Seagate Technology Holdings PLC $STX Stock Position Decreased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership decreased its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 55.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,433,495 shares of the data storage provider’s stock after selling 1,759,568 shares during the period. Arrowstreet Capital Limited Partnership owned 0.64% of Seagate Technology worth $561,586,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Atika Capital Management LLC increased its holdings in shares of Seagate Technology by 3.1% in the 1st quarter. Atika Capital Management LLC now owns 53,500 shares of the data storage provider’s stock worth $20,959,000 after acquiring an additional 1,593 shares during the period. Inceptionr LLC bought a new stake in Seagate Technology in the 1st quarter valued at about $366,000. Aspen Grove Capital LLC acquired a new position in Seagate Technology during the 1st quarter valued at about $261,000. Cetera Investment Advisers grew its position in Seagate Technology by 0.5% in the 1st quarter. Cetera Investment Advisers now owns 110,173 shares of the data storage provider’s stock worth $43,161,000 after purchasing an additional 570 shares during the last quarter. Finally, Aureus Asset Management LLC bought a new position in Seagate Technology in the 1st quarter worth about $217,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Trading Up 0.6%

Seagate Technology stock opened at $913.36 on Friday. Seagate Technology Holdings PLC has a 12-month low of $138.30 and a 12-month high of $1,145.00. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The stock has a market capitalization of $204.80 billion, a PE ratio of 86.66 and a beta of 2.04. The firm has a 50 day simple moving average of $892.03 and a 200-day simple moving average of $608.50.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping the consensus estimate of $3.51 by $0.59. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities research analysts expect that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, June 24th. Seagate Technology’s payout ratio is presently 28.08%.

Analyst Ratings Changes

A number of research firms have recently weighed in on STX. UBS Group lifted their price target on Seagate Technology from $515.00 to $545.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Argus increased their price objective on Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. The Goldman Sachs Group raised their target price on Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Fox Advisors downgraded Seagate Technology from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Finally, Barclays boosted their price target on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $898.52.

Insider Buying and Selling at Seagate Technology

In other news, EVP John Christopher Morris sold 1,364 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $1,200,579.16. Following the completion of the transaction, the executive vice president owned 12,088 shares in the company, valued at approximately $10,639,736.72. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 903 shares of Seagate Technology stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $794,811.57. Following the completion of the transaction, the chief financial officer directly owned 42,860 shares in the company, valued at $37,724,943.40. This represents a 2.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 151,069 shares of company stock valued at $126,191,753 in the last ninety days. 0.79% of the stock is owned by 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.