Fifth Third Bancorp Decreases Stock Position in Seagate Technology Holdings PLC $STX

Fifth Third Bancorp decreased its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 24.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,580 shares of the data storage provider’s stock after selling 9,682 shares during the period. Fifth Third Bancorp’s holdings in Seagate Technology were worth $7,219,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. First Horizon Corp purchased a new position in Seagate Technology during the 3rd quarter valued at approximately $33,000. Physician Wealth Advisors Inc. grew its holdings in shares of Seagate Technology by 43.7% in the third quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock valued at $35,000 after purchasing an additional 45 shares in the last quarter. United Community Bank grew its holdings in shares of Seagate Technology by 35.2% in the third quarter. United Community Bank now owns 169 shares of the data storage provider’s stock valued at $40,000 after purchasing an additional 44 shares in the last quarter. Rakuten Securities Inc. increased its position in Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 168 shares during the last quarter. Finally, MTM Investment Management LLC purchased a new stake in Seagate Technology during the second quarter valued at $29,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Price Performance

Seagate Technology stock opened at $415.94 on Wednesday. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72. The stock has a market cap of $90.71 billion, a price-to-earnings ratio of 47.05, a price-to-earnings-growth ratio of 0.95 and a beta of 1.62. The firm has a 50-day moving average of $340.93 and a two-hundred day moving average of $262.56. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $459.84.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.73 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The company’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, research analysts forecast 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. Shareholders of record on Wednesday, March 25th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, March 25th. Seagate Technology’s dividend payout ratio is currently 33.48%.

Wall Street Analysts Forecast Growth

STX has been the subject of a number of recent research reports. UBS Group lifted their price objective on shares of Seagate Technology from $385.00 to $440.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Wells Fargo & Company boosted their price objective on Seagate Technology from $360.00 to $450.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 28th. Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a research report on Monday, December 29th. Bank of America raised their price objective on Seagate Technology from $320.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Finally, Robert W. Baird boosted their target price on Seagate Technology from $270.00 to $505.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Eighteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $447.35.

Insider Buying and Selling at Seagate Technology

In related news, EVP James Ci Lee sold 673 shares of the company’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $348.85, for a total value of $234,776.05. Following the completion of the sale, the executive vice president directly owned 257 shares of the company’s stock, valued at $89,654.45. This represents a 72.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ban Seng Teh sold 20,195 shares of the stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $442.29, for a total transaction of $8,932,046.55. Following the transaction, the executive vice president 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 83,955 shares of company stock worth $29,925,749. Insiders own 0.79% of the company’s stock.

Seagate Technology 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.