CI Investments Inc. Has $7.74 Million Position in Seagate Technology Holdings PLC $STX

CI Investments Inc. boosted its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 1,665.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,757 shares of the data storage provider’s stock after acquiring an additional 18,638 shares during the period. CI Investments Inc.’s holdings in Seagate Technology were worth $7,740,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC lifted its stake 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 worth $31,000 after buying an additional 15 shares during the last quarter. Beaumont Financial Advisors LLC grew its stake in Seagate Technology by 2.1% in the 1st quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider’s stock valued at $321,000 after buying an additional 17 shares during the last quarter. Cornerstone Wealth Group LLC grew its stake in Seagate Technology by 0.5% in the 1st quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider’s stock valued at $1,388,000 after buying an additional 19 shares during the last quarter. Gateway Investment Advisers LLC raised its holdings in Seagate Technology by 1.8% in the 4th quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider’s stock valued at $385,000 after acquiring an additional 25 shares during the period. Finally, Trajan Wealth LLC lifted its position in Seagate Technology by 1.9% during the fourth quarter. Trajan Wealth LLC now owns 1,325 shares of the data storage provider’s stock worth $365,000 after acquiring an additional 25 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Seagate Technology Trading Up 0.6%

Shares of STX opened at $913.36 on Friday. Seagate Technology Holdings PLC has a 52-week low of $138.30 and a 52-week high of $1,145.00. The business’s fifty day moving average is $892.03 and its 200-day moving average is $608.50. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. The firm has a market cap of $204.80 billion, a price-to-earnings ratio of 86.66 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last announced 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 business had revenue of $3.11 billion during 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%.Seagate Technology’s revenue for the quarter was up 44.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Equities analysts anticipate that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders 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 dividend yield of 0.3%. Seagate Technology’s dividend payout ratio is 28.08%.

Insider Activity at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 9,343 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $924.42, for a total value 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. This trade represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 989 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $870,507.91. Following the sale, the executive vice president owned 4,290 shares in the company, valued at $3,776,015.10. This represents a 18.73% decrease in their position. 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 quarter, insiders have sold 151,069 shares of company stock valued at $126,191,753. 0.79% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Susquehanna boosted their price objective on Seagate Technology from $615.00 to $775.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Loop Capital upped their price objective on Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a report on Friday, May 15th. Cantor Fitzgerald increased their price objective on Seagate Technology from $1,000.00 to $1,300.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Evercore raised their price target on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Finally, Wall Street Zen raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $898.52.

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.