Sherman Porfolios LLC Makes New $1.12 Million Investment in Seagate Technology Holdings PLC $STX

Sherman Porfolios LLC bought a new position in Seagate Technology Holdings PLC (NASDAQ:STX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,756 shares of the data storage provider’s stock, valued at approximately $1,123,000. Seagate Technology accounts for 0.4% of Sherman Porfolios LLC’s holdings, making the stock its 23rd largest holding.

Several other hedge funds have also modified their holdings of STX. Rakuten Securities Inc. lifted its position 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 acquiring an additional 168 shares in the last quarter. First Horizon Corp acquired a new stake in Seagate Technology in the third quarter valued at approximately $33,000. Raiffeisen Bank International AG acquired a new stake in Seagate Technology in the third quarter valued at approximately $33,000. Physician Wealth Advisors Inc. raised its stake in shares of Seagate Technology by 43.7% during the third quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock valued at $35,000 after purchasing an additional 45 shares during the period. Finally, Palisade Asset Management LLC purchased a new stake in shares of Seagate Technology during the third quarter valued at approximately $37,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Price Performance

Shares of STX stock opened at $406.77 on Thursday. The firm has a fifty day moving average of $384.20 and a two-hundred day moving average of $296.36. The firm has a market cap of $88.70 billion, a P/E ratio of 46.01, a P/E/G ratio of 0.94 and a beta of 1.61. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year 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.

Seagate Technology (NASDAQ:STX) last issued 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. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same quarter in the prior year, the business posted $2.03 EPS. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, research analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal 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 issued 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 dividend payout ratio (DPR) is currently 33.48%.

Insider Buying and Selling

In other news, 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 completion of the sale, the director directly owned 223 shares in the company, valued at approximately $99,908.46. The trade was a 80.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James Ci Lee sold 673 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $348.85, for a total value of $234,776.05. Following the sale, the executive vice president directly owned 257 shares in the company, valued at approximately $89,654.45. This represents a 72.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 89,051 shares of company stock worth $34,430,409. 0.79% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

STX has been the subject of several analyst reports. Susquehanna upgraded shares of Seagate Technology from a “negative” rating to a “neutral” rating and upped their target price for the company from $150.00 to $280.00 in a research note on Friday, January 16th. Loop Capital lifted their price target on shares of Seagate Technology from $465.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. China Renaissance upped their price objective on shares of Seagate Technology from $325.00 to $452.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Zacks Research upgraded Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 17th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Seagate Technology in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $447.35.

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.