Seagate Technology Holdings PLC $STX Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management cut its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 10.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,807 shares of the data storage provider’s stock after selling 2,980 shares during the period. Ritholtz Wealth Management’s holdings in Seagate Technology were worth $22,880,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. UNIVEST FINANCIAL Corp lifted its position in shares of Seagate Technology by 305.8% in the 3rd quarter. UNIVEST FINANCIAL Corp now owns 1,396 shares of the data storage provider’s stock worth $1,288,000 after purchasing an additional 1,052 shares during the period. First Command Advisory Services Inc. increased its position in shares of Seagate Technology by 121.9% during the third quarter. First Command Advisory Services Inc. now owns 921 shares of the data storage provider’s stock worth $850,000 after buying an additional 506 shares during the period. Machina Capital S.A.S. increased its position in shares of Seagate Technology by 43.4% during the third quarter. Machina Capital S.A.S. now owns 2,364 shares of the data storage provider’s stock worth $2,180,000 after buying an additional 716 shares during the period. Illinois Municipal Retirement Fund increased its position in shares of Seagate Technology by 27.2% during the third quarter. Illinois Municipal Retirement Fund now owns 24,935 shares of the data storage provider’s stock worth $22,999,000 after buying an additional 5,330 shares during the period. Finally, Knights of Columbus Asset Advisors LLC raised its stake in Seagate Technology by 413.2% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 2,756 shares of the data storage provider’s stock worth $2,542,000 after buying an additional 2,219 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Buying and Selling

In other Seagate Technology news, EVP Ban Teh sold 52,730 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total transaction of $41,239,078.40. Following the transaction, the executive vice president directly owned 5,810 shares in the company, valued at approximately $4,543,884.80. This trade represents a 90.08% decrease in their position. The sale was disclosed in a legal filing 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, CEO William Mosley sold 97,889 shares of Seagate Technology stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $772.14, for a total transaction of $75,584,012.46. Following the transaction, the chief executive officer directly owned 378,108 shares in the company, valued at $291,952,311.12. This represents a 20.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 439,747 shares of company stock worth $349,271,735 over the last three months. Company insiders own 0.51% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on STX shares. Rosenblatt Securities dropped their target price on shares of Seagate Technology from $1,400.00 to $1,100.00 and set a “buy” rating on the stock in a report on Monday, October 26th. Citigroup decreased their price target on Seagate Technology from $1,300.00 to $1,050.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. JPMorgan Chase & Co. increased their price target on Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Wells Fargo & Company lowered their price objective on Seagate Technology from $865.00 to $820.00 and set an “overweight” rating for the company in a research report on Wednesday, October 28th. Finally, Morgan Stanley dropped their price objective on Seagate Technology from $1,200.00 to $1,148.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 28th. Twenty-three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,000.88.

Seagate Technology News Summary

Here’s some of the latest news about STX:

• Positive Sentiment: Morgan Stanley sees substantial recovery potential. The bullish view points to Seagate’s strong sales growth despite a steep recent share-price pullback, suggesting the selloff may have outpaced concerns about the business outlook. This is an analyst thesis, not a guarantee of a rebound. Morgan Stanley sees rebound potential
• Positive Sentiment: New FireCuda Forge drive expands Seagate’s product lineup. The drive uses the Alkemi platform to combine SSD-like responsiveness with HDD capacity, targeting gamers and creators who need high-capacity storage. The launch could help Seagate address demand for performance-oriented storage, though its effect on revenue is not yet clear. Seagate launches FireCuda Forge
• Neutral Sentiment: Durability of the AI-driven rebound remains uncertain. Recent gains follow a difficult stretch for storage stocks, and coverage notes that the outlook depends partly on how AI buildouts are financed and whether spending continues. Storage stocks and the revived AI trade

Seagate Technology Stock Performance

NASDAQ STX opened at $551.72 on Thursday. The company has a market cap of $126.65 billion, a P/E ratio of 28.98 and a beta of 2.16. The company has a fifty day simple moving average of $751.28 and a 200 day simple moving average of $696.43. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.68. Seagate Technology Holdings PLC has a 12-month low of $228.61 and a 12-month high of $1,145.00.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 27th. The data storage provider reported $7.68 EPS for the quarter, topping the consensus estimate of $7.44 by $0.24. Seagate Technology had a net margin of 31.86% and a return on equity of 252.47%. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the previous year, the firm posted $2.61 earnings per share. The firm’s revenue for the quarter was up 61.0% on a year-over-year basis. Sell-side analysts predict that Seagate Technology Holdings PLC will post 37.96 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 Thursday, January 7th. Stockholders of record on Wednesday, December 23rd will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 0.6%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Wednesday, December 23rd. Seagate Technology’s dividend payout ratio (DPR) is currently 15.55%.

Seagate Technology Company Profile

Seagate Technology develops and supplies data-storage products and solutions for businesses and consumers. Its portfolio includes hard disk drives (HDDs), solid-state drives, and storage systems designed for applications ranging from personal computing to large-scale data centers. The company’s products support cloud and enterprise storage, network-attached storage, video surveillance, gaming, and other uses that require digital data to be stored and accessed. Seagate also offers data-management and storage services through its Lyve platform.