Pinnbrook Capital Management LP Sells 39,847 Shares of Seagate Technology Holdings PLC $STX

Pinnbrook Capital Management LP cut its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 85.4% in the third quarter, HoldingsChannel reports. The fund owned 6,795 shares of the data storage provider’s stock after selling 39,847 shares during the period. Pinnbrook Capital Management LP’s holdings in Seagate Technology were worth $1,604,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Brown Brothers Harriman & Co. raised its position in Seagate Technology by 43.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,180 shares of the data storage provider’s stock worth $279,000 after purchasing an additional 358 shares during the last quarter. Glenmede Investment Management LP lifted its holdings in Seagate Technology by 28.6% during the 3rd quarter. Glenmede Investment Management LP now owns 28,636 shares of the data storage provider’s stock worth $6,760,000 after buying an additional 6,371 shares in the last quarter. Pathstone Holdings LLC boosted its position in Seagate Technology by 37.5% in the 3rd quarter. Pathstone Holdings LLC now owns 30,101 shares of the data storage provider’s stock valued at $7,111,000 after buying an additional 8,210 shares during the last quarter. Boston Partners increased its stake in shares of Seagate Technology by 2.4% in the 3rd quarter. Boston Partners now owns 1,372,103 shares of the data storage provider’s stock valued at $323,860,000 after buying an additional 31,602 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Seagate Technology by 147.5% in the 3rd quarter. Marshall Wace LLP now owns 93,371 shares of the data storage provider’s stock valued at $22,041,000 after buying an additional 289,971 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Up 2.6%

NASDAQ:STX opened at $383.71 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $459.84. The stock’s fifty day simple moving average is $378.24 and its 200-day simple moving average is $290.46. The firm has a market capitalization of $83.68 billion, a P/E ratio of 43.41, a P/E/G ratio of 0.83 and a beta of 1.61.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, beating 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 the consensus estimate of $2.73 billion. During the same quarter in the prior year, the company posted $2.03 earnings per share. The firm’s 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. Equities research analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.8%. Seagate Technology’s dividend payout ratio is 33.48%.

Insiders Place Their Bets

In related news, EVP Ban Seng Teh sold 20,195 shares of Seagate Technology stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $442.29, for a total transaction of $8,932,046.55. Following the transaction, the executive vice president owned 3,092 shares of the company’s stock, valued at $1,367,560.68. This trade represents a 86.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay L. Geldmacher sold 925 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $448.02, for a total transaction of $414,418.50. Following the transaction, the director owned 223 shares of the company’s stock, valued at approximately $99,908.46. This represents a 80.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 89,051 shares of company stock worth $34,430,409 over the last ninety days. Company insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

STX has been the topic of several research reports. Wells Fargo & Company upped their price target on Seagate Technology from $360.00 to $450.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 28th. Mizuho lifted their price objective on Seagate Technology from $440.00 to $475.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Rosenblatt Securities upped their target price on shares of Seagate Technology from $370.00 to $500.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Benchmark raised their target price on shares of Seagate Technology from $255.00 to $325.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Finally, Morgan Stanley lifted their price target on shares of Seagate Technology from $337.00 to $372.00 and gave the stock an “overweight” rating in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and an average target price of $447.35.

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.