Retirement Planning Co of New England Inc. Purchases New Stake in Seagate Technology Holdings PLC $STX

Key Points

• Retirement Planning Co of New England Inc. acquired 3,200 shares of Seagate Technology Holdings PLC, valued at approximately $272,000, during the 1st quarter.
• Seagate Technology reported earnings of $2.59 per share (EPS), exceeding analysts' expectations of $2.45 and showing a 29.5% increase in revenue year-over-year.
• The company has announced a $5.00 billion stock repurchase program and a quarterly dividend of $0.72 per share, reflecting confidence in its stock valuation.

Retirement Planning Co of New England Inc. purchased a new stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,200 shares of the data storage provider's stock, valued at approximately $272,000.

Other hedge funds also recently made changes to their positions in the company. Beacon Pointe Advisors LLC boosted its holdings in Seagate Technology by 10.8% in the fourth quarter. Beacon Pointe Advisors LLC now owns 7,039 shares of the data storage provider's stock valued at $608,000 after acquiring an additional 687 shares during the last quarter. AXA S.A. boosted its stake in shares of Seagate Technology by 465.4% in the 4th quarter. AXA S.A. now owns 19,150 shares of the data storage provider's stock valued at $1,653,000 after purchasing an additional 15,763 shares during the last quarter. Bayesian Capital Management LP boosted its stake in shares of Seagate Technology by 84.8% in the 4th quarter. Bayesian Capital Management LP now owns 25,693 shares of the data storage provider's stock valued at $2,218,000 after purchasing an additional 11,789 shares during the last quarter. Centiva Capital LP bought a new position in Seagate Technology during the fourth quarter worth $566,000. Finally, Cetera Investment Advisers boosted its position in Seagate Technology by 3.8% during the fourth quarter. Cetera Investment Advisers now owns 55,069 shares of the data storage provider's stock valued at $4,753,000 after acquiring an additional 2,038 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Insider Activity

In other Seagate Technology news, EVP Ban Seng Teh sold 1,724 shares of Seagate Technology stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $151.61, for a total transaction of $261,375.64. Following the transaction, the executive vice president owned 6,147 shares of the company's stock, valued at $931,946.67. This trade represents a 21.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Ci Lee sold 1,116 shares of Seagate Technology stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $153.36, for a total transaction of $171,149.76. Following the transaction, the insider directly owned 257 shares in the company, valued at approximately $39,413.52. This represents a 81.28% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,019 shares of company stock worth $16,104,159. 0.81% of the stock is owned by insiders.

Seagate Technology Stock Up 4.3%

STX stock traded up $7.66 during mid-day trading on Thursday, reaching $183.98. 5,569,842 shares of the company traded hands, compared to its average volume of 3,864,631. The firm's 50 day moving average price is $153.42 and its 200 day moving average price is $117.23. The stock has a market cap of $39.13 billion, a price-to-earnings ratio of 27.18, a P/E/G ratio of 1.03 and a beta of 1.53. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $184.11.

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

Seagate Technology declared that its board has approved a stock buyback program on Thursday, May 22nd that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the data storage provider to reacquire up to 21.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology's payout ratio is currently 42.54%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on STX shares. Benchmark lifted their price objective on Seagate Technology from $128.00 to $165.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. BNP Paribas raised Seagate Technology from a "strong sell" rating to a "hold" rating in a research report on Friday, May 16th. Citigroup lifted their price objective on Seagate Technology from $140.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Wall Street Zen lowered Seagate Technology from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, UBS Group boosted their target price on shares of Seagate Technology from $85.00 to $155.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Fourteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Seagate Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $154.50.

Seagate Technology Profile

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.