Allstate Corp Purchases 8,237 Shares of Seagate Technology Holdings PLC $STX

Allstate Corp boosted its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 104.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,109 shares of the data storage provider’s stock after buying an additional 8,237 shares during the period. Allstate Corp’s holdings in Seagate Technology were worth $4,436,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STX. National Pension Service boosted its holdings in Seagate Technology by 28.0% during the 3rd quarter. National Pension Service now owns 250,121 shares of the data storage provider’s stock valued at $59,044,000 after acquiring an additional 54,722 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new position in Seagate Technology during the 4th quarter valued at $23,882,000. New York State Teachers Retirement System boosted its holdings in Seagate Technology by 5.0% during the 4th quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock valued at $51,510,000 after acquiring an additional 8,991 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Seagate Technology by 1.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider’s stock valued at $142,874,000 after acquiring an additional 6,028 shares during the period. Finally, Keystone Investors PTE Ltd. boosted its holdings in Seagate Technology by 55.7% during 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. 92.87% of the stock is owned by institutional investors.

Seagate Technology Trading Up 4.1%

STX opened at $845.76 on Wednesday. The firm has a market cap of $189.64 billion, a price-to-earnings ratio of 80.24 and a beta of 1.98. 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 $113.20 and a 12 month high of $862.65. The stock has a fifty day moving average price of $583.93 and a 200-day moving average price of $420.46.

Seagate Technology (NASDAQ:STX) last announced its 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. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period in the prior year, the company posted $1.90 EPS. The firm’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. As a group, equities research analysts anticipate that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wedbush upped their target price on Seagate Technology from $700.00 to $825.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Evercore upped their target price on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Mizuho upped their target price on Seagate Technology from $565.00 to $700.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Loop Capital upped their target price on Seagate Technology from $950.00 to $1,140.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Zacks Research upgraded Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $736.21.

Insider Activity at Seagate Technology

In other news, CEO William D. Mosley sold 30,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 339,591 shares of the company’s stock, valued at approximately $255,131,322.39. This represents a 8.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $817.28, for a total value of $6,540,691.84. Following the completion of the transaction, the executive vice president directly owned 3,691 shares in the company, valued at $3,016,580.48. This 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 a total of 142,437 shares of company stock worth $86,093,575 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.

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.