Seagate Technology Holdings PLC $STX Stock Position Trimmed by BTC Capital Management Inc.

BTC Capital Management Inc. decreased its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 14.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,396 shares of the data storage provider’s stock after selling 4,702 shares during the quarter. BTC Capital Management Inc.’s holdings in Seagate Technology were worth $6,467,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Seagate Technology by 5.0% during the second quarter. State Street Corp now owns 9,001,365 shares of the data storage provider’s stock worth $1,305,499,000 after purchasing an additional 432,455 shares during the period. WCM Investment Management LLC acquired a new position in Seagate Technology in the third quarter worth approximately $1,187,621,000. Geode Capital Management LLC raised its holdings in shares of Seagate Technology by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 4,567,181 shares of the data storage provider’s stock valued at $656,066,000 after purchasing an additional 85,660 shares in the last quarter. Soroban Capital Partners LP lifted its position in shares of Seagate Technology by 1,468.1% in the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after buying an additional 1,327,197 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Seagate Technology by 1.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,386,524 shares of the data storage provider’s stock valued at $200,117,000 after purchasing an additional 20,618 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Insider Activity

In related news, Director Jay L. Geldmacher sold 925 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $448.02, for a total value of $414,418.50. Following the transaction, the director owned 223 shares of the company’s stock, valued at approximately $99,908.46. This trade represents a 80.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ban Seng Teh sold 20,195 shares of Seagate Technology stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $442.29, for a total value of $8,932,046.55. Following the sale, the executive vice president directly owned 3,092 shares in the company, valued at $1,367,560.68. This trade represents a 86.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 83,955 shares of company stock worth $29,925,749. 0.79% of the stock is owned by company insiders.

Seagate Technology Stock Performance

NASDAQ STX opened at $425.99 on Friday. The firm’s 50 day simple moving average is $335.46 and its 200 day simple moving average is $257.32. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $459.84. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63. The firm has a market capitalization of $92.90 billion, a price-to-earnings ratio of 48.19, a P/E/G ratio of 0.96 and a beta of 1.62.

Seagate Technology (NASDAQ:STX) last posted its 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 net margin of 19.59% and a negative return on equity of 936.38%. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.73 billion. During the same period last year, the company earned $2.03 EPS. The firm’s 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. As a group, research analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently commented on STX. Jefferies Financial Group reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, February 4th. Rosenblatt Securities lifted their price target on shares of Seagate Technology from $370.00 to $500.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Sanford C. Bernstein increased their target price on Seagate Technology from $275.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Zacks Research cut shares of Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Cantor Fitzgerald lifted 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. Eighteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $444.09.

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.