WT Asset Management Ltd Purchases New Stake in Seagate Technology Holdings PLC $STX

WT Asset Management Ltd purchased a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 95,000 shares of the data storage provider’s stock, valued at approximately $22,426,000. Seagate Technology makes up 1.0% of WT Asset Management Ltd’s investment portfolio, making the stock its 22nd biggest holding.

A number of other large investors have also added to or reduced their stakes in STX. WCM Investment Management LLC bought a new position in shares of Seagate Technology during the third quarter valued at about $1,187,621,000. Norges Bank purchased a new position in Seagate Technology during the 2nd quarter valued at about $197,027,000. Boston Partners bought a new position in Seagate Technology during the 2nd quarter valued at approximately $193,500,000. Soroban Capital Partners LP lifted its holdings in Seagate Technology by 1,468.1% in the 2nd 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. Finally, Maple Rock Capital Partners Inc. grew its position in shares of Seagate Technology by 85.3% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 1,131,752 shares of the data storage provider’s stock worth $163,346,000 after buying an additional 520,846 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Down 0.7%

Shares of NASDAQ STX traded down $2.73 during trading on Friday, reaching $406.24. The company had a trading volume of 519,985 shares, compared to its average volume of 4,584,785. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $459.84. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63. The business’s 50-day moving average is $345.46 and its 200 day moving average is $264.70. The stock has a market cap of $88.59 billion, a PE ratio of 45.94, a P/E/G ratio of 0.95 and a beta of 1.62.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter in the previous year, the business posted $2.03 EPS. Seagate Technology’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. As a group, equities analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be issued a dividend of $0.74 per share. The ex-dividend date is Wednesday, March 25th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.7%. Seagate Technology’s dividend payout ratio is presently 33.48%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. UBS Group upped their price objective on shares of Seagate Technology from $385.00 to $440.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. KeyCorp set a $500.00 price objective on Seagate Technology in a research report on Wednesday, January 28th. Barclays increased their target price on Seagate Technology from $370.00 to $425.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 28th. Bank of America lifted their price target on Seagate Technology from $320.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Seagate Technology in a report on Wednesday, February 4th. One investment 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $447.35.

Insider Activity at Seagate Technology

In related news, EVP James Ci Lee sold 673 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $348.85, for a total value of $234,776.05. Following the completion of the transaction, the executive vice president directly owned 257 shares in the company, valued at $89,654.45. The trade was a 72.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total value of $204,682.50. Following the sale, the director owned 5,601 shares in the company, valued at approximately $1,528,568.91. This represents a 11.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 83,955 shares of company stock valued at $29,925,749 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Seagate Technology Company 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.