Pinnacle West Asset Management Inc. Has $876,000 Position in Seagate Technology Holdings PLC $STX

Pinnacle West Asset Management Inc. boosted its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 5.7% during the second quarter, Holdings Channel reports. The institutional investor owned 6,070 shares of the data storage provider’s stock after acquiring an additional 325 shares during the quarter. Pinnacle West Asset Management Inc.’s holdings in Seagate Technology were worth $876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in Seagate Technology by 10.7% during the second quarter. Blue Trust Inc. now owns 3,145 shares of the data storage provider’s stock worth $454,000 after buying an additional 303 shares in the last quarter. Fourpath Capital Management LLC acquired a new stake in Seagate Technology during the second quarter worth $246,000. Commerzbank Aktiengesellschaft FI acquired a new stake in Seagate Technology during the second quarter worth $340,000. Callan Family Office LLC acquired a new stake in Seagate Technology during the second quarter worth $208,000. Finally, Blair William & Co. IL boosted its stake in Seagate Technology by 33.5% during the second quarter. Blair William & Co. IL now owns 3,786 shares of the data storage provider’s stock worth $546,000 after buying an additional 951 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on STX shares. Susquehanna lifted their price objective on Seagate Technology from $68.00 to $80.00 and gave the company a “negative” rating in a report on Wednesday, July 30th. Zacks Research raised Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Seagate Technology in a report on Wednesday. Wells Fargo & Company lifted their price objective on Seagate Technology from $122.00 to $160.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. Finally, Morgan Stanley lifted their price objective on Seagate Technology from $168.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $198.58.

Insider Activity

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $249.90, for a total transaction of $4,998,000.00. Following the completion of the sale, the chief executive officer directly owned 485,668 shares of the company’s stock, valued at approximately $121,368,433.20. The trade was a 3.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James Ci Lee sold 1,116 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $153.36, for a total value of $171,149.76. Following the sale, the insider directly owned 257 shares of the company’s stock, valued at $39,413.52. This represents a 81.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 74,210 shares of company stock worth $14,146,016. Corporate insiders own 0.79% of the company’s stock.

Seagate Technology Stock Down 3.3%

Seagate Technology stock opened at $214.38 on Friday. The stock has a 50-day simple moving average of $191.09 and a 200 day simple moving average of $140.39. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $264.83. The stock has a market capitalization of $45.66 billion, a price-to-earnings ratio of 31.67, a P/E/G ratio of 0.99 and a beta of 1.63.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.14. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the previous year, the business posted $1.05 earnings per share. The firm’s revenue for the quarter was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, sell-side analysts anticipate that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Seagate Technology’s payout ratio is currently 42.54%.

Seagate Technology Profile

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.