ProShare Advisors LLC Trims Stake in Seagate Technology Holdings PLC $STX

ProShare Advisors LLC cut its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 20.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,423 shares of the data storage provider’s stock after selling 11,345 shares during the quarter. ProShare Advisors LLC’s holdings in Seagate Technology were worth $10,723,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STX. Harbor Asset Planning Inc. acquired a new position in Seagate Technology in the second quarter valued at about $27,000. Rakuten Securities Inc. raised its stake in shares of Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 168 shares during the period. MTM Investment Management LLC purchased a new stake in shares of Seagate Technology in the 2nd quarter valued at approximately $29,000. First Horizon Corp acquired a new position in shares of Seagate Technology in the 3rd quarter worth approximately $33,000. Finally, Physician Wealth Advisors Inc. boosted its position in shares of 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 purchasing an additional 45 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Trading Up 2.8%

STX opened at $407.25 on Thursday. The business has a fifty day moving average price of $329.20 and a 200 day moving average price of $254.17. 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 Holdings PLC has a 12 month low of $63.19 and a 12 month high of $459.41. The stock has a market capitalization of $88.81 billion, a price-to-earnings ratio of 46.07, a PEG ratio of 0.89 and a beta of 1.62.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.34. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter last year, the business posted $2.03 EPS. The business’s quarterly revenue 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. Sell-side analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 0.7%. The ex-dividend date is Wednesday, March 25th. Seagate Technology’s payout ratio is 33.48%.

Insider Buying and Selling

In other news, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total value of $204,682.50. Following the sale, the director directly owned 5,601 shares in the company, valued at approximately $1,528,568.91. This trade represents a 11.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $429.27, for a total transaction of $8,585,400.00. Following the sale, the chief executive officer directly owned 410,056 shares of the company’s stock, valued at approximately $176,024,739.12. This trade represents a 4.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 83,955 shares of company stock worth $29,925,749. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

STX has been the topic of a number of research analyst reports. Susquehanna raised Seagate Technology from a “negative” rating to a “neutral” rating and boosted their target price for the company from $150.00 to $280.00 in a research report on Friday, January 16th. Robert W. Baird boosted their price objective on Seagate Technology from $270.00 to $505.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Evercore increased their target price on Seagate Technology from $330.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Wedbush lifted their target price on Seagate Technology from $290.00 to $380.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Finally, Loop Capital boosted 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. Eighteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and an average target price of $444.09.

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.