Rhumbline Advisers Decreases Stake in Seagate Technology Holdings PLC $STX

Rhumbline Advisers cut its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 3.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 238,518 shares of the data storage provider’s stock after selling 8,350 shares during the quarter. Rhumbline Advisers owned approximately 0.11% of Seagate Technology worth $56,304,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. First Horizon Corp purchased a new stake in shares of Seagate Technology in the 3rd quarter valued at approximately $33,000. Physician Wealth Advisors Inc. grew its stake in shares of Seagate Technology by 43.7% during the third quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock worth $35,000 after purchasing an additional 45 shares in the last quarter. United Community Bank grew its stake in shares of Seagate Technology by 35.2% during the third quarter. United Community Bank now owns 169 shares of the data storage provider’s stock worth $40,000 after purchasing an additional 44 shares in the last quarter. Harbor Asset Planning Inc. purchased a new position in Seagate Technology in the second quarter valued at $27,000. Finally, Rakuten Securities Inc. raised its stake in Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after buying an additional 168 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Activity at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $429.27, for a total value of $8,585,400.00. Following the transaction, the chief executive officer directly owned 410,056 shares in the company, valued at approximately $176,024,739.12. This trade represents a 4.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ban Seng Teh sold 20,195 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $442.29, for a total value of $8,932,046.55. Following the sale, the executive vice president owned 3,092 shares of the company’s stock, valued at $1,367,560.68. This trade represents a 86.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 83,955 shares of company stock worth $29,925,749 in the last ninety days. Company insiders own 0.79% of the company’s stock.

Seagate Technology Stock Performance

Shares of STX opened at $425.99 on Friday. The company’s 50 day simple moving average is $335.46 and its 200-day simple moving average is $257.32. The firm has a market cap of $92.90 billion, a PE ratio of 48.19, a price-to-earnings-growth ratio of 0.96 and a beta of 1.62. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $459.84. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.73 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. Seagate Technology’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, equities analysts predict that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th will be paid a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $2.96 annualized dividend and a yield of 0.7%. Seagate Technology’s dividend payout ratio is currently 33.48%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on STX. Evercore upped their price objective on Seagate Technology from $330.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. Fox Advisors upped their price target on Seagate Technology from $245.00 to $270.00 in a report on Wednesday, October 29th. Benchmark increased their price target on shares of Seagate Technology from $255.00 to $325.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Susquehanna upgraded shares of Seagate Technology from a “negative” rating to a “neutral” rating and boosted their price objective for the stock from $150.00 to $280.00 in a research report on Friday, January 16th. Finally, Sanford C. Bernstein increased their target price on shares of Seagate Technology from $275.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Eighteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $444.09.

Seagate Technology Profile

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.