DigitalBridge Group Inc. Trims Stock Position in Seagate Technology Holdings PLC $STX

DigitalBridge Group Inc. reduced its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 21.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 198,455 shares of the data storage provider’s stock after selling 55,325 shares during the period. Seagate Technology accounts for approximately 3.7% of DigitalBridge Group Inc.’s investment portfolio, making the stock its 6th biggest position. DigitalBridge Group Inc. owned approximately 0.09% of Seagate Technology worth $46,847,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. First Horizon Corp acquired a new stake in shares of Seagate Technology in the third quarter valued at about $33,000. Raiffeisen Bank International AG acquired a new position in shares of Seagate Technology in the third quarter worth approximately $33,000. Physician Wealth Advisors Inc. boosted its holdings in 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 acquiring an additional 45 shares during the last quarter. Palisade Asset Management LLC acquired a new stake in Seagate Technology during the 3rd quarter valued at approximately $37,000. Finally, Larson Financial Group LLC raised its holdings in Seagate Technology by 41.9% during the 3rd quarter. Larson Financial Group LLC now owns 166 shares of the data storage provider’s stock worth $39,000 after purchasing an additional 49 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Mizuho upped their price objective on shares of Seagate Technology from $440.00 to $475.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Wells Fargo & Company boosted their target price on shares of Seagate Technology from $360.00 to $450.00 and gave the company an “equal weight” rating in a report on Wednesday, January 28th. Cantor Fitzgerald upped their price target on shares of Seagate Technology from $500.00 to $650.00 and gave the company an “overweight” rating in a research report on Wednesday, February 4th. Wedbush lifted their price objective on Seagate Technology from $290.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Finally, Bank of America boosted their price objective on 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 assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $447.35.

Insider Transactions at Seagate Technology

In other news, EVP Kian Fatt Chong sold 5,846 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $416.48, for a total transaction of $2,434,742.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $384.76, for a total value of $7,695,200.00. Following the transaction, the chief executive officer directly owned 395,897 shares in the company, valued at $152,325,329.72. The trade was a 4.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 89,051 shares of company stock valued at $34,430,409. Company insiders own 0.79% of the company’s stock.

Seagate Technology Trading Up 5.6%

NASDAQ:STX opened at $421.09 on Wednesday. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $459.84. 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 stock has a market capitalization of $91.83 billion, a price-to-earnings ratio of 47.63, a PEG ratio of 0.89 and a beta of 1.61. The firm has a fifty day simple moving average of $382.23 and a two-hundred day simple moving average of $295.59.

Seagate Technology (NASDAQ:STX) last announced 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 firm 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 business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th will be issued a $0.74 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $2.96 annualized dividend and a 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.