Corton Capital Inc. Takes Position in Seagate Technology Holdings PLC $STX

Corton Capital Inc. purchased a new position in Seagate Technology Holdings PLC (NASDAQ:STX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,830 shares of the data storage provider’s stock, valued at approximately $553,000. Seagate Technology comprises 0.6% of Corton Capital Inc.’s investment portfolio, making the stock its 11th largest position.

Several other large investors also recently bought and sold shares of STX. Harbor Asset Planning Inc. bought a new stake in Seagate Technology in the second quarter worth $27,000. Wayfinding Financial LLC purchased a new position in Seagate Technology during the first quarter worth $31,000. Zions Bancorporation National Association UT purchased a new position in Seagate Technology during the first quarter worth $42,000. GoalVest Advisory LLC boosted its stake in Seagate Technology by 30.6% during the second quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider’s stock worth $46,000 after buying an additional 75 shares during the period. Finally, Costello Asset Management INC purchased a new position in Seagate Technology during the first quarter worth $47,000. Institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling

In other news, EVP Ban Seng Teh sold 1,410 shares of Seagate Technology stock in a transaction on Monday, October 13th. The stock was sold at an average price of $225.56, for a total transaction of $318,039.60. Following the transaction, the executive vice president owned 18,041 shares in the company, valued at $4,069,327.96. The trade was a 7.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $249.90, for a total value of $4,998,000.00. Following the transaction, the chief executive officer owned 485,668 shares in the company, valued at approximately $121,368,433.20. This represents a 3.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 45,090 shares of company stock worth $9,759,648. 0.79% of the stock is currently owned by company insiders.

Seagate Technology Stock Performance

Shares of Seagate Technology stock opened at $255.88 on Monday. The company has a market capitalization of $54.49 billion, a PE ratio of 32.85, a P/E/G ratio of 1.17 and a beta of 1.63. The company has a 50-day simple moving average of $213.78 and a two-hundred day simple moving average of $158.07. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $280.35.

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

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 24th will be issued a $0.74 dividend. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date is Wednesday, December 24th. This represents a $2.96 annualized dividend and a yield of 1.2%. Seagate Technology’s dividend payout ratio is currently 36.97%.

Analyst Upgrades and Downgrades

STX has been the subject of several recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of Seagate Technology from $170.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Evercore ISI lifted their price objective on shares of Seagate Technology from $160.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Argus lifted their price objective on shares of Seagate Technology from $170.00 to $300.00 in a research note on Thursday. Wedbush boosted their target price on shares of Seagate Technology from $260.00 to $290.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Finally, Bank of America boosted their target price on shares of Seagate Technology from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $263.18.

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.