Seagate Technology Holdings PLC $STX Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 5.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,170 shares of the data storage provider’s stock after acquiring an additional 3,244 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Seagate Technology were worth $53,653,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Retirement Wealth Solutions LLC boosted its position in Seagate Technology by 70.6% in the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 12 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 15 shares during the last quarter. WealthCollab LLC increased its position in shares of Seagate Technology by 27.4% during the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 20 shares during the last quarter. McMillan Office Inc. purchased a new stake in shares of Seagate Technology during the 1st quarter valued at $39,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Seagate Technology during the 1st quarter worth $39,000. 92.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

STX has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Seagate Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. Argus increased their price target on shares of Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Morgan Stanley raised their price objective on shares of Seagate Technology from $1,035.00 to $1,187.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Rosenblatt Securities lifted their price objective on shares of Seagate Technology from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,300.00 price objective on shares of Seagate Technology in a research report on Wednesday, July 29th. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $973.40.

Seagate Technology Stock Performance

NASDAQ:STX opened at $660.81 on Tuesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. The business has a fifty day simple moving average of $839.57 and a two-hundred day simple moving average of $806.45. Seagate Technology Holdings PLC has a 1 year low of $209.00 and a 1 year high of $1,145.00. The company has a market capitalization of $150.26 billion, a P/E ratio of 47.61 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. The firm had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%. The business’s revenue for the quarter was up 48.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, analysts expect that Seagate Technology Holdings PLC will post 35.70 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Investors of record on Thursday, September 24th were paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Thursday, September 24th. Seagate Technology’s payout ratio is currently 21.33%.

Insider Buying and Selling at Seagate Technology

In other news, CEO William Mosley sold 11,002 shares of Seagate Technology stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $935.60, for a total value of $10,293,471.20. Following the completion of the transaction, the chief executive officer owned 362,108 shares in the company, valued at $338,788,244.80. This trade represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Teh sold 52,730 shares of Seagate Technology stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total transaction of $41,239,078.40. Following the completion of the transaction, the executive vice president owned 5,810 shares of the company’s stock, valued at $4,543,884.80. The trade was a 90.08% 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. Insiders sold 466,959 shares of company stock valued at $378,840,741 in the last three months. 0.51% of the stock is owned by company insiders.

Seagate Technology Company Profile

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.