Rehmann Capital Advisory Group Makes New Investment in Seagate Technology Holdings PLC $STX

Rehmann Capital Advisory Group acquired a new stake in Seagate Technology Holdings PLC (NASDAQ:STX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 967 shares of the data storage provider’s stock, valued at approximately $927,000.

Several other large investors have also modified their holdings of STX. Integrated Wealth Concepts LLC raised its position in Seagate Technology by 168.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock valued at $610,000 after purchasing an additional 4,499 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Seagate Technology in the second quarter valued at about $262,000. Cerity Partners LLC grew its holdings in shares of Seagate Technology by 25.8% during the second quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock worth $5,294,000 after buying an additional 7,517 shares during the last quarter. Sei Investments Co. increased its position in Seagate Technology by 64.8% in the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock valued at $1,233,000 after acquiring an additional 3,358 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Seagate Technology by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider’s stock valued at $18,458,000 after acquiring an additional 462 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Stock Performance

Shares of STX opened at $808.54 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. Seagate Technology Holdings PLC has a 52-week low of $170.01 and a 52-week high of $1,145.00. The company has a 50-day simple moving average of $857.47 and a 200-day simple moving average of $706.14. The company has a market capitalization of $183.26 billion, a PE ratio of 58.25 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the prior year, the business posted $2.59 earnings per share. The firm’s revenue for the quarter was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities research analysts predict that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be issued a $0.74 dividend. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 annualized dividend and a yield of 0.4%. Seagate Technology’s dividend payout ratio is 21.33%.

Insider Transactions at Seagate Technology

In other news, EVP James Ci Lee sold 9,013 shares of Seagate Technology stock in a transaction on Monday, August 24th. The stock was sold at an average price of $794.84, for a total transaction of $7,163,892.92. Following the completion of the transaction, the executive vice president owned 347 shares of the company’s stock, valued at $275,809.48. The trade was a 96.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 20,657 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $910.48, for a total transaction of $18,807,785.36. Following the completion of the sale, the chief executive officer owned 320,860 shares in the company, valued at $292,136,612.80. This represents a 6.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 161,015 shares of company stock worth $136,765,516. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

STX has been the topic of a number of recent research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $1,300.00 target price on shares of Seagate Technology in a report on Wednesday, July 29th. JPMorgan Chase & Co. lifted their target price on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Argus raised their price objective on shares of Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Sanford C. Bernstein reiterated an “outperform” rating and set a $1,350.00 target price on shares of Seagate Technology in a research report on Wednesday, July 29th. Finally, Fox Advisors downgraded Seagate Technology from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $986.00.

Seagate Technology 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.