Cercano Management LLC Purchases New Position in Seagate Technology Holdings PLC $STX

Cercano Management LLC purchased a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the third quarter, Holdings Channel reports. The firm purchased 63,842 shares of the data storage provider’s stock, valued at approximately $15,071,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Horizon Corp purchased a new position in shares of Seagate Technology during the 3rd quarter valued at approximately $33,000. Physician Wealth Advisors Inc. raised its position in 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 acquiring an additional 45 shares during the period. United Community Bank lifted its holdings in Seagate Technology by 35.2% during the third quarter. United Community Bank now owns 169 shares of the data storage provider’s stock valued at $40,000 after purchasing an additional 44 shares in the last quarter. Rakuten Securities Inc. grew its position in shares of 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 purchasing an additional 168 shares during the period. Finally, MTM Investment Management LLC purchased a new stake in shares of Seagate Technology during the second quarter worth about $29,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Stock Performance

NASDAQ STX opened at $415.94 on Wednesday. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12. The stock’s fifty day moving average is $340.93 and its two-hundred day moving average is $262.56. The firm has a market capitalization of $90.71 billion, a P/E ratio of 47.05, a price-to-earnings-growth ratio of 0.95 and a beta of 1.62. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $459.84.

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

Seagate Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on STX shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of Seagate Technology in a research note on Wednesday, February 4th. Sanford C. Bernstein raised their target price on Seagate Technology from $275.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. The Goldman Sachs Group lifted their price target on Seagate Technology from $310.00 to $385.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. China Renaissance increased their price objective on Seagate Technology from $325.00 to $452.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Finally, Benchmark lifted their target price on shares of Seagate Technology from $255.00 to $325.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Eighteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $447.35.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 20,195 shares of Seagate Technology stock in a transaction 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 in the company, valued at $1,367,560.68. The trade was a 86.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $272.91, for a total value of $204,682.50. Following the transaction, the director owned 5,601 shares of the company’s stock, valued at approximately $1,528,568.91. This represents a 11.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 83,955 shares of company stock worth $29,925,749. Insiders own 0.79% of the company’s stock.

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.