Primecap Management Co. CA Has $154.52 Million Holdings in Seagate Technology Holdings PLC $STX

Primecap Management Co. CA decreased its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 33.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 654,557 shares of the data storage provider’s stock after selling 328,650 shares during the period. Primecap Management Co. CA’s holdings in Seagate Technology were worth $154,515,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. WCM Investment Management LLC bought a new stake in Seagate Technology during the 3rd quarter valued at $1,187,621,000. Norges Bank bought a new position in shares of Seagate Technology in the second quarter valued at $197,027,000. Boston Partners acquired a new position in shares of Seagate Technology during the second quarter valued at about $193,500,000. Soroban Capital Partners LP increased its position in shares of Seagate Technology by 1,468.1% during the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after acquiring an additional 1,327,197 shares in the last quarter. Finally, Trivest Advisors Ltd acquired a new stake in shares of Seagate Technology in the 3rd quarter worth about $170,435,000. 92.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on STX. Cantor Fitzgerald lifted their price target on Seagate Technology from $500.00 to $650.00 and gave the company an “overweight” rating in a research note on Wednesday, February 4th. The Goldman Sachs Group lifted their target price on Seagate Technology from $310.00 to $385.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Sanford C. Bernstein increased their price target on Seagate Technology from $275.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Mizuho raised their price objective on Seagate Technology from $440.00 to $475.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Finally, Wedbush upped their target price on shares of Seagate Technology from $290.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $447.35.

Insider Activity

In other Seagate Technology news, EVP Kian Fatt Chong sold 5,846 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $416.48, for a total transaction of $2,434,742.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ban Seng Teh sold 20,195 shares of the business’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $442.29, for a total value of $8,932,046.55. Following the completion of the sale, the executive vice president owned 3,092 shares in the company, valued at approximately $1,367,560.68. The trade was 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 ninety days, insiders sold 89,801 shares of company stock worth $32,360,491. 0.79% of the stock is owned by insiders.

Seagate Technology Stock Down 2.9%

STX stock opened at $409.67 on Friday. The stock has a market cap of $89.34 billion, a P/E ratio of 46.34, a P/E/G ratio of 0.94 and a beta of 1.62. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63. The stock’s fifty day simple moving average is $357.76 and its two-hundred day simple moving average is $273.68. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $459.84.

Seagate Technology (NASDAQ:STX) last released its 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. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.73 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Dividend Announcement

The business 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 $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Wednesday, March 25th. Seagate Technology’s payout ratio 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.