Colonial River Investments LLC Acquires New Position in Seagate Technology Holdings PLC $STX

Colonial River Investments LLC acquired a new stake in Seagate Technology Holdings PLC (NASDAQ:STX) in the 4th quarter, Holdings Channel reports. The fund acquired 973 shares of the data storage provider’s stock, valued at approximately $268,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Drive Wealth Management LLC purchased a new position in shares of Seagate Technology in the 4th quarter valued at approximately $216,000. Pure Financial Advisors LLC raised its position in shares of Seagate Technology by 8.6% in the 4th quarter. Pure Financial Advisors LLC now owns 1,201 shares of the data storage provider’s stock valued at $331,000 after purchasing an additional 95 shares during the last quarter. Nwam LLC raised its position in shares of Seagate Technology by 1.9% in the 4th quarter. Nwam LLC now owns 4,494 shares of the data storage provider’s stock valued at $1,238,000 after purchasing an additional 82 shares during the last quarter. D Orazio & Associates Inc. raised its position in Seagate Technology by 6.9% during the 4th quarter. D Orazio & Associates Inc. now owns 1,747 shares of the data storage provider’s stock worth $481,000 after buying an additional 113 shares during the last quarter. Finally, EWA LLC raised its position in Seagate Technology by 2.1% during the 4th quarter. EWA LLC now owns 1,370 shares of the data storage provider’s stock worth $377,000 after buying an additional 28 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Seagate Technology

In other news, CFO Gianluca Romano sold 1,902 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $770.00, for a total transaction of $1,464,540.00. Following the sale, the chief financial officer owned 40,945 shares of the company’s stock, valued at $31,527,650. This trade represents a 4.44% decrease in their position. The sale 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 John Christopher Morris sold 5,626 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the sale, the executive vice president directly owned 11,954 shares in the company, valued at $8,826,474.98. The trade was a 32.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 102,723 shares of company stock worth $53,301,684. 0.79% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on STX shares. JPMorgan Chase & Co. raised their price target on shares of Seagate Technology from $525.00 to $775.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a research report on Friday, March 27th. Barclays raised their price target on shares of Seagate Technology from $625.00 to $750.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Argus raised their price target on shares of Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Susquehanna raised their price target on shares of Seagate Technology from $485.00 to $615.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $709.13.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $834.01 on Tuesday. The stock has a market capitalization of $187.01 billion, a price-to-earnings ratio of 79.13 and a beta of 1.98. Seagate Technology Holdings PLC has a 12 month low of $100.00 and a 12 month high of $841.31. The firm’s 50 day simple moving average is $492.12 and its 200-day simple moving average is $378.05. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The business’s revenue was up 44.1% on a year-over-year basis. During the same quarter last year, the company earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Analysts expect that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be paid a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. Seagate Technology’s dividend payout ratio (DPR) is presently 28.08%.

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.