Legal & General Group Plc Lowers Position in Seagate Technology Holdings PLC $STX

Legal & General Group Plc lowered its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,524,131 shares of the data storage provider’s stock after selling 11,544 shares during the period. Legal & General Group Plc’s holdings in Seagate Technology were worth $419,730,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Integrated Wealth Concepts LLC raised its holdings in shares of Seagate Technology by 168.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock valued at $610,000 after buying an additional 4,499 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Seagate Technology during the 2nd quarter valued at about $262,000. Cerity Partners LLC raised its holdings in shares of Seagate Technology by 25.8% during the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock valued at $5,294,000 after buying an additional 7,517 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Seagate Technology by 64.8% during the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock valued at $1,233,000 after buying an additional 3,358 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Seagate Technology by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider’s stock valued at $18,458,000 after buying an additional 462 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on STX shares. Barclays raised their price objective on Seagate Technology from $625.00 to $750.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. BNP Paribas Exane raised their price objective on Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Susquehanna raised their price objective on Seagate Technology from $485.00 to $615.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Loop Capital raised their price objective on Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, TD Cowen raised their price objective on Seagate Technology from $500.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and a consensus price target of $733.71.

Insiders Place Their Bets

In other Seagate Technology news, CFO Gianluca Romano sold 22,488 shares of Seagate Technology stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total value of $17,410,659.36. Following the transaction, the chief financial officer directly owned 42,847 shares of the company’s stock, valued at $33,173,004.34. The trade was a 34.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephanie Tilenius sold 1,580 shares of Seagate Technology stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $766.61, for a total value of $1,211,243.80. Following the completion of the sale, the director owned 10,664 shares in the company, valued at approximately $8,175,129.04. This represents a 12.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 142,437 shares of company stock worth $86,093,575. 0.79% of the stock is currently owned by corporate insiders.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $812.73 on Tuesday. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The business’s 50 day simple moving average is $574.69 and its two-hundred day simple moving average is $416.45. The stock has a market capitalization of $182.24 billion, a P/E ratio of 77.11 and a beta of 1.98. Seagate Technology Holdings PLC has a one year low of $108.28 and a one year high of $841.31.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The business’s quarterly revenue was up 44.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Analysts forecast that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology’s payout ratio is 28.08%.

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.