Seagate Technology Holdings PLC $STX Shares Bought by Sanders Capital LLC

Sanders Capital LLC boosted its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 0.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,490,299 shares of the data storage provider’s stock after acquiring an additional 3,080 shares during the period. Seagate Technology accounts for approximately 3.2% of Sanders Capital LLC’s holdings, making the stock its 9th biggest holding. Sanders Capital LLC’s holdings in Seagate Technology were worth $3,219,242,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Seagate Technology by 2,655.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock valued at $2,329,641,000 after purchasing an additional 2,326,538 shares in the last quarter. National Pension Service increased its position in shares of Seagate Technology by 0.8% during the second quarter. National Pension Service now owns 834,705 shares of the data storage provider’s stock valued at $805,490,000 after buying an additional 6,944 shares during the period. Janus Henderson Group PLC raised its stake in Seagate Technology by 3,872.1% in the first quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock worth $378,985,000 after buying an additional 943,170 shares in the last quarter. Amundi raised its stake in Seagate Technology by 32.2% in the first quarter. Amundi now owns 965,565 shares of the data storage provider’s stock worth $378,267,000 after buying an additional 235,359 shares in the last quarter. Finally, Swiss National Bank raised its stake in Seagate Technology by 9.6% in the first quarter. Swiss National Bank now owns 639,400 shares of the data storage provider’s stock worth $250,491,000 after buying an additional 55,900 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP James Lee sold 547 shares of Seagate Technology stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $642.14, for a total transaction of $351,250.58. Following the completion of the transaction, the executive vice president owned 1,037 shares in the company, valued at approximately $665,899.18. The trade was a 34.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Morris sold 2,675 shares of Seagate Technology stock in a transaction on Friday, October 30th. The shares were sold at an average price of $650.15, for a total value of $1,739,151.25. Following the transaction, the executive vice president owned 20,933 shares of the company’s stock, valued at $13,609,589.95. The trade was a 11.33% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 447,108 shares of company stock worth $356,049,743. Company insiders own 0.51% of the company’s stock.

Seagate Technology Stock Down 1.2%

NASDAQ STX traded down $5.54 during trading hours on Friday, reaching $460.99. 8,272,008 shares of the company’s stock traded hands, compared to its average volume of 5,627,659. Seagate Technology Holdings PLC has a 52-week low of $228.61 and a 52-week high of $1,145.00. The firm has a market cap of $105.82 billion, a PE ratio of 24.21 and a beta of 2.16. The firm has a 50-day simple moving average of $769.59 and a 200 day simple moving average of $693.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.82 and a quick ratio of 1.25.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, October 27th. The data storage provider reported $7.68 EPS for the quarter, topping the consensus estimate of $7.44 by $0.24. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.15 billion. Seagate Technology had a net margin of 31.86% and a return on equity of 252.47%. Seagate Technology’s quarterly revenue was up 61.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.61 earnings per share. Sell-side analysts anticipate that Seagate Technology Holdings PLC will post 37.96 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Wednesday, December 23rd will be given a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, December 23rd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.7%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.74. Seagate Technology’s payout ratio is presently 15.55%.

Seagate Technology News Summary

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Recent fiscal first-quarter results beat estimates, with revenue of $4.23 billion and EPS of $7.72. Seagate also guided to about $4.8 billion in fiscal second-quarter revenue, supporting the growth case. Earnings Beat Might Change The Case For Seagate Stock
• Positive Sentiment: Growth-focused commentary argues Seagate has attributes that could support above-market performance, adding to the bullish earnings narrative. The articles do not specify additional catalysts. 3 Reasons Growth Investors Will Love Seagate
• Negative Sentiment: A report attributed a sharp decline in Seagate shares to insider selling, which can raise concerns about insiders’ confidence, even though selling alone does not establish their outlook. Seagate Technology Stock Falls on Insider Selling
• Negative Sentiment: Seagate and other AI-linked stocks faced pressure amid a wider AI-trade selloff and calls from a lawmaker to pause advanced AI development. That uncertainty may temper enthusiasm around data-storage demand tied to AI investment. Seagate Sinks as Lawmaker Urges a Pause on Advanced AI Development

Analyst Ratings Changes

STX has been the topic of a number of research analyst reports. Sanford C. Bernstein reiterated an “outperform” rating and set a $1,350.00 target price on shares of Seagate Technology in a report on Wednesday, July 29th. JPMorgan Chase & Co. raised their target price on Seagate Technology from $1,095.00 to $1,240.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. TD Cowen lowered their target price on Seagate Technology from $1,000.00 to $900.00 and set a “buy” rating for the company in a research note on Wednesday, October 28th. Zacks Research lowered Seagate Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Finally, Susquehanna reduced their price target on Seagate Technology from $925.00 to $765.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 28th. Twenty-three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and an average price target of $1,000.88.

Seagate Technology Company Profile

Seagate Technology develops and supplies data-storage products and solutions for businesses and consumers. Its portfolio includes hard disk drives (HDDs), solid-state drives, and storage systems designed for applications ranging from personal computing to large-scale data centers.

The company’s products support cloud and enterprise storage, network-attached storage, video surveillance, gaming, and other uses that require digital data to be stored and accessed. Seagate also offers data-management and storage services through its Lyve platform.

Founded in 1979, Seagate has a long history in the hard disk drive industry.