Seagate Technology Holdings PLC $STX Stock Acquired by Calamos Advisors LLC

Calamos Advisors LLC lifted its position in Seagate Technology Holdings PLC (NASDAQ:STX) by 219.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,625 shares of the data storage provider’s stock after acquiring an additional 60,177 shares during the period. Calamos Advisors LLC’s holdings in Seagate Technology were worth $80,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Signature Equity Partners LLC grew its holdings in shares of Seagate Technology by 383.3% during the third quarter. Signature Equity Partners LLC now owns 29 shares of the data storage provider’s stock worth $27,000 after buying an additional 23 shares in the last quarter. Retirement Wealth Solutions LLC lifted its stake in shares of Seagate Technology by 70.6% in the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock worth $28,000 after buying an additional 12 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its position 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 acquiring an additional 15 shares during the last quarter. WealthCollab LLC boosted its position in Seagate Technology by 27.4% during the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after acquiring an additional 20 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in Seagate Technology during the 1st quarter valued at about $39,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Trading Down 1.2%

Shares of STX stock traded down $5.54 during trading on Friday, hitting $460.99. 8,272,008 shares of the stock traded hands, compared to its average volume of 5,627,659. Seagate Technology Holdings PLC has a 52-week low of $228.61 and a 52-week high of $1,145.00. The firm has a market capitalization of $105.82 billion, a P/E ratio of 24.21 and a beta of 2.16. The firm’s fifty day moving average price is $769.59 and its 200-day moving average price is $693.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.82 and a quick ratio of 1.25.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share for the quarter, topping the consensus estimate of $7.44 by $0.24. The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.15 billion. Seagate Technology had a return on equity of 252.47% and a net margin of 31.86%. The firm’s revenue for the quarter was up 61.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.61 earnings per share. As a group, research analysts forecast that Seagate Technology Holdings PLC will post 37.96 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 23rd will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, December 23rd. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.74. Seagate Technology’s dividend payout ratio is 15.55%.

Key Seagate Technology News

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

• Positive Sentiment: Recent fiscal first-quarter results beat estimates, with revenue of $4.23 billion and EPS of $7.72. Seagate also guided to about $4.8 billion in fiscal second-quarter revenue, supporting the growth case. Earnings Beat Might Change The Case For Seagate Stock
• Positive Sentiment: Growth-focused commentary argues Seagate has attributes that could support above-market performance, adding to the bullish earnings narrative. The articles do not specify additional catalysts. 3 Reasons Growth Investors Will Love Seagate
• Negative Sentiment: A report attributed a sharp decline in Seagate shares to insider selling, which can raise concerns about insiders’ confidence, even though selling alone does not establish their outlook. Seagate Technology Stock Falls on Insider Selling
• Negative Sentiment: Seagate and other AI-linked stocks faced pressure amid a wider AI-trade selloff and calls from a lawmaker to pause advanced AI development. That uncertainty may temper enthusiasm around data-storage demand tied to AI investment. Seagate Sinks as Lawmaker Urges a Pause on Advanced AI Development

Insider Activity

In other Seagate Technology news, EVP James Lee sold 547 shares of the company’s stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $642.14, for a total value of $351,250.58. Following the transaction, the executive vice president owned 1,037 shares of the company’s stock, valued at $665,899.18. This represents a 34.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ban Teh sold 52,730 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total transaction of $41,239,078.40. Following the transaction, the executive vice president directly owned 5,810 shares of the company’s stock, valued at approximately $4,543,884.80. This trade represents a 90.08% 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. In the last ninety days, insiders sold 447,108 shares of company stock worth $356,049,743. 0.51% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on STX. Susquehanna decreased their target price on shares of Seagate Technology from $925.00 to $765.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 28th. Zacks Research lowered Seagate Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. JPMorgan Chase & Co. lifted their price objective on Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Wedbush reiterated an “outperform” rating and set a $1,000.00 price objective on shares of Seagate Technology in a research report on Wednesday, October 28th. Finally, Wall Street Zen raised Seagate Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 26th. Twenty-three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,000.88.

About Seagate Technology

Seagate Technology develops and supplies data-storage products and solutions for businesses and consumers. Its portfolio includes hard disk drives (HDDs), solid-state drives, and storage systems designed for applications ranging from personal computing to large-scale data centers.

The company’s products support cloud and enterprise storage, network-attached storage, video surveillance, gaming, and other uses that require digital data to be stored and accessed. Seagate also offers data-management and storage services through its Lyve platform.

Founded in 1979, Seagate has a long history in the hard disk drive industry.