Exchange Traded Concepts LLC Cuts Stock Holdings in Seagate Technology Holdings PLC $STX

Exchange Traded Concepts LLC reduced its position in Seagate Technology Holdings PLC (NASDAQ:STX) by 38.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,136 shares of the data storage provider’s stock after selling 1,312 shares during the period. Exchange Traded Concepts LLC’s holdings in Seagate Technology were worth $588,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in STX. Sovereign Financial Group Inc. boosted its stake in Seagate Technology by 3.2% during the 4th quarter. Sovereign Financial Group Inc. now owns 1,063 shares of the data storage provider’s stock valued at $293,000 after purchasing an additional 33 shares during the last quarter. Pallas Capital Advisors LLC raised its stake in shares of Seagate Technology by 0.6% in the fourth quarter. Pallas Capital Advisors LLC now owns 5,446 shares of the data storage provider’s stock worth $1,500,000 after purchasing an additional 33 shares during the last quarter. West Family Investments Inc. raised its stake in shares of Seagate Technology by 2.7% in the third quarter. West Family Investments Inc. now owns 1,428 shares of the data storage provider’s stock worth $337,000 after purchasing an additional 37 shares during the last quarter. Capital Investment Advisors LLC lifted its holdings in shares of Seagate Technology by 1.9% during the fourth quarter. Capital Investment Advisors LLC now owns 1,950 shares of the data storage provider’s stock valued at $537,000 after purchasing an additional 37 shares in the last quarter. Finally, United Community Bank boosted its position in shares of Seagate Technology by 35.2% during the third quarter. United Community Bank now owns 169 shares of the data storage provider’s stock valued at $40,000 after buying an additional 44 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on STX shares. Barclays lifted their price objective on Seagate Technology from $370.00 to $425.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 28th. Zacks Research downgraded shares of Seagate Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Citigroup lifted their price target on shares of Seagate Technology from $460.00 to $480.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Benchmark boosted their price objective on shares of Seagate Technology from $255.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Finally, Evercore increased their price objective on shares of Seagate Technology from $330.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Nineteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $461.00.

Seagate Technology Price Performance

STX stock opened at $429.36 on Friday. The company has a market cap of $93.63 billion, a price-to-earnings ratio of 48.57, a P/E/G ratio of 0.95 and a beta of 1.61. 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’s 50-day moving average is $404.33 and its two-hundred day moving average is $314.60. 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 quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) 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 business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same period in the previous year, the company posted $2.03 EPS. The business’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, analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be given 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 33.48%.

Insider Buying and Selling at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $420.73, for a total transaction of $8,414,600.00. Following the completion of the sale, the chief executive officer owned 355,591 shares of the company’s stock, valued at $149,607,801.43. The trade was a 5.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 20,195 shares of the company’s 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 owned 3,092 shares of the company’s stock, valued at $1,367,560.68. This trade represents a 86.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 113,635 shares of company stock valued at $47,133,843 in the last quarter. Insiders own 0.79% of the company’s stock.

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.