Atika Capital Management LLC Has $20.96 Million Stock Position in Seagate Technology Holdings PLC $STX

Atika Capital Management LLC increased its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 3.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 53,500 shares of the data storage provider’s stock after purchasing an additional 1,593 shares during the period. Seagate Technology accounts for 2.6% of Atika Capital Management LLC’s investment portfolio, making the stock its 7th largest holding. Atika Capital Management LLC’s holdings in Seagate Technology were worth $20,959,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Inceptionr LLC acquired a new stake in Seagate Technology in the first quarter valued at $366,000. Aspen Grove Capital LLC bought a new position in shares of Seagate Technology in the 1st quarter valued at about $261,000. Cetera Investment Advisers increased its stake in shares of Seagate Technology by 0.5% during the 1st quarter. Cetera Investment Advisers now owns 110,173 shares of the data storage provider’s stock worth $43,161,000 after purchasing an additional 570 shares during the last quarter. Aureus Asset Management LLC acquired a new position in shares of Seagate Technology during the 1st quarter worth about $217,000. Finally, Prestige Wealth Management Group LLC raised its holdings in shares of Seagate Technology by 37,100.0% in the 1st quarter. Prestige Wealth Management Group LLC now owns 744 shares of the data storage provider’s stock valued at $292,000 after purchasing an additional 742 shares during the period. 92.87% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP John Christopher Morris sold 1,364 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $1,200,579.16. Following the completion of the sale, the executive vice president owned 12,088 shares of the company’s stock, valued at $10,639,736.72. This represents a 10.14% decrease in their ownership of the stock. 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, CEO William D. Mosley sold 9,343 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $924.42, for a total transaction of $8,636,856.06. Following the sale, the chief executive officer owned 311,517 shares in the company, valued at $287,972,545.14. The trade was a 2.91% 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. In the last 90 days, insiders sold 151,069 shares of company stock valued at $126,191,753. Company insiders own 0.79% of the company’s stock.

Seagate Technology Stock Up 0.6%

Shares of STX opened at $913.36 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. Seagate Technology Holdings PLC has a 12 month low of $138.30 and a 12 month high of $1,145.00. The firm’s 50 day moving average is $892.03 and its 200-day moving average is $608.50. The stock has a market capitalization of $204.80 billion, a PE ratio of 86.66 and a beta of 2.04.

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

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Wednesday, June 24th. Seagate Technology’s dividend payout ratio is presently 28.08%.

Analysts Set New Price Targets

A number of equities analysts recently commented on STX shares. BNP Paribas Exane lifted their price target on Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Melius Research began coverage on Seagate Technology in a research note on Monday, June 29th. They issued a “buy” rating and a $1,600.00 price objective on the stock. Fox Advisors cut Seagate Technology from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Zacks Research downgraded Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Evercore lifted their target price on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $898.52.

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.