West Family Investments Inc. Acquires 633 Shares of Seagate Technology Holdings PLC $STX

West Family Investments Inc. boosted its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 82.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,397 shares of the data storage provider’s stock after purchasing an additional 633 shares during the quarter. West Family Investments Inc.’s holdings in Seagate Technology were worth $1,348,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Waverly Advisors LLC boosted its stake in shares of Seagate Technology by 18.8% in the 2nd quarter. Waverly Advisors LLC now owns 4,788 shares of the data storage provider’s stock valued at $4,620,000 after purchasing an additional 758 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Seagate Technology by 3.6% in the second quarter. Parkside Financial Bank & Trust now owns 1,872 shares of the data storage provider’s stock valued at $1,806,000 after buying an additional 65 shares in the last quarter. Cornerstone Financial Management LLC grew its stake in shares of Seagate Technology by 109.7% during the second quarter. Cornerstone Financial Management LLC now owns 65 shares of the data storage provider’s stock worth $63,000 after buying an additional 34 shares during the last quarter. Tucker Asset Management LLC acquired a new position in shares of Seagate Technology during the second quarter worth $791,000. Finally, Advus Financial Partners LLC lifted its stake in shares of Seagate Technology by 21.1% in the 2nd quarter. Advus Financial Partners LLC now owns 2,059 shares of the data storage provider’s stock valued at $1,987,000 after acquiring an additional 359 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 30,000 shares of Seagate Technology stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $816.28, for a total transaction of $24,488,400.00. Following the completion of the transaction, the chief executive officer owned 295,168 shares in the company, valued at approximately $240,939,735.04. The trade was a 9.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 14,091 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $811.25, for a total value of $11,431,323.75. Following the sale, the chief financial officer directly owned 21,543 shares of the company’s stock, valued at $17,476,758.75. This represents a 39.54% 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. Insiders sold a total of 191,765 shares of company stock worth $161,865,249 in the last quarter. 0.79% of the stock is owned by insiders.

Seagate Technology Stock Up 6.5%

NASDAQ STX traded up $55.10 during mid-day trading on Tuesday, hitting $904.38. The company’s stock had a trading volume of 5,181,693 shares, compared to its average volume of 4,353,087. The firm has a market capitalization of $204.97 billion, a price-to-earnings ratio of 65.16 and a beta of 2.06. The company’s 50 day simple moving average is $849.54 and its 200 day simple moving average is $714.80. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. Seagate Technology Holdings PLC has a twelve month low of $188.00 and a twelve month high of $1,145.00.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data 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 firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the company posted $2.59 earnings per share. The business’s revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Analysts anticipate that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Thursday, September 24th. Seagate Technology’s dividend payout ratio is currently 21.33%.

Wall Street Analysts Forecast Growth

STX has been the subject of several analyst reports. Wells Fargo & Company raised their target price on Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Sanford C. Bernstein restated an “outperform” rating and set a $1,350.00 price target on shares of Seagate Technology in a report on Wednesday, July 29th. Mizuho raised their price objective on shares of Seagate Technology from $875.00 to $1,090.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. JPMorgan Chase & Co. boosted 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 research report on Wednesday, July 29th. Finally, Melius Research began coverage on shares of Seagate Technology in a research note on Monday, June 29th. They set a “buy” rating and a $1,600.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $986.00.

About Seagate Technology

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.