Victory Capital Management Inc. Sells 92,107 Shares of Seagate Technology Holdings PLC $STX

Victory Capital Management Inc. reduced its position in Seagate Technology Holdings PLC (NASDAQ:STX) by 44.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 115,170 shares of the data storage provider’s stock after selling 92,107 shares during the quarter. Victory Capital Management Inc. owned approximately 0.05% of Seagate Technology worth $27,187,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rakuten Securities Inc. grew its holdings in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 168 shares during the period. MTM Investment Management LLC acquired a new stake in Seagate Technology during the second quarter worth approximately $29,000. First Horizon Corp bought a new stake in Seagate Technology in the third quarter worth approximately $33,000. Raiffeisen Bank International AG acquired a new position in Seagate Technology in the third quarter valued at approximately $33,000. Finally, Physician Wealth Advisors Inc. boosted its holdings in shares of Seagate Technology by 43.7% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock worth $35,000 after buying an additional 45 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Price Performance

STX stock opened at $374.33 on Tuesday. 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 business has a 50-day simple moving average of $370.05 and a two-hundred day simple moving average of $286.06. The company has a market capitalization of $81.63 billion, a P/E ratio of 42.35, a price-to-earnings-growth ratio of 0.78 and a beta of 1.61. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $459.84.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, beating 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 analyst estimates of $2.73 billion. During the same quarter last year, the company earned $2.03 earnings per share. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Research analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced 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. The ex-dividend date is Wednesday, March 25th. This represents a $2.96 annualized dividend and a dividend yield of 0.8%. Seagate Technology’s dividend payout ratio is currently 33.48%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on STX shares. Robert W. Baird boosted their target price on shares of Seagate Technology from $270.00 to $505.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 17th. Bank of America boosted their target price on Seagate Technology from $320.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Seagate Technology in a report on Monday, December 29th. Finally, The Goldman Sachs Group boosted their price objective on Seagate Technology from $310.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average price target of $447.35.

Insider Buying and Selling at Seagate Technology

In other news, EVP James Ci Lee sold 673 shares of the company’s stock in a transaction that occurred on 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 directly owned 257 shares of the company’s stock, valued at $89,654.45. This represents a 72.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 20,195 shares of Seagate Technology 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 sale, the executive vice president owned 3,092 shares in the company, valued at $1,367,560.68. This trade represents a 86.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 89,051 shares of company stock valued at $34,430,409 in the last quarter. 0.79% of the stock is owned by company insiders.

Seagate Technology Profile

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.