QRG Capital Management Inc. Reduces Holdings in Seagate Technology Holdings PLC $STX

QRG Capital Management Inc. lessened its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 48.8% in the first quarter, HoldingsChannel.com reports. The firm owned 18,255 shares of the data storage provider’s stock after selling 17,395 shares during the quarter. QRG Capital Management Inc.’s holdings in Seagate Technology were worth $7,151,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. HB Wealth Management LLC boosted its position in Seagate Technology by 31.4% during the 1st quarter. HB Wealth Management LLC now owns 7,012 shares of the data storage provider’s stock valued at $2,747,000 after buying an additional 1,674 shares during the period. Baer Investment Advisory LLC purchased a new position in shares of Seagate Technology in the first quarter valued at about $297,000. Turtle Creek Wealth Advisors LLC increased its position in shares of Seagate Technology by 26.2% in the first quarter. Turtle Creek Wealth Advisors LLC now owns 1,586 shares of the data storage provider’s stock valued at $621,000 after acquiring an additional 329 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Seagate Technology during the first quarter valued at about $4,244,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Seagate Technology by 59.1% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 54,108 shares of the data storage provider’s stock valued at $21,197,000 after acquiring an additional 20,100 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $820.16 on Monday. The firm’s 50 day moving average price is $853.32 and its 200-day moving average price is $552.19. Seagate Technology Holdings PLC has a 52-week low of $138.30 and a 52-week high of $1,145.00. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. The company has a market cap of $183.90 billion, a PE ratio of 77.81 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the previous year, the business earned $1.90 earnings per share. The company’s revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities research analysts expect that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

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

Insider Transactions at Seagate Technology

In other news, EVP Ban Seng Teh sold 989 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $870,507.91. Following the completion of the sale, the executive vice president owned 4,290 shares of the company’s stock, valued at $3,776,015.10. This represents a 18.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 9,343 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $924.42, for a total transaction of $8,636,856.06. Following the completion of the transaction, the chief executive officer owned 311,517 shares in the company, valued at $287,972,545.14. This trade represents a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 151,069 shares of company stock valued at $126,191,753. 0.79% of the stock is owned by company insiders.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Zacks upgraded Seagate to Strong Buy, citing improving earnings expectations and bullish momentum around the company’s outlook. Seagate (STX) Upgraded to Strong Buy: Here’s What You Should Know
• Positive Sentiment: Another Zacks note argued Seagate remains an attractive growth stock, pointing to strong business fundamentals and potential for continued upside. Seagate (STX) is an Incredible Growth Stock: 3 Reasons Why
• Positive Sentiment: Analysts also highlighted Seagate’s surging data center business, helped by cloud demand, Mozaic adoption, and long-term supply agreements that could support revenue growth through fiscal 2027. Can Seagate’s Data Center Business Maintain its Growth Momentum?

Analyst Ratings Changes

STX has been the topic of a number of recent analyst reports. Argus lifted their price objective on Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. UBS Group upped their target price on Seagate Technology from $515.00 to $545.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Barclays raised their price target on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Sanford C. Bernstein lifted their price target on shares of Seagate Technology from $620.00 to $1,000.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Finally, Cantor Fitzgerald boosted their price objective on shares of Seagate Technology from $1,000.00 to $1,300.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Twenty-one research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $880.52.

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.