Holocene Advisors LP Sells 40,405 Shares of Seagate Technology Holdings PLC $STX

Holocene Advisors LP decreased its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 17.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 188,008 shares of the data storage provider’s stock after selling 40,405 shares during the period. Holocene Advisors LP’s holdings in Seagate Technology were worth $44,381,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Fred Alger Management LLC acquired a new stake in shares of Seagate Technology in the 3rd quarter valued at $9,827,000. Focus Partners Wealth boosted its holdings in Seagate Technology by 1,923.8% in the third quarter. Focus Partners Wealth now owns 194,204 shares of the data storage provider’s stock worth $45,845,000 after purchasing an additional 184,608 shares in the last quarter. Elevation Point Wealth Partners LLC increased its position in Seagate Technology by 30.1% during the third quarter. Elevation Point Wealth Partners LLC now owns 1,371 shares of the data storage provider’s stock worth $325,000 after buying an additional 317 shares during the last quarter. Eminence Capital LP bought a new position in Seagate Technology during the third quarter valued at about $9,169,000. Finally, California Public Employees Retirement System raised its holdings in Seagate Technology by 3.5% during the third quarter. California Public Employees Retirement System now owns 356,652 shares of the data storage provider’s stock valued at $84,191,000 after buying an additional 12,182 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on STX. Citigroup upped their price target on Seagate Technology from $460.00 to $480.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Barclays raised their price objective on Seagate Technology from $370.00 to $425.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 28th. Loop Capital upped their target price on Seagate Technology from $465.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Bank of America increased their price target on Seagate Technology from $320.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Finally, Wedbush lifted their price target on shares of Seagate Technology from $290.00 to $380.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average target price of $447.35.

Seagate Technology Trading Up 3.9%

Seagate Technology stock opened at $398.78 on Tuesday. 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 firm has a market capitalization of $86.96 billion, a PE ratio of 45.11, a PEG ratio of 0.85 and a beta of 1.61. The business’s 50-day simple moving average is $380.42 and its 200-day simple moving average is $293.80.

Seagate Technology (NASDAQ:STX) last announced its earnings results 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. The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.73 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Equities research analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm 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 $0.74 dividend. This represents a $2.96 annualized dividend 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 currently 33.48%.

Insiders Place Their Bets

In related news, EVP Kian Fatt Chong sold 5,846 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $416.48, for a total transaction of $2,434,742.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jay L. Geldmacher sold 925 shares of the stock in a transaction on Friday, January 30th. The shares were sold at an average price of $448.02, for a total transaction of $414,418.50. Following the completion of the sale, the director directly owned 223 shares of the company’s stock, valued at approximately $99,908.46. This trade represents a 80.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 89,051 shares of company stock valued at $34,430,409 in the last 90 days. 0.79% of the stock is currently owned by corporate 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.