Seagate Technology Holdings PLC $STX Holdings Trimmed by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC cut its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 10.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,864 shares of the data storage provider’s stock after selling 2,183 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Seagate Technology were worth $17,399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of STX. NewEdge Advisors LLC lifted its position in shares of Seagate Technology by 85.9% in the first quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock worth $8,637,000 after purchasing an additional 10,190 shares in the last quarter. UNICOM Systems Inc. boosted its holdings in Seagate Technology by 18.2% during the second quarter. UNICOM Systems Inc. now owns 43,500 shares of the data storage provider’s stock worth $41,978,000 after purchasing an additional 6,700 shares during the last quarter. USA Financial Formulas bought a new position in Seagate Technology in the first quarter valued at $1,328,000. Financial Insights Inc. bought a new position in Seagate Technology in the second quarter valued at $706,000. Finally, Silverleafe Capital Partners LLC acquired a new stake in Seagate Technology in the 3rd quarter valued at $820,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Ban Teh sold 52,730 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total value of $41,239,078.40. Following the completion of the sale, the executive vice president directly owned 5,810 shares of the company’s stock, valued at $4,543,884.80. This trade represents a 90.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Mosley sold 97,889 shares of Seagate Technology stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $772.14, for a total value of $75,584,012.46. Following the transaction, the chief executive officer owned 378,108 shares of the company’s stock, valued at $291,952,311.12. This represents a 20.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 466,959 shares of company stock worth $378,840,741. Company insiders own 0.51% of the company’s stock.

Seagate Technology Stock Performance

STX stock traded up $17.71 during trading hours on Tuesday, reaching $678.52. The stock had a trading volume of 2,468,374 shares, compared to its average volume of 4,391,267. The stock has a market capitalization of $154.29 billion, a PE ratio of 48.88 and a beta of 2.06. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. The stock has a 50-day simple moving average of $839.57 and a 200 day simple moving average of $806.45. Seagate Technology Holdings PLC has a fifty-two week low of $209.00 and a fifty-two week high of $1,145.00.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The company’s quarterly revenue was up 48.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Analysts predict that Seagate Technology Holdings PLC will post 35.70 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Investors of record on Thursday, September 24th were issued a dividend of $0.74 per share. The ex-dividend date was Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. Seagate Technology’s dividend payout ratio (DPR) is presently 21.33%.

Wall Street Analysts Forecast Growth

STX has been the topic of several analyst reports. Rosenblatt Securities boosted their price target on shares of Seagate Technology from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Sanford C. Bernstein restated an “outperform” rating and issued a $1,350.00 price objective on shares of Seagate Technology in a report on Wednesday, July 29th. Weiss Ratings raised Seagate Technology from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Melius Research started coverage on Seagate Technology in a report on Monday, June 29th. They set a “buy” rating and a $1,600.00 target price on the stock. Finally, TD Cowen increased their price target on Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $973.40.

About Seagate Technology

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.