Equitable Trust Co. Takes $3.03 Million Position in Seagate Technology Holdings PLC $STX

Equitable Trust Co. acquired a new position in Seagate Technology Holdings PLC (NASDAQ:STX) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 12,844 shares of the data storage provider’s stock, valued at approximately $3,032,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in STX. WCM Investment Management LLC bought a new stake in shares of Seagate Technology in the 3rd quarter valued at about $1,187,621,000. Norges Bank bought a new position in Seagate Technology in the second quarter worth approximately $197,027,000. Boston Partners purchased a new stake in Seagate Technology during the second quarter worth $193,500,000. Soroban Capital Partners LP boosted its position 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 valued at $204,602,000 after acquiring an additional 1,327,197 shares in the last quarter. Finally, Trivest Advisors Ltd purchased a new position in shares of Seagate Technology in the 3rd quarter valued at $170,435,000. 92.87% of the stock is currently owned by institutional investors.

Insider Transactions at Seagate Technology

In other Seagate Technology news, Director Jay L. Geldmacher sold 925 shares of the stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $448.02, for a total transaction of $414,418.50. Following the sale, the director directly owned 223 shares of the company’s stock, valued at approximately $99,908.46. This trade represents a 80.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kian Fatt Chong sold 5,846 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $416.48, for a total value of $2,434,742.08. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 89,801 shares of company stock valued at $32,360,491. 0.79% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Sanford C. Bernstein upped their price objective on Seagate Technology from $275.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Bank of America increased their price target on shares of Seagate Technology from $320.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Citigroup lifted their price objective on shares of Seagate Technology from $460.00 to $480.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Argus boosted their price objective on shares of Seagate Technology from $300.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Finally, Robert W. Baird raised their target price on shares of Seagate Technology from $270.00 to $505.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and an average target price of $447.35.

Seagate Technology Stock Down 0.9%

Seagate Technology stock opened at $407.40 on Tuesday. The business’s 50-day simple moving average is $350.36 and its two-hundred day simple moving average is $269.95. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12. The company has a market cap of $88.84 billion, a PE ratio of 46.09, a PEG ratio of 0.92 and a beta of 1.62. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $459.84.

Seagate Technology (NASDAQ:STX) last released its earnings results 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 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 previous year, the company posted $2.03 earnings per share. The company’s 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. Equities analysts anticipate that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Dividend Announcement

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

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.