Sanders Capital LLC Sells 541,040 Shares of Seagate Technology Holdings PLC $STX

Sanders Capital LLC lessened its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 3.0% in the third quarter, Holdings Channel.com reports. The firm owned 17,541,266 shares of the data storage provider’s stock after selling 541,040 shares during the period. Seagate Technology comprises 5.1% of Sanders Capital LLC’s portfolio, making the stock its 6th largest holding. Sanders Capital LLC owned approximately 0.08% of Seagate Technology worth $4,140,791,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC raised its position in shares of Seagate Technology by 168.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock valued at $610,000 after purchasing an additional 4,499 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Seagate Technology during the second quarter worth approximately $262,000. Penserra Capital Management LLC grew its position in shares of Seagate Technology by 12.7% during the second quarter. Penserra Capital Management LLC now owns 1,086 shares of the data storage provider’s stock worth $156,000 after buying an additional 122 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Seagate Technology in the second quarter worth $4,014,000. Finally, Vise Technologies Inc. bought a new stake in shares of Seagate Technology in the second quarter worth $445,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on STX. Loop Capital increased their price objective on shares of Seagate Technology from $465.00 to $700.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Evercore boosted their target price 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. Argus upped their target price on shares of Seagate Technology from $300.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Barclays increased their price target on shares of 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, BNP Paribas Exane lifted their price target on Seagate Technology from $430.00 to $530.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $447.35.

Seagate Technology Stock Performance

Seagate Technology stock opened at $383.71 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. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $459.84. The company has a fifty day moving average price of $378.24 and a two-hundred day moving average price of $290.46. The company has a market cap of $83.68 billion, a PE ratio of 43.41, a P/E/G ratio of 0.83 and a beta of 1.61.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same period in the prior year, the company earned $2.03 earnings per share. 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. Research analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

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 dividend of $0.74 per share. The ex-dividend date is Wednesday, March 25th. This represents a $2.96 annualized dividend and a yield of 0.8%. Seagate Technology’s dividend payout ratio is 33.48%.

Insider Transactions at Seagate Technology

In other news, Director Jay L. Geldmacher sold 925 shares of the 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 in the company, valued at approximately $99,908.46. This represents a 80.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Ci Lee sold 673 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $348.85, for a total value of $234,776.05. Following the sale, the executive vice president owned 257 shares in the company, valued at $89,654.45. The trade was a 72.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 89,051 shares of company stock valued at $34,430,409 over the last ninety days. Insiders own 0.79% of the company’s stock.

Seagate Technology 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.