Advisors Capital Management LLC Sells 98,065 Shares of Seagate Technology Holdings PLC $STX

Advisors Capital Management LLC lessened its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 33.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 195,421 shares of the data storage provider’s stock after selling 98,065 shares during the period. Advisors Capital Management LLC owned about 0.09% of Seagate Technology worth $46,131,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. WCM Investment Management LLC bought a new position in Seagate Technology in the third quarter worth approximately $1,187,621,000. Norges Bank purchased a new position in shares of Seagate Technology in the 2nd quarter valued at $197,027,000. Boston Partners bought a new position in shares of Seagate Technology in the 2nd quarter worth $193,500,000. Soroban Capital Partners LP raised its position in shares of Seagate Technology by 1,468.1% in the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after acquiring an additional 1,327,197 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. lifted its stake in shares of Seagate Technology by 85.3% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 1,131,752 shares of the data storage provider’s stock worth $163,346,000 after purchasing an additional 520,846 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

STX has been the topic of several analyst reports. Mizuho lifted their target price on Seagate Technology from $440.00 to $475.00 and gave the company an “outperform” rating in a research note on Tuesday. Susquehanna upgraded shares of Seagate Technology from a “negative” rating to a “neutral” rating and boosted their price objective for the stock from $150.00 to $280.00 in a research note on Friday, January 16th. Zacks Research cut shares of Seagate Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Fox Advisors upped their price target on Seagate Technology from $245.00 to $270.00 in a research report on Wednesday, October 29th. Finally, Evercore increased their price objective on Seagate Technology from $330.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. Eighteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and a consensus target price of $447.35.

Seagate Technology Trading Down 2.4%

NASDAQ:STX opened at $415.94 on Wednesday. The company has a market capitalization of $90.71 billion, a P/E ratio of 47.05, a PEG ratio of 0.95 and a beta of 1.62. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $459.84. The firm has a fifty day simple moving average of $340.93 and a 200-day simple moving average of $262.56.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.73 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The firm’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the business posted $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, equities research analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be given a $0.74 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $2.96 dividend on an annualized basis and a yield of 0.7%. Seagate Technology’s dividend payout ratio is currently 33.48%.

Insider Buying and Selling

In related news, Director Jay L. Geldmacher sold 925 shares of the firm’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $448.02, for a total transaction of $414,418.50. Following the completion of the transaction, the director owned 223 shares of the company’s stock, valued at $99,908.46. This trade represents a 80.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 20,195 shares of the company’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $442.29, for a total transaction of $8,932,046.55. Following the completion of the sale, the executive vice president directly owned 3,092 shares in the company, valued at approximately $1,367,560.68. The trade was a 86.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 83,955 shares of company stock worth $29,925,749 in the last quarter. 0.79% of the stock is currently owned by corporate insiders.

Seagate Technology Company Profile

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.