Simplify Asset Management Inc. Makes New Investment in Seagate Technology Holdings PLC $STX

Simplify Asset Management Inc. bought a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,026 shares of the data storage provider’s stock, valued at approximately $283,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB boosted its position in shares of Seagate Technology by 828.5% during the fourth quarter. Swedbank AB now owns 423,211 shares of the data storage provider’s stock worth $116,548,000 after buying an additional 377,630 shares during the period. Prospera Financial Services Inc boosted its position in shares of Seagate Technology by 3.9% during the fourth quarter. Prospera Financial Services Inc now owns 3,112 shares of the data storage provider’s stock worth $857,000 after buying an additional 116 shares during the period. Coldstream Capital Management Inc. boosted its position in shares of Seagate Technology by 1.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 8,716 shares of the data storage provider’s stock worth $2,402,000 after buying an additional 163 shares during the period. Pathfinder Wealth Consulting Inc. acquired a new position in shares of Seagate Technology during the fourth quarter worth about $335,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Seagate Technology by 9.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,202 shares of the data storage provider’s stock worth $607,000 after buying an additional 186 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Stock Performance

STX opened at $812.73 on Tuesday. Seagate Technology Holdings PLC has a 52-week low of $108.28 and a 52-week high of $841.31. The firm has a market capitalization of $182.24 billion, a PE ratio of 77.11 and a beta of 1.98. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. The business’s 50-day simple moving average is $574.69 and its 200 day simple moving average is $416.45.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.59. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The business’s revenue for the quarter was up 44.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, sell-side analysts expect that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be paid a $0.74 dividend. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 annualized dividend and a yield of 0.4%. Seagate Technology’s dividend payout ratio is currently 28.08%.

Analyst Ratings Changes

Several research firms have recently weighed in on STX. TD Cowen upped their price objective on Seagate Technology from $500.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. upped their price objective on Seagate Technology from $525.00 to $775.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Loop Capital upped their target price on Seagate Technology from $950.00 to $1,140.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Zacks Research upgraded Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. Finally, Cantor Fitzgerald upped their target price on Seagate Technology from $700.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $733.71.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CFO Gianluca Romano sold 1,902 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $770.00, for a total value of $1,464,540.00. Following the sale, the chief financial officer owned 40,945 shares in the company, valued at $31,527,650. This represents a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $817.28, for a total value of $6,540,691.84. Following the completion of the sale, the executive vice president owned 3,691 shares in the company, valued at $3,016,580.48. This represents a 68.44% decrease in their position. 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. Over the last ninety days, insiders have sold 142,437 shares of company stock valued at $86,093,575. Company insiders own 0.79% of the company’s stock.

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.