Seagate Technology Holdings PLC $STX Stock Position Lifted by Calamos Advisors LLC

Calamos Advisors LLC boosted its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 219.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 87,625 shares of the data storage provider’s stock after buying an additional 60,177 shares during the quarter. Calamos Advisors LLC’s holdings in Seagate Technology were worth $80,820,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Alta Advisers Ltd raised its stake in shares of Seagate Technology by 28.8% in the third quarter. Alta Advisers Ltd now owns 15,668 shares of the data storage provider’s stock valued at $14,451,000 after acquiring an additional 3,502 shares in the last quarter. Westside Investment Management Inc. increased its holdings in Seagate Technology by 2.2% during the 3rd quarter. Westside Investment Management Inc. now owns 3,300 shares of the data storage provider’s stock worth $3,034,000 after purchasing an additional 70 shares during the period. Kestra Advisory Services LLC increased its holdings in Seagate Technology by 14.8% during the 3rd quarter. Kestra Advisory Services LLC now owns 17,679 shares of the data storage provider’s stock worth $16,306,000 after purchasing an additional 2,282 shares during the period. Richardson Financial Services Inc. raised its position in Seagate Technology by 40.7% in the 3rd quarter. Richardson Financial Services Inc. now owns 892 shares of the data storage provider’s stock valued at $823,000 after purchasing an additional 258 shares in the last quarter. Finally, Ascent Group LLC boosted its stake in shares of Seagate Technology by 1.8% in the 3rd quarter. Ascent Group LLC now owns 7,529 shares of the data storage provider’s stock valued at $6,944,000 after buying an additional 135 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

Shares of STX stock traded down $5.54 during trading hours on Friday, hitting $460.99. The stock had a trading volume of 8,272,008 shares, compared to its average volume of 5,627,659. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.82 and a quick ratio of 1.25. The firm has a market capitalization of $105.82 billion, a PE ratio of 24.21 and a beta of 2.16. Seagate Technology Holdings PLC has a twelve month low of $228.61 and a twelve month high of $1,145.00. The stock’s 50 day moving average is $769.59 and its 200 day moving average is $693.82.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share for the quarter, topping the consensus estimate of $7.44 by $0.24. Seagate Technology had a net margin of 31.86% and a return on equity of 252.47%. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the firm earned $2.61 earnings per share. The business’s quarterly revenue was up 61.0% compared to the same quarter last year. As a group, research analysts forecast that Seagate Technology Holdings PLC will post 37.96 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Wednesday, December 23rd will be paid a dividend of $0.76 per share. This is a boost from Seagate Technology’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Wednesday, December 23rd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.7%. Seagate Technology’s dividend payout ratio is currently 15.55%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Summit Insights downgraded Seagate Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, October 28th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $1,350.00 price target on shares of Seagate Technology in a research note on Wednesday, July 29th. Barclays boosted their price target on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Wells Fargo & Company dropped their price objective on shares of Seagate Technology from $865.00 to $820.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 28th. Finally, Cantor Fitzgerald reduced their price objective on shares of Seagate Technology from $1,300.00 to $1,000.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Twenty-three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,000.88.

Key Seagate Technology News

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Recent fiscal first-quarter results beat estimates, with revenue of $4.23 billion and EPS of $7.72. Seagate also guided to about $4.8 billion in fiscal second-quarter revenue, supporting the growth case. Earnings Beat Might Change The Case For Seagate Stock
• Positive Sentiment: Growth-focused commentary argues Seagate has attributes that could support above-market performance, adding to the bullish earnings narrative. The articles do not specify additional catalysts. 3 Reasons Growth Investors Will Love Seagate
• Negative Sentiment: A report attributed a sharp decline in Seagate shares to insider selling, which can raise concerns about insiders’ confidence, even though selling alone does not establish their outlook. Seagate Technology Stock Falls on Insider Selling
• Negative Sentiment: Seagate and other AI-linked stocks faced pressure amid a wider AI-trade selloff and calls from a lawmaker to pause advanced AI development. That uncertainty may temper enthusiasm around data-storage demand tied to AI investment. Seagate Sinks as Lawmaker Urges a Pause on Advanced AI Development

Insider Transactions at Seagate Technology

In other Seagate Technology news, CFO Gianluca Romano sold 49,984 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $772.16, for a total transaction of $38,595,645.44. Following the sale, the chief financial officer directly owned 70,756 shares in the company, valued at approximately $54,634,952.96. The trade was a 41.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William D. Mosley sold 97,889 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $772.14, for a total transaction of $75,584,012.46. Following the completion of the sale, the chief executive officer owned 378,108 shares in the company, valued at $291,952,311.12. This represents a 20.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 447,108 shares of company stock valued at $356,049,743. Company insiders own 0.51% of the company’s stock.

Seagate Technology Profile

Seagate Technology develops and supplies data-storage products and solutions for businesses and consumers. Its portfolio includes hard disk drives (HDDs), solid-state drives, and storage systems designed for applications ranging from personal computing to large-scale data centers.

The company’s products support cloud and enterprise storage, network-attached storage, video surveillance, gaming, and other uses that require digital data to be stored and accessed. Seagate also offers data-management and storage services through its Lyve platform.

Founded in 1979, Seagate has a long history in the hard disk drive industry.