Southeast Asset Advisors LLC Takes Position in Seagate Technology Holdings PLC $STX

Key Points

• Southeast Asset Advisors LLC acquired 3,000 shares of Seagate Technology Holdings PLC for approximately $255,000 in its recent SEC filing, marking a new position in the data storage sector.
• Seagate reported $2.59 EPS for the recent quarter, surpassing analysts' expectations, with a revenue increase of 29.5% year-over-year, indicating strong financial performance.
• The company has initiated a $5 billion stock buyback program, which suggests the board believes its stock is undervalued, along with announcing a quarterly dividend of $0.72 per share.

Southeast Asset Advisors LLC purchased a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,000 shares of the data storage provider's stock, valued at approximately $255,000.

A number of other large investors have also added to or reduced their stakes in STX. Ameriflex Group Inc. purchased a new position in Seagate Technology in the fourth quarter valued at about $26,000. Elequin Capital LP bought a new position in shares of Seagate Technology during the 4th quarter valued at approximately $27,000. Fourth Dimension Wealth LLC bought a new position in shares of Seagate Technology during the 4th quarter valued at approximately $27,000. Wayfinding Financial LLC bought a new position in shares of Seagate Technology during the 1st quarter valued at approximately $31,000. Finally, Golden State Wealth Management LLC grew its position in shares of Seagate Technology by 2,200.0% during the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock valued at $39,000 after acquiring an additional 440 shares during the period. Hedge funds and other institutional investors own 92.87% of the company's stock.

Insider Activity at Seagate Technology

In other news, CFO Gianluca Romano sold 26,816 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $117.58, for a total value of $3,153,025.28. Following the transaction, the chief financial officer owned 38,082 shares of the company's stock, valued at $4,477,681.56. This represents a 41.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael R. Cannon sold 24,190 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $119.00, for a total transaction of $2,878,610.00. Following the completion of the transaction, the director directly owned 10,835 shares in the company, valued at $1,289,365. The trade was a 69.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 314,195 shares of company stock worth $40,243,793 over the last quarter. 0.81% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

STX has been the subject of a number of research reports. Bank of America increased their target price on shares of Seagate Technology from $145.00 to $165.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Morgan Stanley increased their target price on shares of Seagate Technology from $167.00 to $168.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group initiated coverage on shares of Seagate Technology in a research report on Thursday, July 10th. They set a "buy" rating and a $170.00 target price for the company. BNP Paribas Exane raised shares of Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 price target on the stock in a research report on Friday, May 16th. Finally, Cantor Fitzgerald raised shares of Seagate Technology from a "neutral" rating to an "overweight" rating and set a $175.00 price target on the stock in a research report on Wednesday, July 30th. Fourteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $154.50.

Seagate Technology Stock Up 3.1%

NASDAQ:STX traded up $5.14 during mid-day trading on Thursday, hitting $172.38. 3,078,847 shares of the stock traded hands, compared to its average volume of 3,865,391. The business's 50-day moving average price is $149.74 and its 200 day moving average price is $114.78. The company has a market cap of $36.66 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.02 and a beta of 1.50. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $173.21.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, beating the consensus estimate of $2.45 by $0.14. The company had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. Seagate Technology's revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology declared that its Board of Directors has approved a share buyback program on Thursday, May 22nd that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the data storage provider to buy up to 21.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.7%. Seagate Technology's dividend payout ratio is presently 42.54%.

About Seagate Technology

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.