Illinois Municipal Retirement Fund Boosts Stake in Seagate Technology Holdings PLC $STX

Illinois Municipal Retirement Fund increased its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 109.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,611 shares of the data storage provider’s stock after acquiring an additional 5,020 shares during the period. Illinois Municipal Retirement Fund’s holdings in Seagate Technology were worth $2,269,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of STX. Wedbush Securities Inc. raised its stake in shares of Seagate Technology by 6.8% during the 3rd quarter. Wedbush Securities Inc. now owns 4,338 shares of the data storage provider’s stock worth $1,024,000 after buying an additional 275 shares during the period. Savvy Advisors Inc. purchased a new stake in Seagate Technology in the 3rd quarter worth $306,000. Cibc World Market Inc. increased its holdings in Seagate Technology by 4.1% in the 3rd quarter. Cibc World Market Inc. now owns 59,458 shares of the data storage provider’s stock worth $14,036,000 after acquiring an additional 2,338 shares in the last quarter. Caprock Group LLC acquired a new position in Seagate Technology during the third quarter worth $3,439,000. Finally, Vision Financial Markets LLC lifted its holdings in Seagate Technology by 341.7% during the third quarter. Vision Financial Markets LLC now owns 5,300 shares of the data storage provider’s stock valued at $1,251,000 after purchasing an additional 4,100 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 20,195 shares of Seagate Technology stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $442.29, for a total value of $8,932,046.55. Following the sale, the executive vice president owned 3,092 shares in the company, valued at $1,367,560.68. The trade was a 86.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $272.91, for a total value of $204,682.50. Following the transaction, the director owned 5,601 shares of the company’s stock, valued at approximately $1,528,568.91. This represents a 11.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 83,955 shares of company stock worth $29,925,749. Insiders own 0.79% of the company’s stock.

Seagate Technology Stock Down 1.2%

Shares of NASDAQ:STX opened at $425.99 on Tuesday. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $459.84. The stock has a market cap of $92.90 billion, a P/E ratio of 48.19, a PEG ratio of 0.95 and a beta of 1.62. The business has a fifty day moving average of $338.27 and a two-hundred day moving average of $260.72. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results 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 analyst estimates of $2.73 billion. During the same quarter in the previous year, the firm earned $2.03 EPS. The company’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. On average, research analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $2.96 annualized dividend and a dividend yield of 0.7%. Seagate Technology’s dividend payout ratio is 33.48%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on STX. Wells Fargo & Company boosted their target price on shares of Seagate Technology from $360.00 to $450.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 28th. Rosenblatt Securities boosted their price objective on Seagate Technology from $370.00 to $500.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Fox Advisors increased their target price on Seagate Technology from $245.00 to $270.00 in a report on Wednesday, October 29th. The Goldman Sachs Group lifted their price target on Seagate Technology from $310.00 to $385.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Finally, Susquehanna raised Seagate Technology from a “negative” rating to a “neutral” rating and increased their price objective for the company from $150.00 to $280.00 in a research note on Friday, January 16th. Eighteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $444.09.

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.