Zweig DiMenna Associates LLC Purchases 6,125 Shares of Seagate Technology Holdings PLC $STX

Zweig DiMenna Associates LLC raised its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 8.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 76,225 shares of the data storage provider’s stock after purchasing an additional 6,125 shares during the quarter. Seagate Technology accounts for approximately 1.3% of Zweig DiMenna Associates LLC’s holdings, making the stock its 20th biggest position. Zweig DiMenna Associates LLC’s holdings in Seagate Technology were worth $17,994,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Integrated Wealth Concepts LLC raised its position in Seagate Technology by 168.0% in the first quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock worth $610,000 after acquiring an additional 4,499 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Seagate Technology in the 2nd quarter worth $262,000. CWM LLC raised its holdings in Seagate Technology by 153.6% in the 2nd quarter. CWM LLC now owns 9,360 shares of the data storage provider’s stock worth $1,351,000 after purchasing an additional 5,669 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Seagate Technology by 21.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 61,263 shares of the data storage provider’s stock valued at $8,886,000 after purchasing an additional 10,847 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Seagate Technology during the second quarter valued at about $271,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Down 1.2%

Shares of NASDAQ:STX opened at $425.99 on Tuesday. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72. The business has a 50 day simple moving average of $338.27 and a two-hundred day simple moving average of $260.72. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $459.84. The firm has a market capitalization of $92.90 billion, a PE ratio of 48.19, a price-to-earnings-growth ratio of 0.95 and a beta of 1.62.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.34. The business 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 business’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period last year, the company earned $2.03 earnings per share. 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 EPS for the current year.

Seagate Technology Dividend Announcement

The firm 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 dividend of $0.74 per share. The ex-dividend date is Wednesday, March 25th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.7%. Seagate Technology’s payout ratio is presently 33.48%.

Insider Activity

In related news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total transaction of $204,682.50. Following the completion of the transaction, the director owned 5,601 shares in the company, valued at $1,528,568.91. This represents a 11.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Ci Lee sold 673 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $348.85, for a total transaction of $234,776.05. Following the sale, the executive vice president owned 257 shares of the company’s stock, valued at $89,654.45. This represents a 72.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 83,955 shares of company stock valued at $29,925,749 over the last 90 days. Company insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Zacks Research downgraded Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Susquehanna upgraded shares of Seagate Technology from a “negative” rating to a “neutral” rating and raised their target price for the stock from $150.00 to $280.00 in a research note on Friday, January 16th. UBS Group upped their price target on shares of Seagate Technology from $385.00 to $440.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Wells Fargo & Company raised their price objective on shares of Seagate Technology from $360.00 to $450.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 28th. Finally, Rosenblatt Securities upped their target price on shares of Seagate Technology from $370.00 to $500.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Eighteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $444.09.

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.