NEOS Investment Management LLC Acquires 6,843 Shares of Seagate Technology Holdings PLC $STX

NEOS Investment Management LLC raised its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 75.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,965 shares of the data storage provider’s stock after buying an additional 6,843 shares during the period. NEOS Investment Management LLC’s holdings in Seagate Technology were worth $3,769,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Rakuten Securities Inc. boosted its holdings in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 168 shares during the period. MTM Investment Management LLC purchased a new stake in shares of Seagate Technology during the second quarter valued at approximately $29,000. First Horizon Corp bought a new position in shares of Seagate Technology in the third quarter worth approximately $33,000. Physician Wealth Advisors Inc. increased its stake in shares of Seagate Technology by 43.7% in the third quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock worth $35,000 after buying an additional 45 shares during the period. Finally, United Community Bank raised its holdings in Seagate Technology by 35.2% during the 3rd quarter. United Community Bank now owns 169 shares of the data storage provider’s stock valued at $40,000 after buying an additional 44 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Evercore raised their price target on shares of Seagate Technology from $330.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Bank of America lifted their price objective on Seagate Technology from $320.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Loop Capital boosted their target price on shares of Seagate Technology from $465.00 to $700.00 and gave the company a “buy” rating in a report on Monday, February 9th. Barclays boosted their price target on Seagate Technology from $370.00 to $425.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 28th. Finally, Benchmark upped their price target on Seagate Technology from $255.00 to $325.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $447.35.

Seagate Technology Stock Down 3.6%

STX stock opened at $408.97 on Friday. 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 Holdings PLC has a twelve month low of $63.19 and a twelve month high of $459.84. The stock has a market cap of $89.18 billion, a P/E ratio of 46.26, a PEG ratio of 0.95 and a beta of 1.62. The business’s 50-day moving average price is $345.46 and its 200-day moving average price is $264.70.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.73 billion. During the same quarter in the prior year, the business posted $2.03 EPS. Seagate Technology’s revenue for the quarter 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, equities research analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th will be issued a $0.74 dividend. 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 payout ratio is currently 33.48%.

Insiders Place Their Bets

In other news, Director Jay L. Geldmacher sold 925 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $448.02, for a total transaction of $414,418.50. Following the sale, the director directly owned 223 shares of the company’s stock, valued at $99,908.46. This represents a 80.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $429.27, for a total transaction of $8,585,400.00. Following the transaction, the chief executive officer owned 410,056 shares of the company’s stock, valued at $176,024,739.12. This trade represents a 4.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 83,955 shares of company stock worth $29,925,749. 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.