HighVista Strategies LLC Sells 15,202 Shares of Seagate Technology Holdings PLC $STX

HighVista Strategies LLC decreased its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 68.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,898 shares of the data storage provider’s stock after selling 15,202 shares during the period. HighVista Strategies LLC’s holdings in Seagate Technology were worth $1,628,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Hilltop Holdings Inc. increased its stake in Seagate Technology by 8.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 1,951 shares of the data storage provider’s stock worth $460,000 after buying an additional 149 shares during the period. Fred Alger Management LLC bought a new position in Seagate Technology in the 3rd quarter worth about $9,827,000. Focus Partners Wealth increased its position in shares of Seagate Technology by 1,923.8% during the third quarter. Focus Partners Wealth now owns 194,204 shares of the data storage provider’s stock worth $45,845,000 after acquiring an additional 184,608 shares during the period. Elevation Point Wealth Partners LLC raised its stake in shares of Seagate Technology by 30.1% during the third quarter. Elevation Point Wealth Partners LLC now owns 1,371 shares of the data storage provider’s stock valued at $325,000 after acquiring an additional 317 shares in the last quarter. Finally, Eminence Capital LP bought a new stake in shares of Seagate Technology during the third quarter valued at approximately $9,169,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Performance

Shares of STX opened at $383.71 on Monday. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63. The firm has a market cap of $83.68 billion, a PE ratio of 43.41, a P/E/G ratio of 0.85 and a beta of 1.61. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $459.84. The stock has a fifty day moving average price of $378.24 and a 200-day moving average price of $292.20.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company 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 company posted $2.03 EPS. The firm’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. Equities research analysts predict that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, March 25th. Seagate Technology’s dividend payout ratio (DPR) is presently 33.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on STX shares. Citigroup upped their target price on Seagate Technology from $460.00 to $480.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Wedbush increased their target price on shares of Seagate Technology from $290.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Argus boosted their price target on shares of Seagate Technology from $300.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Bank of America upped their price target on shares of Seagate Technology from $320.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Finally, KeyCorp set a $500.00 price objective on shares of Seagate Technology in a research note on Wednesday, January 28th. 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 stock. According to MarketBeat.com, Seagate Technology has an average rating of “Moderate Buy” and a consensus price target of $447.35.

Insider Buying and Selling

In related news, EVP Ban Seng Teh sold 20,195 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president owned 3,092 shares in the company, valued at $1,367,560.68. This represents a 86.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jay L. Geldmacher sold 925 shares of the firm’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 transaction, the director directly owned 223 shares of the company’s stock, valued at $99,908.46. This represents a 80.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 89,051 shares of company stock worth $34,430,409 over the last ninety days. Company insiders own 0.79% of the company’s stock.

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.