Evolve Private Wealth LLC Buys 2,718 Shares of Seagate Technology Holdings PLC $STX

Evolve Private Wealth LLC increased its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 238.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 3,859 shares of the data storage provider’s stock after buying an additional 2,718 shares during the quarter. Evolve Private Wealth LLC’s holdings in Seagate Technology were worth $1,512,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Seagate Technology during the 4th quarter valued at $23,882,000. New York State Teachers Retirement System increased its holdings in Seagate Technology by 5.0% in the 4th quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock worth $51,510,000 after acquiring an additional 8,991 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Seagate Technology by 1.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider’s stock worth $142,874,000 after acquiring an additional 6,028 shares during the last quarter. Praxis Investment Management Inc. raised its stake in Seagate Technology by 56.5% in the 4th quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider’s stock valued at $1,822,000 after acquiring an additional 2,389 shares during the period. Finally, Keystone Investors PTE Ltd. raised its stake in Seagate Technology by 55.7% in the 3rd quarter. Keystone Investors PTE Ltd. now owns 50,321 shares of the data storage provider’s stock valued at $11,879,000 after acquiring an additional 18,000 shares during the period. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

Shares of STX opened at $1,094.04 on Tuesday. Seagate Technology Holdings PLC has a 12-month low of $130.92 and a 12-month high of $1,145.00. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The company has a market cap of $245.32 billion, a PE ratio of 103.80 and a beta of 2.04. The stock has a 50-day moving average price of $781.00 and a 200-day moving average price of $510.69.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.59. The company had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. Seagate Technology’s revenue for the quarter was up 44.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities analysts forecast that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology’s payout ratio is currently 28.08%.

Insider Activity at Seagate Technology

In other news, EVP John Christopher Morris sold 5,626 shares of Seagate Technology stock in a transaction on Monday, May 4th. The shares were sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the completion of the sale, the executive vice president directly owned 11,954 shares of the company’s stock, valued at approximately $8,826,474.98. The trade was a 32.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the completion of the transaction, the executive vice president owned 3,691 shares of the company’s stock, valued at $3,016,580.48. This trade represents a 68.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 141,069 shares of company stock worth $107,161,712 over the last quarter. 0.79% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on STX shares. Bank of America increased their target price on shares of Seagate Technology from $900.00 to $1,000.00 in a research report on Monday, June 8th. Wedbush boosted their price target on shares of Seagate Technology from $700.00 to $825.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Mizuho upped their price target on shares of Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. JPMorgan Chase & Co. raised their price objective on shares of Seagate Technology from $775.00 to $920.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Finally, Zacks Research upgraded shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $831.79.

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.