a 1 year low of $154.22 and a 1 year high of $1,145.00. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating the consensus estimate of $5.10 by $0.61. The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The firm’s revenue was up 48.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Research analysts forecast that Seagate Technology Holdings PLC will post 34.42 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be paid a $0.74 dividend. The ex-dividend date is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology’s dividend payout ratio is presently 21.33%.

Wall Street Analyst Weigh In

A number of brokerages have commented on STX. Evercore lifted their price target on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $1,300.00 price objective on shares of Seagate Technology in a report on Wednesday, July 29th. Zacks Research upgraded Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Wedbush lifted their target price on Seagate Technology from $825.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Finally, Melius Research assumed coverage on Seagate Technology in a research report on Monday, June 29th. They issued a “buy” rating and a $1,600.00 target price on the stock. One equities 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $986.00.

Insider Transactions at Seagate Technology

In related news, EVP Ban Seng Teh sold 7,361 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $920.80, for a total transaction of $6,778,008.80. Following the sale, the executive vice president directly owned 2,931 shares of the company’s stock, valued at $2,698,864.80. This trade represents a 71.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gianluca Romano sold 880 shares of Seagate Technology stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $845.12, for a total value of $743,705.60. Following the transaction, the chief financial officer owned 20,663 shares of the company’s stock, valued at approximately $17,462,714.56. This represents a 4.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 133,650 shares of company stock valued at $116,077,574. 0.79% of the stock is owned by 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.