Raiffeisen Bank International AG Reduces Position in Seagate Technology Holdings PLC $STX

Raiffeisen Bank International AG decreased its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 28.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 5,702 shares of the data storage provider’s stock after selling 2,249 shares during the quarter. Raiffeisen Bank International AG’s holdings in Seagate Technology were worth $5,523,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Citigroup upped their price target on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Mizuho boosted their target price on shares of Seagate Technology from $875.00 to $1,090.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a research note on Wednesday, June 24th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $1,350.00 price target on shares of Seagate Technology in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. lifted their price target on Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Seagate Technology has a consensus rating of “Moderate Buy” and a consensus price target of $986.00.

Seagate Technology Stock Down 1.2%

STX stock opened at $798.61 on Friday. The firm has a market cap of $181.00 billion, a price-to-earnings ratio of 57.54 and a beta of 2.06. Seagate Technology Holdings PLC has a 1-year low of $175.82 and a 1-year high of $1,145.00. The firm has a fifty day moving average price of $852.94 and a two-hundred day moving average price of $708.76. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating the consensus estimate of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same period in the previous year, the business posted $2.59 EPS. The company’s quarterly revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Research analysts predict that Seagate Technology Holdings PLC will post 35.7 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 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 is Thursday, September 24th. Seagate Technology’s payout ratio is presently 21.33%.

Insider Buying and Selling

In related news, EVP Ban Teh sold 9,862 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $852.97, for a total value of $8,411,990.14. Following the sale, the executive vice president owned 5,210 shares of the company’s stock, valued at approximately $4,443,973.70. This trade represents a 65.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 14,091 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $811.25, for a total value of $11,431,323.75. Following the transaction, the chief financial officer owned 21,543 shares of the company’s stock, valued at $17,476,758.75. This represents a 39.54% 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. In the last ninety days, insiders have sold 191,765 shares of company stock valued at $161,865,249. 0.79% of the stock is currently owned by insiders.

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.