Kovack Advisors Inc. Sells 1,877 Shares of Seagate Technology Holdings PLC $STX

Kovack Advisors Inc. decreased its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 47.0% in the third quarter, Holdings Channel reports. The firm owned 2,120 shares of the data storage provider’s stock after selling 1,877 shares during the quarter. Kovack Advisors Inc.’s holdings in Seagate Technology were worth $501,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STX. Rakuten Securities Inc. boosted its position in shares of Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after buying an additional 168 shares during the last quarter. MTM Investment Management LLC bought a new position in Seagate Technology during the 2nd quarter valued at about $29,000. First Horizon Corp purchased a new stake in shares of Seagate Technology during the 3rd quarter valued at about $33,000. Physician Wealth Advisors Inc. boosted its holdings in shares of Seagate Technology by 43.7% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock valued at $35,000 after acquiring an additional 45 shares during the last quarter. Finally, United Community Bank grew its stake in shares of Seagate Technology by 35.2% in the third quarter. United Community Bank now owns 169 shares of the data storage provider’s stock worth $40,000 after acquiring an additional 44 shares during the period. 92.87% of the stock is owned by institutional investors.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $285.56, for a total value of $5,711,200.00. Following the completion of the transaction, the chief executive officer directly owned 429,895 shares in the company, valued at $122,760,816.20. This represents a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ban Seng Teh sold 20,195 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $442.29, for a total transaction of $8,932,046.55. Following the completion of the sale, the executive vice president directly owned 3,092 shares of the company’s stock, valued at approximately $1,367,560.68. This trade represents a 86.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 83,955 shares of company stock valued at $29,925,749. 0.79% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on STX. Loop Capital increased their price objective on shares of Seagate Technology from $465.00 to $700.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Benchmark increased their price target on Seagate Technology from $255.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Evercore lifted their price objective on Seagate Technology from $330.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Zacks Research upgraded Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 17th. Finally, Barclays raised their target price on Seagate Technology from $370.00 to $425.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $447.35.

Seagate Technology Price Performance

NASDAQ STX opened at $411.11 on Friday. The business’s fifty day moving average is $347.93 and its 200 day moving average is $267.28. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $459.84. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12. The company has a market capitalization of $89.65 billion, a PE ratio of 46.51, a price-to-earnings-growth ratio of 0.92 and a beta of 1.62.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter in the prior year, the business posted $2.03 earnings per share. The business’s quarterly revenue was up 21.5% on a year-over-year basis. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Sell-side analysts predict that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th will be paid a dividend of $0.74 per share. The ex-dividend date is Wednesday, March 25th. This represents a $2.96 dividend on an annualized basis and a yield of 0.7%. Seagate Technology’s dividend payout ratio (DPR) is presently 33.48%.

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.