Connable Office Inc. Acquires Shares of 4,662 Seagate Technology Holdings PLC $STX

Connable Office Inc. acquired a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,662 shares of the data storage provider’s stock, valued at approximately $1,101,000.

Other institutional investors have also modified their holdings of the company. Harbor Asset Planning Inc. acquired a new position in Seagate Technology in the second quarter worth about $27,000. Rakuten Securities Inc. lifted its holdings in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after buying an additional 168 shares during the last quarter. MTM Investment Management LLC acquired a new position in shares of Seagate Technology in the 2nd quarter worth approximately $29,000. First Horizon Corp acquired a new position in shares of Seagate Technology in the 3rd quarter worth approximately $33,000. Finally, Physician Wealth Advisors Inc. increased its holdings in shares of Seagate Technology by 43.7% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock valued at $35,000 after acquiring an additional 45 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $429.27, for a total value of $8,585,400.00. Following the completion of the sale, the chief executive officer directly owned 410,056 shares of the company’s stock, valued at approximately $176,024,739.12. This represents a 4.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ban Seng Teh sold 20,195 shares of the stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $442.29, for a total transaction of $8,932,046.55. Following the completion of the transaction, the executive vice president owned 3,092 shares of the company’s stock, valued at $1,367,560.68. This trade represents a 86.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 83,955 shares of company stock valued at $29,925,749. Corporate insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

STX has been the subject of a number of research reports. Evercore lifted their price objective on shares of Seagate Technology from $330.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Sanford C. Bernstein raised their price target on shares of Seagate Technology from $275.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Rosenblatt Securities boosted their price objective on shares of Seagate Technology from $370.00 to $500.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a report on Monday, December 29th. Finally, Zacks Research lowered Seagate Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. Eighteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $444.09.

Seagate Technology Price Performance

NASDAQ STX opened at $407.25 on Thursday. The company has a 50-day moving average price of $329.20 and a two-hundred day moving average price of $254.17. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $459.41. The stock has a market cap of $88.81 billion, a price-to-earnings ratio of 46.07, a price-to-earnings-growth ratio of 0.89 and a beta of 1.62. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.34. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same period in the previous year, the firm posted $2.03 earnings per share. The business’s revenue was up 21.5% on a year-over-year basis. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, March 25th. Seagate Technology’s payout ratio is currently 33.48%.

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.