Chevy Chase Trust Holdings LLC Reduces Stock Position in Seagate Technology Holdings PLC $STX

Chevy Chase Trust Holdings LLC trimmed its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 3.0% during the third quarter, HoldingsChannel.com reports. The firm owned 108,745 shares of the data storage provider’s stock after selling 3,347 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Seagate Technology were worth $25,670,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Rakuten Securities Inc. increased its stake in shares of Seagate Technology by 884.2% in the second 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 stake in Seagate Technology in the second quarter valued at $29,000. First Horizon Corp bought a new position in Seagate Technology during the 3rd quarter valued at $33,000. Raiffeisen Bank International AG acquired a new position in Seagate Technology during the 3rd quarter worth $33,000. Finally, Physician Wealth Advisors Inc. grew its holdings in Seagate Technology by 43.7% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock worth $35,000 after acquiring an additional 45 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Price Performance

Shares of STX opened at $398.78 on Tuesday. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $459.84. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72. The stock has a fifty day moving average price of $380.42 and a 200 day moving average price of $293.80. The company has a market cap of $86.96 billion, a P/E ratio of 45.11, a PEG ratio of 0.85 and a beta of 1.61.

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

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders 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 yield of 0.7%. The ex-dividend date of this dividend is Wednesday, March 25th. Seagate Technology’s payout ratio is presently 33.48%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. BNP Paribas Exane upped their target price on shares of Seagate Technology from $430.00 to $530.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Wedbush lifted their price target on Seagate Technology from $290.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Citigroup upped their price objective on Seagate Technology from $460.00 to $480.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Morgan Stanley increased their target price on Seagate Technology from $337.00 to $372.00 and gave the stock an “overweight” rating in a report on Thursday, January 22nd. Finally, Barclays lifted their target price on Seagate Technology from $370.00 to $425.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $447.35.

Insider Activity

In other news, EVP James Ci Lee sold 673 shares of Seagate Technology stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $348.85, for a total transaction of $234,776.05. Following the sale, the executive vice president owned 257 shares of the company’s stock, valued at approximately $89,654.45. The trade was a 72.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jay L. Geldmacher sold 925 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $448.02, for a total value of $414,418.50. Following the transaction, the director owned 223 shares of the company’s stock, valued at approximately $99,908.46. This represents a 80.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 89,051 shares of company stock worth $34,430,409 over the last three months. Insiders own 0.79% of the company’s stock.

Seagate Technology 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.