Pelham Capital Ltd. Invests $9.96 Million in Seagate Technology Holdings PLC $STX

Pelham Capital Ltd. bought a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,324 shares of the data storage provider’s stock, valued at approximately $9,963,000. Seagate Technology comprises about 5.7% of Pelham Capital Ltd.’s holdings, making the stock its 10th largest position.

Other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp bought a new position in Seagate Technology during the 2nd quarter valued at $39,000. Trust Co. of Vermont bought a new stake in shares of Seagate Technology in the 2nd quarter worth $54,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of Seagate Technology by 23.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 15 shares during the last quarter. WealthCollab LLC lifted its position in shares of Seagate Technology by 27.4% during the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 20 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Seagate Technology during the first quarter valued at about $39,000. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Down 0.2%

STX opened at $828.38 on Tuesday. Seagate Technology Holdings PLC has a twelve month low of $163.86 and a twelve month high of $1,145.00. The company’s 50-day moving average price is $865.57 and its two-hundred day moving average price is $700.60. The stock has a market cap of $187.75 billion, a price-to-earnings ratio of 59.68 and a beta of 2.06. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.61. The company had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. Seagate Technology’s quarterly revenue was up 48.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, equities analysts expect that Seagate Technology Holdings PLC will post 35.7 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, October 7th. Shareholders of record on Thursday, September 24th will be given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology’s dividend payout ratio (DPR) is currently 21.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wedbush upped their price objective on shares of Seagate Technology from $825.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Sanford C. Bernstein reissued an “outperform” rating and set a $1,350.00 target price on shares of Seagate Technology in a research report on Wednesday, July 29th. Wall Street Zen upgraded Seagate Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Fox Advisors lowered Seagate Technology from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. Finally, Morgan Stanley lifted their price target on Seagate Technology from $1,035.00 to $1,187.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $986.00.

Insiders Place Their Bets

In related news, EVP John Christopher Morris sold 3,516 shares of Seagate Technology stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $849.35, for a total value of $2,986,314.60. Following the completion of the sale, the executive vice president owned 12,805 shares of the company’s stock, valued at approximately $10,875,926.75. This trade represents a 21.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 9,862 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $852.97, for a total value of $8,411,990.14. Following the completion of the sale, the executive vice president owned 5,210 shares in the company, valued at $4,443,973.70. This represents a 65.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 162,015 shares of company stock valued at $137,693,196. Company insiders own 0.79% of the company’s stock.

Seagate Technology Company 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.