HighVista Strategies LLC Reduces Holdings in Seagate Technology Holdings PLC $STX

HighVista Strategies LLC reduced its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 68.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,898 shares of the data storage provider’s stock after selling 15,202 shares during the period. HighVista Strategies LLC’s holdings in Seagate Technology were worth $1,628,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. WCM Investment Management LLC purchased a new position in Seagate Technology during the third quarter valued at $1,187,621,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Seagate Technology by 1,072.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock worth $696,262,000 after buying an additional 2,697,957 shares during the period. Norges Bank purchased a new position in shares of Seagate Technology during the 2nd quarter valued at about $197,027,000. Soroban Capital Partners LP grew its stake in shares of Seagate Technology by 1,468.1% during the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock valued at $204,602,000 after acquiring an additional 1,327,197 shares during the period. Finally, Trivest Advisors Ltd purchased a new stake in Seagate Technology in the 3rd quarter worth approximately $170,435,000. Institutional investors own 92.87% of the company’s stock.

Insider Activity at Seagate Technology

In related news, EVP James Ci Lee sold 673 shares of Seagate Technology stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $348.85, for a total transaction of $234,776.05. Following the completion of the transaction, the executive vice president directly owned 257 shares of the company’s stock, valued at approximately $89,654.45. The trade was a 72.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jay L. Geldmacher sold 925 shares of the company’s stock in a transaction dated 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 in the company, valued at $99,908.46. The trade was a 80.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 89,051 shares of company stock worth $34,430,409 in the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Seagate Technology Trading Up 2.6%

Shares of STX opened at $383.71 on Monday. The stock has a market capitalization of $83.68 billion, a PE ratio of 43.41, a P/E/G ratio of 0.85 and a beta of 1.61. The company’s fifty day moving average is $378.24 and its 200 day moving average is $292.20. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $459.84.

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 the consensus estimate of $2.77 by $0.34. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same quarter last year, the business earned $2.03 earnings per share. Seagate Technology’s quarterly 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. Sell-side analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Rosenblatt Securities raised their target price on shares of Seagate Technology from $370.00 to $500.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 17th. Cantor Fitzgerald upped their target price on shares of Seagate Technology from $500.00 to $650.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th. Loop Capital increased their target price on Seagate Technology from $465.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Finally, Evercore increased their price objective on shares of Seagate Technology from $330.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $447.35.

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.