Allspring Global Investments Holdings LLC Has $8.89 Million Stake in Seagate Technology Holdings PLC $STX

Allspring Global Investments Holdings LLC increased its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 21.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,263 shares of the data storage provider’s stock after buying an additional 10,847 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Seagate Technology were worth $8,886,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new stake in shares of Seagate Technology in the first quarter valued at about $31,000. Golden State Wealth Management LLC boosted its position 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 during the period. Zions Bancorporation National Association UT bought a new stake in shares of Seagate Technology in the first quarter valued at about $42,000. Costello Asset Management INC bought a new stake in shares of Seagate Technology in the first quarter valued at about $47,000. Finally, Trust Co. of Toledo NA OH bought a new stake in shares of Seagate Technology in the second quarter valued at about $57,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Ban Seng Teh sold 5,905 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $155.00, for a total value of $915,275.00. Following the completion of the transaction, the executive vice president owned 6,147 shares of the company’s stock, valued at $952,785. This represents a 49.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jay L. Geldmacher sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $150.50, for a total value of $376,250.00. Following the completion of the transaction, the director directly owned 352 shares of the company’s stock, valued at $52,976. This represents a 87.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,620 shares of company stock valued at $14,464,056 over the last three months. Insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on STX. UBS Group upped their price objective on shares of Seagate Technology from $85.00 to $155.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. The Goldman Sachs Group upped their price objective on shares of Seagate Technology from $170.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Robert W. Baird upped their price objective on shares of Seagate Technology from $120.00 to $188.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Wells Fargo & Company upped their price objective on shares of Seagate Technology from $160.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Monday, October 13th. Finally, TD Cowen upped their price objective on shares of Seagate Technology from $135.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued 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 $229.40.

Seagate Technology Trading Down 0.3%

Shares of NASDAQ STX opened at $225.40 on Monday. The stock has a 50-day moving average price of $198.09 and a two-hundred day moving average price of $145.96. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $264.83. The company has a market cap of $48.00 billion, a price-to-earnings ratio of 33.29, a PEG ratio of 1.01 and a beta of 1.63.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the firm posted $1.05 earnings per share. The firm’s revenue was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, sell-side analysts predict that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th were paid a $0.72 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.88 annualized dividend and a dividend yield of 1.3%. Seagate Technology’s dividend payout ratio is currently 42.54%.

Seagate Technology Profile

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.