Intech Investment Management LLC Boosts Stock Position in Seagate Technology Holdings PLC $STX

Intech Investment Management LLC raised its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 719.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,968 shares of the data storage provider’s stock after purchasing an additional 46,502 shares during the quarter. Intech Investment Management LLC’s holdings in Seagate Technology were worth $14,587,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Foundations Investment Advisors LLC grew its stake in Seagate Technology by 42.7% during the 4th quarter. Foundations Investment Advisors LLC now owns 2,184 shares of the data storage provider’s stock valued at $601,000 after purchasing an additional 654 shares during the last quarter. Baker Avenue Asset Management LP grew its stake in Seagate Technology by 1,255.8% during the 4th quarter. Baker Avenue Asset Management LP now owns 9,327 shares of the data storage provider’s stock valued at $2,569,000 after purchasing an additional 10,134 shares during the last quarter. Thoroughbred Financial Services LLC grew its stake in Seagate Technology by 42.8% during the 4th quarter. Thoroughbred Financial Services LLC now owns 4,015 shares of the data storage provider’s stock valued at $1,105,000 after purchasing an additional 1,203 shares during the last quarter. Arista Wealth Management LLC purchased a new stake in Seagate Technology during the 4th quarter valued at about $330,000. Finally, Kingsview Wealth Management LLC grew its stake in Seagate Technology by 58.0% during the 4th quarter. Kingsview Wealth Management LLC now owns 2,897 shares of the data storage provider’s stock valued at $798,000 after purchasing an additional 1,064 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on STX. Bank of America boosted their price target on Seagate Technology from $840.00 to $900.00 and gave the company a “buy” rating in a research note on Tuesday. Citigroup boosted their price target on Seagate Technology from $595.00 to $740.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Wall Street Zen upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. BNP Paribas Exane upped their target price on Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Finally, Loop Capital upped their target price on Seagate Technology from $950.00 to $1,140.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average target price of $746.63.

Insider Buying and Selling

In related news, EVP John Christopher Morris sold 5,626 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $738.37, for a total value of $4,154,069.62. Following the completion of the transaction, the executive vice president owned 11,954 shares of the company’s stock, valued at approximately $8,826,474.98. This represents a 32.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total value of $22,538,700.00. Following the completion of the transaction, the chief executive officer directly owned 339,591 shares of the company’s stock, valued at $255,131,322.39. The trade was a 8.12% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 142,437 shares of company stock worth $86,093,575 in the last ninety days. 0.79% of the stock is owned by corporate insiders.

Seagate Technology Stock Down 0.1%

Shares of STX opened at $879.80 on Friday. Seagate Technology Holdings PLC has a 52 week low of $116.28 and a 52 week high of $905.39. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The company has a market capitalization of $197.28 billion, a price-to-earnings ratio of 83.47 and a beta of 1.98. The stock’s 50-day moving average price is $612.03 and its 200-day moving average price is $432.02.

Seagate Technology (NASDAQ:STX) last issued its 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. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the business earned $1.90 earnings per share. The company’s revenue was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, sell-side analysts predict that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.

Seagate Technology Announces Dividend

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

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.