Carret Asset Management LLC Makes New Investment in Seagate Technology Holdings PLC $STX

Carret Asset Management LLC bought a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the 2nd quarter, HoldingsChannel reports. The firm bought 1,917 shares of the data storage provider’s stock, valued at approximately $277,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Assetmark Inc. grew its holdings in Seagate Technology by 136.9% during the 2nd quarter. Assetmark Inc. now owns 3,125 shares of the data storage provider’s stock worth $451,000 after acquiring an additional 1,806 shares in the last quarter. HBK Sorce Advisory LLC bought a new position in Seagate Technology during the 2nd quarter worth about $297,000. World Investment Advisors grew its holdings in Seagate Technology by 3.8% during the 2nd quarter. World Investment Advisors now owns 4,609 shares of the data storage provider’s stock worth $665,000 after acquiring an additional 168 shares in the last quarter. Quaker Wealth Management LLC grew its holdings in Seagate Technology by 11,628.6% during the 2nd quarter. Quaker Wealth Management LLC now owns 807 shares of the data storage provider’s stock worth $116,000 after acquiring an additional 814 shares in the last quarter. Finally, New York Life Investment Management LLC grew its holdings in Seagate Technology by 1.5% during the 2nd quarter. New York Life Investment Management LLC now owns 31,682 shares of the data storage provider’s stock worth $4,573,000 after acquiring an additional 462 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on STX shares. The Goldman Sachs Group raised their price target on shares of Seagate Technology from $170.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Fox Advisors increased their target price on shares of Seagate Technology from $245.00 to $270.00 in a research report on Wednesday. Bank of America increased their target price on shares of Seagate Technology from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday. Rosenblatt Securities increased their target price on shares of Seagate Technology from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company increased their target price on shares of Seagate Technology from $240.00 to $250.00 and gave the company an “equal weight” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $255.24.

Insider Transactions at Seagate Technology

In related news, Director Jay L. Geldmacher sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $150.50, for a total value of $376,250.00. Following the sale, the director owned 352 shares in the company, valued at $52,976. This represents a 87.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $249.90, for a total transaction of $4,998,000.00. Following the completion of the transaction, the chief executive officer owned 485,668 shares in the company, valued at approximately $121,368,433.20. This trade represents a 3.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 45,090 shares of company stock worth $9,759,648. 0.79% of the stock is owned by company insiders.

Seagate Technology Stock Up 1.0%

Shares of Seagate Technology stock opened at $268.33 on Friday. The firm has a market capitalization of $57.15 billion, a P/E ratio of 34.45, a PEG ratio of 1.17 and a beta of 1.63. The company has a 50 day moving average price of $211.84 and a 200 day moving average price of $155.61. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $274.48.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, October 28th. The data storage provider reported $2.61 EPS for the quarter, beating the consensus estimate of $2.40 by $0.21. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. Seagate Technology had a net margin of 17.92% and a negative return on equity of 297.87%. Seagate Technology’s revenue was up 21.3% on a year-over-year basis. During the same period last year, the firm posted $1.58 EPS. Seagate Technology has set its Q2 2026 guidance at 2.550-2.950 EPS. As a group, research analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 24th will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, December 24th. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s payout ratio is 36.97%.

Seagate Technology Company 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.