PNC Financial Services Group Inc. Has $13.73 Million Stock Holdings in Seagate Technology Holdings PLC $STX

PNC Financial Services Group Inc. raised its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 13.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 58,179 shares of the data storage provider’s stock after acquiring an additional 7,050 shares during the period. PNC Financial Services Group Inc.’s holdings in Seagate Technology were worth $13,734,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp lifted its stake in Seagate Technology by 5.0% in the second quarter. State Street Corp now owns 9,001,365 shares of the data storage provider’s stock valued at $1,305,499,000 after buying an additional 432,455 shares during the period. WCM Investment Management LLC acquired a new stake in shares of Seagate Technology in the 3rd quarter valued at approximately $1,187,621,000. Geode Capital Management LLC raised its position in shares of Seagate Technology by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 4,567,181 shares of the data storage provider’s stock valued at $656,066,000 after acquiring an additional 85,660 shares during the period. Soroban Capital Partners LP boosted its stake in Seagate Technology by 1,468.1% during the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after acquiring an additional 1,327,197 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Seagate Technology by 1.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,386,524 shares of the data storage provider’s stock valued at $200,117,000 after purchasing an additional 20,618 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Insider Activity at Seagate Technology

In other news, EVP James Ci Lee sold 673 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $348.85, for a total value of $234,776.05. Following the completion of the transaction, the executive vice president owned 257 shares in the company, valued at $89,654.45. This trade represents a 72.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total value of $204,682.50. Following the completion of the sale, the director directly owned 5,601 shares in the company, valued at approximately $1,528,568.91. This represents a 11.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 83,955 shares of company stock worth $29,925,749. Corporate insiders own 0.79% of the company’s stock.

Seagate Technology Stock Up 2.0%

NASDAQ:STX opened at $424.14 on Thursday. The stock has a 50-day simple moving average of $343.44 and a 200 day simple moving average of $263.69. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $459.84. The company has a market cap of $92.49 billion, a PE ratio of 47.98, a PEG ratio of 0.93 and a beta of 1.62. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share 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 firm 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 posted $2.03 EPS. The business’s revenue was up 21.5% on a year-over-year basis. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, sell-side analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on STX. Cantor Fitzgerald lifted their price target on shares of Seagate Technology from $500.00 to $650.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. Wells Fargo & Company lifted their target price on Seagate Technology from $360.00 to $450.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 28th. Susquehanna raised Seagate Technology from a “negative” rating to a “neutral” rating and boosted their target price for the company from $150.00 to $280.00 in a research note on Friday, January 16th. Fox Advisors raised their price target on Seagate Technology from $245.00 to $270.00 in a research report on Wednesday, October 29th. Finally, TD Cowen boosted their price objective on Seagate Technology from $340.00 to $500.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Eighteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $447.35.

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.