Seagate Technology Holdings PLC $STX Shares Sold by Maple Rock Capital Partners Inc.

Maple Rock Capital Partners Inc. decreased its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 43.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 301,162 shares of the data storage provider’s stock after selling 232,823 shares during the quarter. Seagate Technology makes up 5.8% of Maple Rock Capital Partners Inc.’s investment portfolio, making the stock its 2nd biggest holding. Maple Rock Capital Partners Inc. owned approximately 0.13% of Seagate Technology worth $290,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of STX. Integrated Wealth Concepts LLC increased its stake in shares of Seagate Technology by 168.0% during the first quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock worth $610,000 after buying an additional 4,499 shares during the period. Sivia Capital Partners LLC acquired a new stake in Seagate Technology in the second quarter valued at approximately $262,000. Cerity Partners LLC lifted its stake in Seagate Technology by 25.8% in the second quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock worth $5,294,000 after acquiring an additional 7,517 shares during the last quarter. Sei Investments Co. lifted its stake in Seagate Technology by 64.8% in the second quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock worth $1,233,000 after acquiring an additional 3,358 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings 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 worth $18,458,000 after acquiring an additional 462 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. TD Cowen increased their price objective on shares of Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Fox Advisors cut shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Sanford C. Bernstein reiterated an “outperform” rating and set a $1,350.00 target price on shares of Seagate Technology in a research note on Wednesday, July 29th. Wedbush increased their target price on Seagate Technology from $825.00 to $1,000.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average target price of $986.00.

Seagate Technology Stock Down 0.2%

STX stock opened at $828.38 on Tuesday. 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 $163.86 and a twelve month high of $1,145.00. The company’s 50 day moving average is $865.57 and its two-hundred day moving average is $700.60. The stock has a market cap of $187.75 billion, a P/E ratio of 59.68 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last issued 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 business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the previous year, the firm earned $2.59 EPS. The company’s revenue 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. Research analysts expect that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

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

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP James Ci Lee sold 9,013 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $794.84, for a total value of $7,163,892.92. Following the completion of the transaction, the executive vice president owned 347 shares in the company, valued at $275,809.48. This represents a 96.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 18,138 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $849.35, for a total value of $15,405,510.30. Following the transaction, the chief executive officer directly owned 298,483 shares in the company, valued at approximately $253,516,536.05. The trade was a 5.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 162,015 shares of company stock valued at $137,693,196 over the last quarter. 0.79% of the stock is owned by corporate insiders.

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.