Egerton Capital UK LLP Sells 458,451 Shares of Seagate Technology Holdings PLC $STX

Egerton Capital UK LLP decreased its position in Seagate Technology Holdings PLC (NASDAQ:STX) by 22.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,592,983 shares of the data storage provider’s stock after selling 458,451 shares during the period. Seagate Technology comprises 4.0% of Egerton Capital UK LLP’s portfolio, making the stock its 12th biggest position. Egerton Capital UK LLP’s holdings in Seagate Technology were worth $376,040,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. WCM Investment Management LLC bought a new stake in shares of Seagate Technology in the third quarter worth $1,187,621,000. Norges Bank bought a new position in Seagate Technology in the second quarter valued at $197,027,000. Boston Partners acquired a new stake in Seagate Technology in the 2nd quarter valued at $193,500,000. Soroban Capital Partners LP lifted its position in Seagate Technology by 1,468.1% during the 2nd 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 in the last quarter. Finally, Trivest Advisors Ltd acquired a new position in shares of Seagate Technology during the 3rd quarter worth about $170,435,000. 92.87% of the stock is owned by institutional investors.

Insider Activity at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 20,195 shares of the company’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $442.29, for a total value of $8,932,046.55. Following the transaction, the executive vice president directly owned 3,092 shares of the company’s stock, valued at $1,367,560.68. This represents a 86.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $285.56, for a total value of $5,711,200.00. Following the sale, the chief executive officer directly owned 429,895 shares of the company’s stock, valued at $122,760,816.20. This represents a 4.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 89,801 shares of company stock valued at $32,360,491 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on STX. Sanford C. Bernstein lifted their target price on Seagate Technology from $275.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. BNP Paribas Exane raised their price target on Seagate Technology from $430.00 to $530.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Robert W. Baird upped their price objective on Seagate Technology from $270.00 to $505.00 and gave the stock an “outperform” rating in a research note on Thursday, January 29th. Barclays raised their target price on shares of Seagate Technology from $370.00 to $425.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 28th. Finally, Evercore upped their price target on shares of Seagate Technology from $330.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Seagate Technology has a consensus rating of “Moderate Buy” and a consensus target price of $447.35.

Seagate Technology Trading Down 0.4%

Shares of Seagate Technology stock opened at $407.84 on Friday. 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 has a fifty day simple moving average of $359.99 and a two-hundred day simple moving average of $275.46. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $459.84. The company has a market capitalization of $88.94 billion, a price-to-earnings ratio of 46.14, a P/E/G ratio of 0.92 and a beta of 1.62.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The company’s revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Research analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be given a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $2.96 annualized dividend and a dividend yield of 0.7%. Seagate Technology’s dividend payout ratio is presently 33.48%.

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.