NEOS Investment Management LLC Boosts Position in Seagate Technology Holdings PLC $STX

NEOS Investment Management LLC raised its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 13.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 166,382 shares of the data storage provider’s stock after acquiring an additional 19,624 shares during the period. Seagate Technology makes up about 0.6% of NEOS Investment Management LLC’s portfolio, making the stock its 29th biggest position. NEOS Investment Management LLC’s holdings in Seagate Technology were worth $160,559,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in STX. Praxis Investment Management Inc. raised its position in Seagate Technology by 56.5% during the fourth quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider’s stock valued at $1,822,000 after acquiring an additional 2,389 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Seagate Technology by 85.9% in the first quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock valued at $8,637,000 after acquiring an additional 10,190 shares during the period. GLOBALT Investments LLC GA boosted its position in Seagate Technology by 820.8% in the 4th quarter. GLOBALT Investments LLC GA now owns 9,760 shares of the data storage provider’s stock worth $2,688,000 after purchasing an additional 8,700 shares in the last quarter. ASR Vermogensbeheer N.V. boosted its position in Seagate Technology by 21.0% in the 4th quarter. ASR Vermogensbeheer N.V. now owns 23,471 shares of the data storage provider’s stock worth $6,463,000 after purchasing an additional 4,070 shares in the last quarter. Finally, Tredje AP fonden grew its stake in shares of Seagate Technology by 446.6% during the 4th quarter. Tredje AP fonden now owns 111,339 shares of the data storage provider’s stock worth $30,662,000 after purchasing an additional 90,968 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Trading Down 1.2%

STX stock opened at $798.61 on Friday. The business’s 50-day moving average is $852.94 and its 200 day moving average is $708.76. Seagate Technology Holdings PLC has a 12-month low of $175.82 and a 12-month high of $1,145.00. The stock has a market cap of $181.00 billion, a price-to-earnings ratio of 57.54 and a beta of 2.06. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, beating the consensus estimate of $5.10 by $0.61. The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The business’s quarterly revenue was up 48.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, sell-side analysts anticipate that Seagate Technology Holdings PLC will post 35.7 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology’s payout ratio is 21.33%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on STX shares. Evercore lifted their target price on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Loop Capital raised their price target on shares of Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Mizuho lifted their price objective on shares of Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a report on Monday, June 8th. TD Cowen upped their price objective on shares of Seagate Technology from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, Fox Advisors lowered shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average target price of $986.00.

Insider Buying and Selling at Seagate Technology

In related news, CEO William Mosley sold 30,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $816.28, for a total transaction of $24,488,400.00. Following the transaction, the chief executive officer directly owned 295,168 shares in the company, valued at approximately $240,939,735.04. The trade was a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal 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, EVP Ban Teh sold 9,862 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $852.97, for a total transaction of $8,411,990.14. Following the sale, the executive vice president directly owned 5,210 shares of the company’s stock, valued at approximately $4,443,973.70. This represents a 65.43% decrease in their position. 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. Over the last three months, insiders have sold 191,765 shares of company stock valued at $161,865,249. 0.79% of the stock is owned by company 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.