Ingalls & Snyder LLC Buys Shares of 1,350 Seagate Technology Holdings PLC $STX

Ingalls & Snyder LLC purchased a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) in the 3rd quarter, Holdings Channel reports. The firm purchased 1,350 shares of the data storage provider’s stock, valued at approximately $319,000.

Several other hedge funds also recently modified their holdings of the company. Rakuten Securities Inc. raised its position 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 purchasing an additional 168 shares during the last quarter. MTM Investment Management LLC bought a new position in Seagate Technology in the 2nd quarter valued at approximately $29,000. First Horizon Corp acquired a new stake in Seagate Technology during the 3rd quarter worth approximately $33,000. Physician Wealth Advisors Inc. grew its holdings in Seagate Technology by 43.7% during the 3rd 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 last quarter. Finally, United Community Bank increased its position in Seagate Technology by 35.2% in the 3rd quarter. United Community Bank now owns 169 shares of the data storage provider’s stock valued at $40,000 after acquiring an additional 44 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Price Performance

Seagate Technology stock opened at $424.14 on Thursday. The stock has a market capitalization of $92.49 billion, a price-to-earnings ratio of 47.98, a PEG ratio of 0.93 and a beta of 1.62. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $459.84. 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 50 day moving average price is $343.44 and its two-hundred day moving average price is $263.69.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same quarter in the previous year, the business posted $2.03 EPS. Seagate Technology’s revenue for the quarter 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, equities analysts predict that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

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

Insider Buying and Selling

In related news, Director Jay L. Geldmacher sold 925 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $448.02, for a total transaction of $414,418.50. Following the transaction, the director directly owned 223 shares of the company’s stock, valued at approximately $99,908.46. This represents a 80.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ban Seng Teh sold 20,195 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $442.29, for a total value of $8,932,046.55. Following the completion of the sale, the executive vice president directly 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 83,955 shares of company stock worth $29,925,749 over the last 90 days. 0.79% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

STX has been the topic of several analyst reports. Loop Capital boosted their price objective on shares of Seagate Technology from $465.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Cantor Fitzgerald lifted their target price on Seagate Technology from $500.00 to $650.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th. Wells Fargo & Company increased their price target on Seagate Technology from $360.00 to $450.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 28th. The Goldman Sachs Group raised their price objective on Seagate Technology from $310.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Finally, Citigroup upped their target price on Seagate Technology from $460.00 to $480.00 and gave the company a “buy” rating in a report on Friday, February 6th. Eighteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $447.35.

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.