Mengis Capital Management Inc. Trims Stock Position in Seagate Technology Holdings PLC $STX

Mengis Capital Management Inc. lowered its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 14.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 5,760 shares of the data storage provider’s stock after selling 1,000 shares during the quarter. Mengis Capital Management Inc.’s holdings in Seagate Technology were worth $831,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Seagate Technology by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider’s stock valued at $2,441,729,000 after purchasing an additional 769,009 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Seagate Technology by 12.9% during the 1st quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider’s stock valued at $1,607,321,000 after purchasing an additional 2,161,191 shares during the last quarter. Invesco Ltd. increased its position in shares of Seagate Technology by 3.6% during the 1st quarter. Invesco Ltd. now owns 2,861,418 shares of the data storage provider’s stock valued at $243,077,000 after purchasing an additional 99,884 shares during the last quarter. Royal Bank of Canada increased its position in shares of Seagate Technology by 0.8% during the 1st quarter. Royal Bank of Canada now owns 1,628,941 shares of the data storage provider’s stock valued at $138,378,000 after purchasing an additional 12,424 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of Seagate Technology by 4.5% during the 1st quarter. Deutsche Bank AG now owns 1,181,460 shares of the data storage provider’s stock valued at $100,365,000 after purchasing an additional 50,699 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

STX stock opened at $221.70 on Friday. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $264.83. The company has a market capitalization of $47.22 billion, a price-to-earnings ratio of 32.75, a PEG ratio of 1.00 and a beta of 1.63. The business has a 50 day simple moving average of $189.90 and a two-hundred day simple moving average of $139.52.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.14. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the prior year, the company posted $1.05 EPS. The firm’s revenue for the quarter was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Sell-side analysts anticipate that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.3%. The ex-dividend date was Tuesday, September 30th. Seagate Technology’s dividend payout ratio is presently 42.54%.

Analyst Upgrades and Downgrades

STX has been the subject of several analyst reports. Benchmark increased their target price on shares of Seagate Technology from $165.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. The Goldman Sachs Group increased their target price on shares of Seagate Technology from $170.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays increased their target price on shares of Seagate Technology from $180.00 to $200.00 and gave the stock an “equal weight” rating in a report on Thursday, September 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of Seagate Technology in a report on Wednesday. Finally, Robert W. Baird increased their target price on shares of Seagate Technology from $120.00 to $188.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average price target of $198.58.

Insider Activity

In other news, EVP John Christopher Morris sold 15,347 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $195.80, for a total transaction of $3,004,942.60. Following the completion of the transaction, the executive vice president directly owned 9,843 shares in the company, valued at approximately $1,927,259.40. This represents a 60.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay L. Geldmacher sold 2,500 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $150.50, for a total value of $376,250.00. Following the transaction, the director owned 352 shares of the company’s stock, valued at $52,976. This represents a 87.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,210 shares of company stock worth $14,146,016. 0.79% of the stock is owned by corporate insiders.

About Seagate Technology

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.