Baader Bank Aktiengesellschaft Boosts Stake in Seagate Technology Holdings PLC $STX

Baader Bank Aktiengesellschaft lifted its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 263.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 6,140 shares of the data storage provider’s stock after acquiring an additional 4,449 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Seagate Technology were worth $2,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 15 shares during the last quarter. Salomon & Ludwin LLC boosted its holdings in Seagate Technology by 124.4% in the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 51 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Seagate Technology during the 1st quarter valued at $39,000. Armstrong Advisory Group Inc. bought a new position in shares of Seagate Technology during the 4th quarter valued at $28,000. Finally, Concord Wealth Partners bought a new position in shares of Seagate Technology during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling at Seagate Technology

In other news, CFO Gianluca Romano sold 22,488 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total transaction of $17,410,659.36. Following the transaction, the chief financial officer owned 42,847 shares of the company’s stock, valued at approximately $33,173,004.34. The trade was a 34.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the transaction, the chief executive officer owned 339,591 shares in the company, valued at $255,131,322.39. This trade represents a 8.12% decrease in their position. 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 have sold 151,069 shares of company stock worth $126,191,753 over the last three months. 0.79% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on STX. Bank of America raised their target price on Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Loop Capital upped their price target on shares of Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Wall Street Zen upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. TD Cowen raised their price objective on shares of Seagate Technology from $500.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Sanford C. Bernstein boosted their target price on shares of Seagate Technology from $620.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $898.52.

Seagate Technology Stock Performance

NASDAQ STX opened at $802.45 on Tuesday. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. Seagate Technology Holdings PLC has a 1-year low of $138.30 and a 1-year high of $1,145.00. The business has a 50 day simple moving average of $886.38 and a two-hundred day simple moving average of $595.30. The stock has a market capitalization of $179.93 billion, a PE ratio of 76.13 and a beta of 2.04.

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

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. Seagate Technology’s dividend payout ratio is presently 28.08%.

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.