Seagate Technology Holdings PLC $STX Stock Holdings Lessened by Bank OZK

Bank OZK reduced its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 34.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,886 shares of the data storage provider’s stock after selling 971 shares during the quarter. Bank OZK’s holdings in Seagate Technology were worth $1,820,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in STX. Integrated Wealth Concepts LLC boosted its stake in shares of Seagate Technology by 168.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock valued at $610,000 after buying an additional 4,499 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Seagate Technology in the second quarter worth $262,000. Cerity Partners LLC raised its holdings in shares of Seagate Technology by 25.8% during the second quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock worth $5,294,000 after acquiring an additional 7,517 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Seagate Technology by 64.8% during the second quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock worth $1,233,000 after acquiring an additional 3,358 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Seagate Technology by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider’s stock valued at $18,458,000 after purchasing an additional 462 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 30,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $816.28, for a total transaction of $24,488,400.00. Following the completion of the transaction, the chief executive officer directly owned 295,168 shares in the company, valued at $240,939,735.04. This represents a 9.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Teh sold 9,862 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $852.97, for a total transaction of $8,411,990.14. Following the completion of the sale, the executive vice president directly owned 5,210 shares of the company’s stock, valued at approximately $4,443,973.70. This trade represents a 65.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 191,765 shares of company stock worth $161,865,249. 0.79% of the stock is owned by insiders.

Seagate Technology Stock Performance

Seagate Technology stock traded up $55.10 on Tuesday, reaching $904.38. 5,181,693 shares of the stock were exchanged, compared to its average volume of 4,353,087. Seagate Technology Holdings PLC has a twelve month low of $188.00 and a twelve month high of $1,145.00. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. The stock has a market cap of $204.97 billion, a PE ratio of 65.16 and a beta of 2.06. The firm has a fifty day moving average price of $849.54 and a two-hundred day moving average price of $714.80.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The firm had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the firm posted $2.59 EPS. The company’s revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Sell-side analysts anticipate that Seagate Technology Holdings PLC will post 35.7 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. Seagate Technology’s payout ratio is 21.33%.

Analysts Set New Price Targets

STX has been the topic of several research reports. Argus upped their target price on Seagate Technology from $750.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Bank of America boosted their price target on Seagate Technology from $1,000.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Zacks Research upgraded Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Evercore raised their price objective on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Finally, Melius Research began coverage on shares of Seagate Technology in a research note on Monday, June 29th. They issued a “buy” rating and a $1,600.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $986.00.

About Seagate Technology

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.