PNC Financial Services Group Inc. Purchases 7,050 Shares of Seagate Technology Holdings PLC $STX

PNC Financial Services Group Inc. grew its position in Seagate Technology Holdings PLC (NASDAQ:STX) by 13.8% in the third quarter, HoldingsChannel.com reports. The fund owned 58,179 shares of the data storage provider’s stock after buying an additional 7,050 shares during the period. PNC Financial Services Group Inc.’s holdings in Seagate Technology were worth $13,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp increased its position in Seagate Technology by 5.0% during the second quarter. State Street Corp now owns 9,001,365 shares of the data storage provider’s stock worth $1,305,499,000 after buying an additional 432,455 shares during the last quarter. WCM Investment Management LLC acquired a new stake in shares of Seagate Technology in the third quarter valued at approximately $1,187,621,000. Geode Capital Management LLC boosted its stake in shares of Seagate Technology by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 4,567,181 shares of the data storage provider’s stock worth $656,066,000 after acquiring an additional 85,660 shares during the period. Soroban Capital Partners LP increased its holdings in shares of Seagate Technology by 1,468.1% during 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Seagate Technology by 1.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,386,524 shares of the data storage provider’s stock valued at $200,117,000 after acquiring an additional 20,618 shares during the period. 92.87% of the stock is owned by institutional investors.

Seagate Technology Stock Up 2.0%

NASDAQ STX opened at $424.14 on Thursday. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63. The company has a market cap of $92.49 billion, a price-to-earnings ratio of 47.98, a PEG ratio of 0.93 and a beta of 1.62. The company has a 50 day moving average of $343.44 and a 200-day moving average of $263.69. 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 data on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.83 billion for 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 company’s revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the company earned $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, equities research analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

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

Insider Activity

In other news, Director Jay L. Geldmacher sold 925 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $448.02, for a total value of $414,418.50. Following the completion of the transaction, the director directly owned 223 shares in the company, valued at approximately $99,908.46. The trade was a 80.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James Ci Lee sold 673 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $348.85, for a total transaction of $234,776.05. Following the sale, the executive vice president owned 257 shares in the company, valued at $89,654.45. This represents a 72.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 83,955 shares of company stock valued at $29,925,749. Company insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

STX has been the subject of a number of research analyst reports. Loop Capital lifted their price objective on shares of Seagate Technology from $465.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Fox Advisors upped their price target on shares of Seagate Technology from $245.00 to $270.00 in a research note on Wednesday, October 29th. Rosenblatt Securities raised their price objective on shares of Seagate Technology from $370.00 to $500.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Benchmark boosted their price objective on Seagate Technology from $255.00 to $325.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Finally, Cantor Fitzgerald increased their target price on Seagate Technology from $500.00 to $650.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Eighteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $447.35.

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.