West Family Investments Inc. Grows Holdings in Seagate Technology Holdings PLC $STX

West Family Investments Inc. grew its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 82.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,397 shares of the data storage provider’s stock after acquiring an additional 633 shares during the period. West Family Investments Inc.’s holdings in Seagate Technology were worth $1,348,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in STX. Waverly Advisors LLC lifted its stake in Seagate Technology by 18.8% during the second quarter. Waverly Advisors LLC now owns 4,788 shares of the data storage provider’s stock worth $4,620,000 after purchasing an additional 758 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Seagate Technology by 3.6% during the second quarter. Parkside Financial Bank & Trust now owns 1,872 shares of the data storage provider’s stock valued at $1,806,000 after purchasing an additional 65 shares during the last quarter. Cornerstone Financial Management LLC raised its holdings in shares of Seagate Technology by 109.7% during the second quarter. Cornerstone Financial Management LLC now owns 65 shares of the data storage provider’s stock worth $63,000 after purchasing an additional 34 shares during the period. Tucker Asset Management LLC acquired a new stake in shares of Seagate Technology during the second quarter worth $791,000. Finally, Advus Financial Partners LLC boosted its holdings in shares of Seagate Technology by 21.1% in the 2nd quarter. Advus Financial Partners LLC now owns 2,059 shares of the data storage provider’s stock valued at $1,987,000 after buying an additional 359 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. China Renaissance increased their price objective on shares of Seagate Technology from $802.00 to $983.00 in a research note on Friday, June 12th. Susquehanna upped their price objective on shares of Seagate Technology from $775.00 to $875.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Seagate Technology in a report on Wednesday, June 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $1,300.00 price objective on shares of Seagate Technology in a research report on Wednesday, July 29th. Finally, Zacks Research upgraded Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $986.00.

Insider Activity

In related news, EVP Ban Teh sold 9,862 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $852.97, for a total transaction of $8,411,990.14. Following the completion of the sale, the executive vice president directly owned 5,210 shares of the company’s stock, valued at $4,443,973.70. This trade represents a 65.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Mosley sold 30,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $816.28, for a total value of $24,488,400.00. Following the completion of the transaction, the chief executive officer directly owned 295,168 shares in the company, valued at approximately $240,939,735.04. This represents a 9.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 191,765 shares of company stock valued at $161,865,249. Company insiders own 0.79% of the company’s stock.

Seagate Technology Stock Performance

NASDAQ:STX traded up $55.10 during midday trading on Tuesday, reaching $904.38. The stock had a trading volume of 5,181,693 shares, compared to its average volume of 4,353,087. The stock has a market capitalization of $204.97 billion, a P/E ratio of 65.16 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. Seagate Technology Holdings PLC has a 1-year low of $188.00 and a 1-year high of $1,145.00. The firm’s fifty day simple moving average is $849.54 and its 200-day simple moving average is $714.80.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the previous year, the firm earned $2.59 EPS. The firm’s revenue was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, equities research analysts forecast that Seagate Technology Holdings PLC will post 35.7 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be given a dividend of $0.74 per share. The ex-dividend date is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology’s dividend payout ratio (DPR) is 21.33%.

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.