Neo Ivy Capital Management Invests $602,000 in Seagate Technology Holdings PLC $STX

Neo Ivy Capital Management bought a new stake in Seagate Technology Holdings PLC (NASDAQ:STX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,552 shares of the data storage provider’s stock, valued at approximately $602,000.

A number of other large investors also recently made changes to their positions in the company. West Family Investments Inc. raised its stake in Seagate Technology by 2.7% in the third quarter. West Family Investments Inc. now owns 1,428 shares of the data storage provider’s stock valued at $337,000 after purchasing an additional 37 shares in the last quarter. United Community Bank grew its stake in Seagate Technology by 35.2% during the third quarter. United Community Bank now owns 169 shares of the data storage provider’s stock worth $40,000 after buying an additional 44 shares in the last quarter. Physician Wealth Advisors Inc. grew its stake in Seagate Technology by 43.7% during the third quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock worth $35,000 after buying an additional 45 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in Seagate Technology by 2.6% in the 3rd quarter. Sivia Capital Partners LLC now owns 1,865 shares of the data storage provider’s stock valued at $440,000 after buying an additional 47 shares during the period. Finally, Magnus Financial Group LLC raised its position in shares of Seagate Technology by 2.9% in the 3rd quarter. Magnus Financial Group LLC now owns 1,755 shares of the data storage provider’s stock valued at $414,000 after buying an additional 49 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Insider Activity at Seagate Technology

In related news, EVP Kian Fatt Chong sold 5,846 shares of the firm’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 filing with the SEC, which is accessible through the SEC website. Also, EVP Ban Seng Teh sold 20,195 shares of the business’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $442.29, for a total value of $8,932,046.55. Following the sale, the executive vice president owned 3,092 shares in the company, valued at $1,367,560.68. This represents a 86.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 89,051 shares of company stock worth $34,430,409 over the last 90 days. 0.79% of the stock is currently owned by company insiders.

Seagate Technology Trading Down 4.0%

Shares of Seagate Technology stock opened at $352.80 on Friday. The firm’s 50 day moving average is $368.19 and its 200 day moving average is $283.63. The firm has a market capitalization of $76.94 billion, a PE ratio of 39.91, a price-to-earnings-growth ratio of 0.79 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 current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, beating 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 business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter in the prior year, the firm earned $2.03 EPS. The firm’s 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. Equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, March 25th. Seagate Technology’s dividend payout ratio is presently 33.48%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on STX. KeyCorp set a $500.00 price target on shares of Seagate Technology in a report on Wednesday, January 28th. Morgan Stanley boosted their price objective on shares of Seagate Technology from $337.00 to $372.00 and gave the company an “overweight” rating in a research report on Thursday, January 22nd. Robert W. Baird upped their target price on Seagate Technology from $270.00 to $505.00 and gave the stock an “outperform” rating in a research note on Thursday, January 29th. Wedbush raised their target price on Seagate Technology from $290.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Finally, Bank of America lifted their price target on Seagate Technology from $320.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $447.35.

Seagate Technology 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.