HighTower Advisors LLC Sells 3,156 Shares of Seagate Technology Holdings PLC $STX

HighTower Advisors LLC lessened its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 4.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,916 shares of the data storage provider’s stock after selling 3,156 shares during the quarter. HighTower Advisors LLC’s holdings in Seagate Technology were worth $17,448,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on STX shares. The Goldman Sachs Group lifted their target price on Seagate Technology from $310.00 to $385.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. China Renaissance raised their price target on shares of Seagate Technology from $325.00 to $452.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. TD Cowen boosted their price objective on shares of Seagate Technology from $340.00 to $500.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Jefferies Financial Group restated a “hold” rating on shares of Seagate Technology in a report on Wednesday, February 4th. Finally, Bank of America lifted their price target on shares of Seagate Technology from $320.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $447.35.

Insider Activity

In related news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $272.91, for a total transaction of $204,682.50. Following the transaction, the director directly owned 5,601 shares of the company’s stock, valued at approximately $1,528,568.91. The trade was a 11.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay L. Geldmacher sold 925 shares of the stock in a transaction 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 completion of the sale, the director owned 223 shares in the company, valued at approximately $99,908.46. This trade represents a 80.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 83,955 shares of company stock valued at $29,925,749. 0.79% of the stock is owned by insiders.

Seagate Technology Price Performance

NASDAQ:STX opened at $408.97 on Friday. The stock has a market capitalization of $89.18 billion, a PE ratio of 46.26, a P/E/G ratio of 0.95 and a beta of 1.62. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $459.84. The firm has a fifty day simple moving average of $345.46 and a 200 day simple moving average of $264.70. The company has a current ratio of 1.12, a quick ratio of 0.72 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 earnings per share (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 firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period in the prior year, the firm posted $2.03 earnings per share. 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 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th will be given 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 of this dividend is Wednesday, March 25th. Seagate Technology’s payout ratio is 33.48%.

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.