Syon Capital LLC Acquires Shares of 3,169 Seagate Technology Holdings PLC $STX

Syon Capital LLC bought a new stake in Seagate Technology Holdings PLC (NASDAQ:STX) in the third quarter, Holdings Channel reports. The institutional investor bought 3,169 shares of the data storage provider’s stock, valued at approximately $748,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. raised its stake 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 last quarter. MTM Investment Management LLC purchased a new position in shares of Seagate Technology in the 2nd quarter valued at approximately $29,000. First Horizon Corp acquired a new position in shares of Seagate Technology in the third quarter valued at approximately $33,000. Physician Wealth Advisors Inc. increased its holdings 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 valued at $35,000 after purchasing an additional 45 shares during the period. Finally, United Community Bank lifted its holdings in shares of Seagate Technology by 35.2% during the third quarter. United Community Bank now owns 169 shares of the data storage provider’s stock worth $40,000 after purchasing an additional 44 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $411.11 on Friday. The firm has a market capitalization of $89.65 billion, a price-to-earnings ratio of 46.51, a price-to-earnings-growth ratio of 0.91 and a beta of 1.62. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72. The business’s 50 day simple moving average is $347.93 and its 200-day simple moving average is $266.48. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $459.84.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data 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. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.73 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.Seagate Technology’s revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, equities analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be paid a $0.74 dividend. 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 dividend payout ratio is presently 33.48%.

Insider Activity

In other news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $285.56, for a total transaction of $5,711,200.00. Following the completion of the transaction, the chief executive officer directly owned 429,895 shares of the company’s stock, valued at $122,760,816.20. This trade represents a 4.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total value of $204,682.50. Following the completion of the sale, the director directly owned 5,601 shares in the company, valued at approximately $1,528,568.91. The trade was a 11.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 83,955 shares of company stock worth $29,925,749 in the last three months. Company insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on STX shares. Wells Fargo & Company boosted their price objective on shares of Seagate Technology from $360.00 to $450.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 28th. Cantor Fitzgerald increased their price target 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. Citigroup lifted their price objective on Seagate Technology from $460.00 to $480.00 and gave the company a “buy” rating in a report on Friday, February 6th. BNP Paribas Exane increased their target price on Seagate Technology from $430.00 to $530.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Finally, Benchmark lifted their price target on Seagate Technology from $255.00 to $325.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and a consensus price target of $447.35.

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.