Zweig DiMenna Associates LLC Raises Stock Position in Seagate Technology Holdings PLC $STX

Zweig DiMenna Associates LLC boosted its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 8.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 76,225 shares of the data storage provider’s stock after acquiring an additional 6,125 shares during the period. Seagate Technology makes up approximately 1.3% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 20th largest position. Zweig DiMenna Associates LLC’s holdings in Seagate Technology were worth $17,994,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. National Pension Service grew its stake in shares of Seagate Technology by 28.0% during the third quarter. National Pension Service now owns 250,121 shares of the data storage provider’s stock worth $59,044,000 after buying an additional 54,722 shares during the last quarter. Vision Financial Markets LLC bought a new position in Seagate Technology in the 2nd quarter valued at $173,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in Seagate Technology in the 3rd quarter valued at about $1,864,000. Nordea Investment Management AB raised its position in shares of Seagate Technology by 18.0% in the second quarter. Nordea Investment Management AB now owns 18,422 shares of the data storage provider’s stock valued at $2,632,000 after purchasing an additional 2,808 shares during the period. Finally, Central Asset Investments & Management Holdings HK Ltd increased its position in shares of Seagate Technology by 185.8% during the 2nd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 18,734 shares of the data storage provider’s stock valued at $2,704,000 after purchasing an additional 12,178 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Stock Performance

STX opened at $425.99 on Tuesday. The company has a market cap of $92.90 billion, a P/E ratio of 48.19, a price-to-earnings-growth ratio of 0.95 and a beta of 1.62. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63. The firm’s 50-day moving average price is $338.27 and its 200-day moving average price is $260.72. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $459.84.

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

Seagate Technology Dividend Announcement

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

Insider Transactions at Seagate Technology

In other Seagate Technology news, Director Jay L. Geldmacher sold 925 shares of the stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $448.02, for a total value of $414,418.50. Following the completion of the sale, the director owned 223 shares in the company, valued at approximately $99,908.46. This represents a 80.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $272.91, for a total value of $204,682.50. Following the transaction, the director owned 5,601 shares of the company’s stock, valued at approximately $1,528,568.91. This represents a 11.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 83,955 shares of company stock valued at $29,925,749. Insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on STX shares. Citigroup raised their target price on shares of Seagate Technology from $460.00 to $480.00 and gave the company a “buy” rating in a research note on Friday, February 6th. UBS Group boosted their target price on shares of Seagate Technology from $385.00 to $440.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Cantor Fitzgerald raised their price objective on Seagate Technology from $500.00 to $650.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Seagate Technology in a research note on Monday, December 29th. Finally, Wells Fargo & Company upped their target price on shares of Seagate Technology from $360.00 to $450.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 28th. Eighteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $444.09.

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.