Levin Capital Strategies L.P. Makes New $340,000 Investment in Seagate Technology Holdings PLC $STX

Levin Capital Strategies L.P. purchased a new stake in Seagate Technology Holdings PLC (NASDAQ:STX) in the 1st quarter, Holdings Channel.com reports. The firm purchased 867 shares of the data storage provider’s stock, valued at approximately $340,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. grew its position in shares of Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 168 shares during the last quarter. Salomon & Ludwin LLC raised its holdings in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 51 shares in the last quarter. Avion Wealth lifted its holdings in shares of Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after buying an additional 79 shares during the period. Concord Wealth Partners bought a new stake in Seagate Technology in the fourth quarter worth about $28,000. Finally, Quarry LP acquired a new stake in Seagate Technology during the fourth quarter valued at approximately $31,000. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Price Performance

Shares of STX stock opened at $913.36 on Friday. Seagate Technology Holdings PLC has a 12 month low of $138.30 and a 12 month high of $1,145.00. The company has a market capitalization of $204.80 billion, a P/E ratio of 86.66 and a beta of 2.04. The stock has a 50 day moving average of $892.03 and a two-hundred day moving average of $608.50. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.59. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.Seagate Technology’s quarterly revenue was up 44.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities analysts expect that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th were issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, June 24th. Seagate Technology’s payout ratio is 28.08%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on STX shares. Zacks Research lowered Seagate Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Citigroup increased their price objective on Seagate Technology from $1,150.00 to $1,240.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Bank of America lifted their target price on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Loop Capital upped their price target on Seagate Technology from $950.00 to $1,140.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a research report on Wednesday, June 24th. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $898.52.

Insider Buying and Selling at Seagate Technology

In other news, EVP John Christopher Morris sold 5,626 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $738.37, for a total value of $4,154,069.62. Following the completion of the transaction, the executive vice president owned 11,954 shares in the company, valued at approximately $8,826,474.98. This represents a 32.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the transaction, the chief executive officer directly owned 339,591 shares of the company’s stock, valued at $255,131,322.39. The trade was a 8.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 151,069 shares of company stock worth $126,191,753. Corporate insiders own 0.79% of the company’s stock.

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.