Tribune Investment Group LP Takes Position in Seagate Technology Holdings PLC $STX

Tribune Investment Group LP purchased a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,590 shares of the data storage provider’s stock, valued at approximately $4,429,000. Seagate Technology comprises about 1.8% of Tribune Investment Group LP’s holdings, making the stock its 17th largest holding.

A number of other large investors also recently made changes to their positions in the stock. Integrated Wealth Concepts LLC grew its stake in shares of Seagate Technology by 168.0% during the first quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock worth $610,000 after purchasing an additional 4,499 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Seagate Technology during the 2nd quarter worth about $262,000. Cerity Partners LLC increased its stake in shares of Seagate Technology by 25.8% in the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock valued at $5,294,000 after acquiring an additional 7,517 shares during the last quarter. Sei Investments Co. raised its position in shares of Seagate Technology by 64.8% in the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock valued at $1,233,000 after acquiring an additional 3,358 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Seagate Technology by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider’s stock worth $18,458,000 after acquiring an additional 462 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Ratings Changes

STX has been the subject of several recent analyst reports. Melius Research initiated coverage on shares of Seagate Technology in a research note on Monday, June 29th. They issued a “buy” rating and a $1,600.00 target price for the company. Morgan Stanley boosted their price target on shares of Seagate Technology from $1,035.00 to $1,187.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a report on Wednesday, June 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $1,300.00 price objective on shares of Seagate Technology in a research report on Wednesday, July 29th. Finally, Fox Advisors downgraded Seagate Technology from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $986.00.

Seagate Technology Stock Performance

Shares of STX opened at $850.00 on Monday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. Seagate Technology Holdings PLC has a twelve month low of $154.22 and a twelve month high of $1,145.00. The firm’s 50 day moving average price is $893.23 and its two-hundred day moving average price is $683.35. The firm has a market cap of $192.65 billion, a P/E ratio of 61.24 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the firm earned $2.59 earnings per share. The firm’s revenue was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, analysts forecast that Seagate Technology Holdings PLC will post 34.42 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Thursday, September 24th. Seagate Technology’s dividend payout ratio is 21.33%.

Insiders Place Their Bets

In other news, CFO Gianluca Romano sold 14,091 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $811.25, for a total transaction of $11,431,323.75. Following the completion of the transaction, the chief financial officer directly owned 21,543 shares of the company’s stock, valued at $17,476,758.75. This represents a 39.54% decrease in their ownership of the stock. The transaction was disclosed in a 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, EVP Ban Seng Teh sold 7,361 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $920.80, for a total value of $6,778,008.80. Following the transaction, the executive vice president directly owned 2,931 shares of the company’s stock, valued at $2,698,864.80. This represents a 71.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 133,650 shares of company stock worth $116,077,574. Corporate insiders own 0.79% of the company’s stock.

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.