Westpac Banking Corp Acquires 4,202 Shares of Seagate Technology Holdings PLC $STX

Westpac Banking Corp increased its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 614.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,886 shares of the data storage provider’s stock after purchasing an additional 4,202 shares during the period. Westpac Banking Corp’s holdings in Seagate Technology were worth $1,153,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Seagate Technology by 4.8% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 430,905 shares of the data storage provider’s stock worth $101,719,000 after buying an additional 19,774 shares in the last quarter. AlphaCore Capital LLC increased its holdings in Seagate Technology by 24.6% in the 3rd quarter. AlphaCore Capital LLC now owns 2,207 shares of the data storage provider’s stock valued at $523,000 after acquiring an additional 436 shares during the last quarter. K.J. Harrison & Partners Inc purchased a new stake in Seagate Technology in the 3rd quarter worth $764,000. US Bancorp DE boosted its holdings in shares of Seagate Technology by 70.0% during the 3rd quarter. US Bancorp DE now owns 39,080 shares of the data storage provider’s stock valued at $9,225,000 after purchasing an additional 16,092 shares during the last quarter. Finally, Catalyst Financial Partners LLC bought a new position in shares of Seagate Technology during the 3rd quarter valued at about $229,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

STX has been the topic of a number of research analyst reports. Mizuho boosted their target price on Seagate Technology from $440.00 to $475.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Citigroup raised their price target on Seagate Technology from $460.00 to $480.00 and gave the company a “buy” rating in a report on Friday, February 6th. Argus upped their price objective on Seagate Technology from $300.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 17th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Seagate Technology in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Seagate Technology currently has an average rating of “Moderate Buy” and an average price target of $447.35.

Seagate Technology Stock Down 2.9%

NASDAQ STX opened at $409.67 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $459.84. The firm has a market capitalization of $89.34 billion, a price-to-earnings ratio of 46.34, a PEG ratio of 0.94 and a beta of 1.62. The company has a fifty day moving average of $357.76 and a two-hundred day moving average of $273.68.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same quarter last year, the business earned $2.03 EPS. The business’s revenue was up 21.5% on a year-over-year basis. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, analysts predict that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, March 25th. Seagate Technology’s payout ratio is 33.48%.

Insider Activity

In related news, EVP Kian Fatt Chong sold 5,846 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $416.48, for a total transaction of $2,434,742.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jay L. Geldmacher sold 925 shares of the stock in a transaction 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 owned 223 shares in the company, valued at approximately $99,908.46. The trade was a 80.57% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 89,801 shares of company stock valued at $32,360,491. 0.79% of the stock is currently owned by corporate insiders.

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.