Truist Financial Corp Purchases 7,721 Shares of Seagate Technology Holdings PLC $STX

Truist Financial Corp boosted its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 24.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,882 shares of the data storage provider’s stock after buying an additional 7,721 shares during the quarter. Truist Financial Corp’s holdings in Seagate Technology were worth $5,612,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in STX. Vanguard Group Inc. raised its stake in shares of Seagate Technology by 2.7% during the first quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider’s stock valued at $2,441,729,000 after acquiring an additional 769,009 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Seagate Technology by 12.9% during the first quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider’s stock valued at $1,607,321,000 after acquiring an additional 2,161,191 shares in the last quarter. Invesco Ltd. lifted its stake in Seagate Technology by 3.6% in the first quarter. Invesco Ltd. now owns 2,861,418 shares of the data storage provider’s stock worth $243,077,000 after acquiring an additional 99,884 shares during the period. Royal Bank of Canada boosted its holdings in Seagate Technology by 0.8% in the first quarter. Royal Bank of Canada now owns 1,628,941 shares of the data storage provider’s stock valued at $138,378,000 after acquiring an additional 12,424 shares in the last quarter. Finally, Deutsche Bank AG increased its position in Seagate Technology by 4.5% during the 1st quarter. Deutsche Bank AG now owns 1,181,460 shares of the data storage provider’s stock valued at $100,365,000 after purchasing an additional 50,699 shares during the period. Institutional investors own 92.87% of the company’s stock.

Insiders Place Their Bets

In other news, EVP John Christopher Morris sold 15,347 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $195.80, for a total value of $3,004,942.60. Following the transaction, the executive vice president owned 9,843 shares in the company, valued at approximately $1,927,259.40. This represents a 60.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jay L. Geldmacher sold 2,500 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $150.50, for a total transaction of $376,250.00. Following the sale, the director owned 352 shares in the company, valued at approximately $52,976. The trade was a 87.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 75,935 shares of company stock valued at $14,394,416. 0.79% of the stock is owned by company insiders.

Seagate Technology Stock Down 3.9%

STX stock opened at $242.83 on Tuesday. The business has a 50 day moving average of $185.62 and a 200 day moving average of $137.40. The firm has a market cap of $51.72 billion, a PE ratio of 35.87, a price-to-earnings-growth ratio of 1.13 and a beta of 1.63. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $264.83.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.14. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the prior year, the firm posted $1.05 earnings per share. The company’s quarterly revenue was up 29.5% on a year-over-year basis. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, research analysts expect 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 disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, September 30th. Seagate Technology’s dividend payout ratio (DPR) is currently 42.54%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on STX shares. Barclays raised their target price on shares of Seagate Technology from $180.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. Bank of America raised their price objective on shares of Seagate Technology from $215.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Wells Fargo & Company upped their target price on Seagate Technology from $122.00 to $160.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Robert W. Baird increased their target price on Seagate Technology from $120.00 to $188.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Finally, Sanford C. Bernstein began coverage on Seagate Technology in a research note on Tuesday, September 16th. They issued an “outperform” rating and a $250.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $193.32.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.