Advisors Capital Management LLC Lowers Holdings in Seagate Technology Holdings PLC $STX

Advisors Capital Management LLC lowered its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 8.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 285,365 shares of the data storage provider’s stock after selling 27,007 shares during the period. Advisors Capital Management LLC’s holdings in Seagate Technology were worth $24,242,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in STX. Ameriflex Group Inc. bought a new stake in shares of Seagate Technology in the fourth quarter valued at about $26,000. Elequin Capital LP bought a new stake in shares of Seagate Technology in the fourth quarter valued at about $27,000. Fourth Dimension Wealth LLC bought a new stake in shares of Seagate Technology in the fourth quarter valued at about $27,000. Wayfinding Financial LLC bought a new stake in shares of Seagate Technology in the first quarter valued at about $31,000. Finally, Golden State Wealth Management LLC raised its holdings in shares of Seagate Technology by 2,200.0% in the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider’s stock valued at $39,000 after acquiring an additional 440 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Price Performance

Shares of STX stock opened at $193.04 on Thursday. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $193.80. The stock’s fifty day moving average price is $157.87 and its 200 day moving average price is $120.23. The company has a market cap of $41.06 billion, a price-to-earnings ratio of 28.51, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.14. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the business earned $1.05 EPS. The firm’s revenue for the quarter was up 29.5% on a year-over-year basis. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, equities research analysts anticipate 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 Thursday, October 9th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.5%. The ex-dividend date is Tuesday, September 30th. Seagate Technology’s payout ratio is 42.54%.

Seagate Technology announced that its board has authorized a stock buyback plan on Thursday, May 22nd that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the data storage provider to reacquire up to 21.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. BNP Paribas upgraded Seagate Technology from a “strong sell” rating to a “hold” rating in a report on Friday, May 16th. Benchmark boosted their price target on Seagate Technology from $128.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. BNP Paribas Exane raised Seagate Technology from an “underperform” rating to a “neutral” rating and set a $100.00 price target for the company in a research report on Friday, May 16th. UBS Group boosted their price target on Seagate Technology from $85.00 to $155.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Finally, Wells Fargo & Company boosted their price target on Seagate Technology from $122.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Fourteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.00.

Insiders Place Their Bets

In related news, Director Jay L. Geldmacher sold 2,500 shares of the business’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $150.50, for a total transaction of $376,250.00. Following the transaction, the director directly owned 352 shares in the company, valued at $52,976. The trade was a 87.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $153.75, for a total value of $3,075,000.00. Following the transaction, the chief executive officer owned 478,912 shares in the company, valued at approximately $73,632,720. This trade represents a 4.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 57,078 shares of company stock valued at $8,561,503 in the last 90 days. Corporate insiders own 0.81% of the company’s stock.

About Seagate Technology

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.