Fifth Third Bancorp Sells 9,682 Shares of Seagate Technology Holdings PLC $STX

Fifth Third Bancorp trimmed its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 24.0% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 30,580 shares of the data storage provider’s stock after selling 9,682 shares during the quarter. Fifth Third Bancorp’s holdings in Seagate Technology were worth $7,219,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. United Community Bank grew its stake in shares of Seagate Technology by 35.2% in the third quarter. United Community Bank now owns 169 shares of the data storage provider’s stock worth $40,000 after acquiring an additional 44 shares during the period. Physician Wealth Advisors Inc. grew its position in Seagate Technology by 43.7% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock worth $35,000 after purchasing an additional 45 shares during the period. Sivia Capital Partners LLC grew its position in Seagate Technology by 2.6% in the 3rd quarter. Sivia Capital Partners LLC now owns 1,865 shares of the data storage provider’s stock worth $440,000 after purchasing an additional 47 shares during the period. Magnus Financial Group LLC raised its stake in Seagate Technology by 2.9% during the 3rd quarter. Magnus Financial Group LLC now owns 1,755 shares of the data storage provider’s stock valued at $414,000 after buying an additional 49 shares during the last quarter. Finally, Lee Johnson Capital Management LLC lifted its holdings in shares of Seagate Technology by 0.9% during the 3rd quarter. Lee Johnson Capital Management LLC now owns 5,546 shares of the data storage provider’s stock valued at $1,309,000 after buying an additional 50 shares during the period. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Trading Down 2.4%

Seagate Technology stock opened at $415.94 on Wednesday. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $459.84. The firm has a market capitalization of $90.71 billion, a price-to-earnings ratio of 47.05, a P/E/G ratio of 0.95 and a beta of 1.62. The firm has a 50 day moving average of $340.93 and a 200 day moving average of $262.56. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.73 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, research analysts predict that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current 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 issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $2.96 dividend on an annualized basis and a yield of 0.7%. Seagate Technology’s dividend payout ratio (DPR) is currently 33.48%.

Wall Street Analyst Weigh In

Several brokerages recently commented on STX. Susquehanna raised Seagate Technology from a “negative” rating to a “neutral” rating and lifted their price objective for the stock from $150.00 to $280.00 in a report on Friday, January 16th. Robert W. Baird boosted their price target on Seagate Technology from $270.00 to $505.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Bank of America increased their price objective on shares of Seagate Technology from $320.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Cantor Fitzgerald boosted their target price on shares of Seagate Technology from $500.00 to $650.00 and gave the company an “overweight” rating in a research report on Wednesday, February 4th. Finally, Wedbush upped their target price on shares of Seagate Technology from $290.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Eighteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average target price of $447.35.

Insiders Place Their Bets

In related news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $272.91, for a total transaction of $204,682.50. Following the completion of the sale, the director owned 5,601 shares in the company, valued at approximately $1,528,568.91. This trade represents a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jay L. Geldmacher sold 925 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $448.02, for a total value of $414,418.50. Following the completion of the transaction, the director directly owned 223 shares in the company, valued at approximately $99,908.46. This represents a 80.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 83,955 shares of company stock valued at $29,925,749. Insiders own 0.79% of the company’s stock.

Seagate Technology Company 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.