Foster & Motley Inc. Acquires New Holdings in Seagate Technology Holdings PLC $STX

Foster & Motley Inc. bought a new stake in Seagate Technology Holdings PLC (NASDAQ:STX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 800 shares of the data storage provider’s stock, valued at approximately $772,000.

Several other hedge funds also recently bought and sold shares of the stock. Bridgewater Advisors Inc. raised its stake in shares of Seagate Technology by 0.9% in the 1st quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock valued at $579,000 after acquiring an additional 13 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 15 shares during the period. Beaumont Financial Advisors LLC increased its holdings in Seagate Technology by 2.1% in the 1st quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider’s stock valued at $321,000 after purchasing an additional 17 shares during the last quarter. Cornerstone Wealth Group LLC increased its holdings in Seagate Technology by 0.5% in the 1st quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider’s stock valued at $1,388,000 after purchasing an additional 19 shares during the last quarter. Finally, WealthCollab LLC raised its position in Seagate Technology by 27.4% in the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Activity

In other news, EVP Ban Seng Teh sold 7,361 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $920.80, for a total transaction of $6,778,008.80. Following the completion of the transaction, the executive vice president directly owned 2,931 shares of the company’s stock, valued at approximately $2,698,864.80. The trade was a 71.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Gianluca Romano sold 14,091 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $811.25, for a total transaction of $11,431,323.75. Following the sale, the chief financial officer owned 21,543 shares in the company, valued at $17,476,758.75. The trade was a 39.54% decrease in their ownership of the stock. 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 sold 133,650 shares of company stock worth $116,077,574. 0.79% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Sanford C. Bernstein restated an “outperform” rating and set a $1,350.00 price target on shares of Seagate Technology in a research report on Wednesday, July 29th. Morgan Stanley increased their target price on Seagate Technology from $1,035.00 to $1,187.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Loop Capital raised their target price on Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a report on Friday, May 15th. TD Cowen lifted their target price on Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Finally, Zacks Research upgraded shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $986.00.

Seagate Technology Stock Down 7.9%

Seagate Technology stock opened at $832.56 on Thursday. Seagate Technology Holdings PLC has a twelve month low of $152.50 and a twelve month high of $1,145.00. The stock’s fifty day simple moving average is $895.20 and its 200-day simple moving average is $677.30. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $188.70 billion, a P/E ratio of 59.98 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The firm had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same period last year, the business posted $2.59 earnings per share. Seagate Technology’s revenue was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, equities analysts expect that Seagate Technology Holdings PLC will post 34.42 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, September 24th. Seagate Technology’s dividend payout ratio (DPR) is presently 21.33%.

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.