Seagate Technology Holdings PLC $STX Shares Sold by Advisors Capital Management LLC

Advisors Capital Management LLC reduced its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 33.4% in the 3rd quarter, Holdings Channel reports. The fund owned 195,421 shares of the data storage provider’s stock after selling 98,065 shares during the period. Advisors Capital Management LLC’s holdings in Seagate Technology were worth $46,131,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Rakuten Securities Inc. lifted its stake in shares of Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 168 shares during the period. MTM Investment Management LLC purchased a new position in Seagate Technology in the second quarter valued at $29,000. First Horizon Corp acquired a new position in shares of Seagate Technology in the third quarter worth about $33,000. Physician Wealth Advisors Inc. boosted its stake in shares of Seagate Technology by 43.7% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock worth $35,000 after acquiring an additional 45 shares in the last quarter. Finally, United Community Bank grew its position in shares of Seagate Technology by 35.2% during the 3rd quarter. United Community Bank now owns 169 shares of the data storage provider’s stock valued at $40,000 after acquiring an additional 44 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Activity at Seagate Technology

In related news, Director Jay L. Geldmacher sold 925 shares of the firm’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $448.02, for a total transaction of $414,418.50. Following the completion of the sale, the director directly owned 223 shares in the company, valued at approximately $99,908.46. This trade represents a 80.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology 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 transaction, the director directly owned 5,601 shares in the company, valued at $1,528,568.91. This trade represents a 11.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 83,955 shares of company stock valued at $29,925,749 in the last three months. Company insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

STX has been the subject of a number of analyst reports. Jefferies Financial Group reaffirmed a “hold” rating on shares of Seagate Technology in a report on Wednesday, February 4th. Citigroup increased their target price on Seagate Technology from $460.00 to $480.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Rosenblatt Securities lifted their price target on shares of Seagate Technology from $370.00 to $500.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. UBS Group upped their price objective on shares of Seagate Technology from $385.00 to $440.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Finally, TD Cowen increased their price objective on shares of Seagate Technology from $340.00 to $500.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Eighteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $447.35.

Seagate Technology Stock Performance

STX opened at $415.94 on Wednesday. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $459.84. The firm has a market capitalization of $90.71 billion, a PE ratio of 47.05, a PEG ratio of 0.95 and a beta of 1.62. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63. The firm’s 50-day moving average price is $340.93 and its 200 day moving average price is $262.56.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.83 billion during 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%. Seagate Technology’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, sell-side analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be given a dividend of $0.74 per share. The ex-dividend date 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 presently 33.48%.

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.