46,642 Shares in Seagate Technology Holdings PLC $STX Bought by Pinnbrook Capital Management LP

Pinnbrook Capital Management LP purchased a new stake in Seagate Technology Holdings PLC (NASDAQ:STX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 46,642 shares of the data storage provider’s stock, valued at approximately $6,732,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vision Financial Markets LLC bought a new position in shares of Seagate Technology in the 2nd quarter valued at about $173,000. Nordea Investment Management AB raised its holdings in Seagate Technology by 18.0% during the second quarter. Nordea Investment Management AB now owns 18,422 shares of the data storage provider’s stock worth $2,632,000 after acquiring an additional 2,808 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd boosted its position in Seagate Technology by 185.8% during the second quarter. Central Asset Investments & Management Holdings HK Ltd now owns 18,734 shares of the data storage provider’s stock valued at $2,704,000 after purchasing an additional 12,178 shares during the last quarter. Retirement Planning Co of New England Inc. bought a new position in Seagate Technology in the first quarter valued at approximately $272,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Seagate Technology by 21.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 61,263 shares of the data storage provider’s stock valued at $8,886,000 after purchasing an additional 10,847 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on STX. Sanford C. Bernstein upped their price target on shares of Seagate Technology from $275.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Barclays upped their target price on shares of Seagate Technology from $200.00 to $240.00 and gave the company an “equal weight” rating in a report on Wednesday, October 29th. Argus lifted their price target on Seagate Technology from $170.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 30th. Cantor Fitzgerald boosted their price target on Seagate Technology from $280.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Mizuho raised their price objective on Seagate Technology from $245.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and a consensus price target of $281.36.

Insider Activity at Seagate Technology

In other news, EVP Ban Seng Teh sold 6,000 shares of Seagate Technology stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $270.00, for a total value of $1,620,000.00. Following the completion of the sale, the executive vice president directly owned 12,041 shares in the company, valued at approximately $3,251,070. The trade was a 33.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gianluca Romano sold 54,021 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $285.16, for a total value of $15,404,628.36. Following the completion of the sale, the chief financial officer owned 56,293 shares of the company’s stock, valued at approximately $16,052,511.88. This trade represents a 48.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 131,261 shares of company stock valued at $34,210,708. 0.79% of the stock is currently owned by company insiders.

Seagate Technology Price Performance

STX opened at $258.21 on Friday. The business has a fifty day simple moving average of $234.03 and a 200 day simple moving average of $170.52. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $297.88. The company has a market capitalization of $55.14 billion, a PE ratio of 33.15, a price-to-earnings-growth ratio of 1.17 and a beta of 1.63.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 28th. The data storage provider reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.21. Seagate Technology had a negative return on equity of 297.87% and a net margin of 17.92%.The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the firm earned $1.58 earnings per share. The company’s revenue was up 21.3% on a year-over-year basis. Seagate Technology has set its Q2 2026 guidance at 2.550-2.950 EPS. Equities analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, December 24th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s dividend payout ratio (DPR) is currently 38.00%.

About Seagate Technology

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.