Groupe la Francaise Buys 4,830 Shares of Seagate Technology Holdings PLC $STX

Groupe la Francaise grew its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 18,576.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 4,856 shares of the data storage provider’s stock after buying an additional 4,830 shares during the quarter. Groupe la Francaise’s holdings in Seagate Technology were worth $4,671,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in STX. Integrated Wealth Concepts LLC lifted its holdings in shares of Seagate Technology by 168.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock worth $610,000 after acquiring an additional 4,499 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Seagate Technology in the second quarter valued at $262,000. Cerity Partners LLC increased 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 valued at $5,294,000 after acquiring an additional 7,517 shares during the last quarter. Sei Investments Co. raised its position in Seagate Technology by 64.8% during the second quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock valued at $1,233,000 after purchasing an additional 3,358 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Seagate Technology by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider’s stock valued at $18,458,000 after purchasing an additional 462 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on STX shares. Fox Advisors cut Seagate Technology from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. Wells Fargo & Company boosted 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. Melius Research assumed coverage on Seagate Technology in a research note on Monday, June 29th. They issued a “buy” rating and a $1,600.00 target price for the company. Evercore upped their target price on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen cut shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research report on Sunday. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $986.00.

Insider Buying and Selling

In other Seagate Technology news, CEO William Mosley sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $816.28, for a total value of $24,488,400.00. Following the completion of the sale, the chief executive officer owned 295,168 shares in the company, valued at approximately $240,939,735.04. This trade represents a 9.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Yolanda Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $815.11, for a total value of $611,332.50. Following the completion of the sale, the director owned 3,351 shares in the company, valued at approximately $2,731,433.61. This represents a 18.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 191,765 shares of company stock valued at $161,865,249 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $849.28 on Tuesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. Seagate Technology Holdings PLC has a 52-week low of $183.02 and a 52-week high of $1,145.00. The stock has a market capitalization of $192.49 billion, a price-to-earnings ratio of 61.19 and a beta of 2.06. The company’s 50 day moving average price is $849.54 and its 200-day moving average price is $714.80.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, beating the consensus estimate of $5.10 by $0.61. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The firm’s revenue for the quarter was up 48.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities research analysts forecast that Seagate Technology Holdings PLC will post 35.7 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be issued a dividend of $0.74 per share. 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%.

Seagate Technology Profile

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.