Egerton Capital UK LLP Has $376.04 Million Position in Seagate Technology Holdings PLC $STX

Egerton Capital UK LLP cut its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 22.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,592,983 shares of the data storage provider’s stock after selling 458,451 shares during the quarter. Seagate Technology makes up 4.0% of Egerton Capital UK LLP’s portfolio, making the stock its 12th largest position. Egerton Capital UK LLP owned 0.75% of Seagate Technology worth $376,040,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in STX. Vanguard Group Inc. increased its position in Seagate Technology by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 28,140,287 shares of the data storage provider’s stock valued at $6,642,796,000 after acquiring an additional 442,749 shares in the last quarter. State Street Corp grew its stake in shares of Seagate Technology by 5.0% during the second quarter. State Street Corp now owns 9,001,365 shares of the data storage provider’s stock valued at $1,305,499,000 after purchasing an additional 432,455 shares during the last quarter. WCM Investment Management LLC bought a new stake in shares of Seagate Technology during the third quarter valued at approximately $1,187,621,000. Geode Capital Management LLC increased its holdings in shares of Seagate Technology by 1.9% in the second quarter. Geode Capital Management LLC now owns 4,567,181 shares of the data storage provider’s stock valued at $656,066,000 after purchasing an additional 85,660 shares in the last quarter. Finally, Soroban Capital Partners LP raised its position in Seagate Technology by 1,468.1% in the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after purchasing an additional 1,327,197 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Activity

In other news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $429.27, for a total transaction of $8,585,400.00. Following the completion of the sale, the chief executive officer owned 410,056 shares of the company’s stock, valued at $176,024,739.12. This represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 20,195 shares of the firm’s 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 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. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 89,801 shares of company stock worth $32,360,491. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on STX shares. China Renaissance increased their price objective on Seagate Technology from $325.00 to $452.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. TD Cowen raised their price target on Seagate Technology from $340.00 to $500.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. BNP Paribas Exane lifted their price objective on Seagate Technology from $430.00 to $530.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. KeyCorp set a $500.00 target price on shares of Seagate Technology in a research report on Wednesday, January 28th. Finally, Cantor Fitzgerald lifted their price target on shares of Seagate Technology from $500.00 to $650.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. One research 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $447.35.

Seagate Technology Trading Down 0.4%

STX opened at $407.84 on Friday. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $459.84. The firm has a market cap of $88.94 billion, a PE ratio of 46.14, a price-to-earnings-growth ratio of 0.92 and a beta of 1.62. 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 firm’s fifty day moving average is $359.99 and its two-hundred day moving average is $275.46.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter last year, the business posted $2.03 EPS. The firm’s revenue was up 21.5% compared to the same quarter last year. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Equities research analysts anticipate that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Announces Dividend

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

About Seagate Technology

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.