Arrowstreet Capital Limited Partnership Has $561.59 Million Stock Position in Seagate Technology Holdings PLC $STX

Arrowstreet Capital Limited Partnership lowered its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 55.1% during the first quarter, HoldingsChannel reports. The firm owned 1,433,495 shares of the data storage provider’s stock after selling 1,759,568 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Seagate Technology were worth $561,586,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in STX. PFA Pension Forsikringsaktieselskab bought a new stake in shares of Seagate Technology during the 4th quarter valued at $23,882,000. New York State Teachers Retirement System raised 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 purchasing an additional 8,991 shares during the period. Sumitomo Mitsui Trust Group Inc. raised 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 purchasing an additional 6,028 shares during the period. Praxis Investment Management Inc. lifted its position in Seagate Technology by 56.5% during the fourth quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider’s stock valued at $1,822,000 after purchasing an additional 2,389 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its position in Seagate Technology by 64.5% during the fourth quarter. Ritholtz Wealth Management now owns 21,321 shares of the data storage provider’s stock valued at $5,872,000 after purchasing an additional 8,358 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

STX has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Seagate Technology from $775.00 to $920.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Wall Street Zen raised Seagate Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Morgan Stanley boosted their price objective on Seagate Technology from $767.00 to $1,035.00 and gave the company an “overweight” rating in a research note on Monday, June 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a report on Wednesday, June 24th. Finally, Citigroup raised their target price on shares of Seagate Technology from $1,150.00 to $1,240.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $898.52.

Insiders Place Their Bets

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

Seagate Technology Price Performance

NASDAQ:STX opened at $913.36 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The business’s 50-day simple moving average is $892.03 and its two-hundred day simple moving average is $608.50. The stock has a market cap of $204.80 billion, a PE ratio of 86.66 and a beta of 2.04. Seagate Technology Holdings PLC has a 52 week low of $138.30 and a 52 week high of $1,145.00.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating the consensus estimate of $3.51 by $0.59. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The business’s revenue was up 44.1% on a year-over-year basis. During the same period in the previous 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, analysts forecast that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were issued a $0.74 dividend. 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 0.3%. Seagate Technology’s payout ratio is currently 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.