Caprock Group LLC Makes New Investment in Seagate Technology Holdings PLC $STX

Caprock Group LLC purchased a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,568 shares of the data storage provider’s stock, valued at approximately $3,439,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. WCM Investment Management LLC acquired a new stake in shares of Seagate Technology during the 3rd quarter valued at approximately $1,187,621,000. Norges Bank purchased a new position in Seagate Technology in the 2nd quarter valued at approximately $197,027,000. Boston Partners purchased a new position in Seagate Technology in the 2nd quarter valued at approximately $193,500,000. Soroban Capital Partners LP raised its holdings in Seagate Technology by 1,468.1% during the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after purchasing an additional 1,327,197 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. boosted its position in Seagate Technology by 85.3% during the second quarter. Maple Rock Capital Partners Inc. now owns 1,131,752 shares of the data storage provider’s stock worth $163,346,000 after purchasing an additional 520,846 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $407.25 on Thursday. The business’s fifty day moving average price is $329.20 and its 200 day moving average price is $254.17. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $459.41. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63. The stock has a market capitalization of $88.81 billion, a P/E ratio of 46.07, a PEG ratio of 0.89 and a beta of 1.62.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.73 billion. During the same period last year, the business posted $2.03 EPS. The company’s quarterly 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. As a group, research analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

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

Insider Buying and Selling

In related news, EVP Ban Seng Teh sold 20,195 shares of the 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 completion of the sale, the executive vice president directly owned 3,092 shares in the company, valued at approximately $1,367,560.68. This represents a 86.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $429.27, for a total value of $8,585,400.00. Following the completion of the transaction, the chief executive officer directly owned 410,056 shares in the company, valued at $176,024,739.12. This trade represents a 4.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 83,955 shares of company stock valued at $29,925,749. 0.79% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on STX. Bank of America raised their target price on shares of Seagate Technology from $320.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Zacks Research cut shares of Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Morgan Stanley upped their target price on Seagate Technology from $337.00 to $372.00 and gave the company an “overweight” rating in a research note on Thursday, January 22nd. The Goldman Sachs Group boosted their price target on Seagate Technology from $310.00 to $385.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Finally, Mizuho increased their price objective on Seagate Technology from $370.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday, January 27th. Eighteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $444.09.

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.