Elm Partners Management LLC Takes Position in Seagate Technology Holdings PLC $STX

Elm Partners Management LLC acquired a new stake in Seagate Technology Holdings PLC (NASDAQ:STX) in the fourth quarter, HoldingsChannel reports. The firm acquired 828 shares of the data storage provider’s stock, valued at approximately $228,000.

Other institutional investors have also modified their holdings of the company. Salomon & Ludwin LLC raised its position in shares of Seagate Technology by 124.4% in the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after buying an additional 51 shares during the last quarter. Armstrong Advisory Group Inc. acquired a new position in Seagate Technology during the fourth quarter worth approximately $28,000. Concord Wealth Partners acquired a new position in Seagate Technology during the fourth quarter worth approximately $28,000. Avion Wealth increased its position in Seagate Technology by 343.5% during the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 79 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Seagate Technology during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analysts Set New Price Targets

STX has been the subject of several research analyst reports. The Goldman Sachs Group upped their price target on shares of Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 1st. Jefferies Financial Group reaffirmed a “hold” rating on shares of Seagate Technology in a research report on Wednesday, February 4th. Sanford C. Bernstein upped their price target on shares of Seagate Technology from $620.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Finally, UBS Group upped their price target on shares of Seagate Technology from $515.00 to $545.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and an average target price of $746.63.

Seagate Technology Price Performance

Seagate Technology stock opened at $879.80 on Monday. Seagate Technology Holdings PLC has a 52-week low of $116.28 and a 52-week high of $905.39. The firm has a fifty day moving average of $612.03 and a 200-day moving average of $432.99. The firm has a market capitalization of $197.28 billion, a P/E ratio of 83.47 and a beta of 2.04. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16.

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, topping the consensus estimate of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The company had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the prior year, the business earned $1.90 earnings per share. The business’s quarterly revenue was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, analysts predict that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be given a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. Seagate Technology’s dividend payout ratio is presently 28.08%.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 30,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total value of $22,538,700.00. Following the completion of the sale, the chief executive officer owned 339,591 shares of the company’s stock, valued at $255,131,322.39. This represents a 8.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 1,902 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $770.00, for a total transaction of $1,464,540.00. Following the completion of the sale, the chief financial officer directly owned 40,945 shares of the company’s stock, valued at $31,527,650. The trade was a 4.44% decrease in their position. 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 have sold 122,437 shares of company stock valued at $78,398,375. 0.79% of the stock is owned by corporate insiders.

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.