APG Asset Management N.V. Cuts Position in Seagate Technology Holdings PLC $STX

Key Points

• APG Asset Management N.V. reduced its stake in Seagate Technology Holdings PLC by 4.5%, now owning 120,203 shares valued at approximately $9.45 million.
• Several large investors, including Johnson Financial Group and QRG Capital Management, increased their positions in Seagate during the same quarter, indicating diverse investor sentiment.
• Seagate recently announced a quarterly dividend of $0.72 per share, to be paid on October 9th, reflecting a stable dividend payout ratio of 42.54%.

APG Asset Management N.V. trimmed its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 4.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,203 shares of the data storage provider's stock after selling 5,697 shares during the quarter. APG Asset Management N.V. owned 0.06% of Seagate Technology worth $9,453,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Johnson Financial Group Inc. boosted its position in Seagate Technology by 22.7% in the 4th quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider's stock valued at $52,000 after buying an additional 112 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Seagate Technology by 0.9% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 15,247 shares of the data storage provider's stock valued at $1,327,000 after buying an additional 134 shares during the last quarter. QRG Capital Management Inc. boosted its position in Seagate Technology by 1.2% in the 1st quarter. QRG Capital Management Inc. now owns 10,876 shares of the data storage provider's stock valued at $924,000 after buying an additional 134 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Seagate Technology by 0.4% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 40,449 shares of the data storage provider's stock valued at $3,436,000 after buying an additional 144 shares during the last quarter. Finally, Prosperity Consulting Group LLC boosted its position in Seagate Technology by 4.5% in the 4th quarter. Prosperity Consulting Group LLC now owns 3,459 shares of the data storage provider's stock valued at $299,000 after buying an additional 150 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Seagate Technology

In related news, insider James Ci Lee sold 1,116 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $153.36, for a total transaction of $171,149.76. Following the sale, the insider owned 257 shares in the company, valued at $39,413.52. This represents a 81.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ban Seng Teh sold 1,724 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $151.61, for a total transaction of $261,375.64. Following the sale, the executive vice president owned 6,147 shares in the company, valued at approximately $931,946.67. This trade represents a 21.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 339,213 shares of company stock worth $43,178,655 in the last ninety days. Insiders own 0.81% of the company's stock.

Analyst Ratings Changes

STX has been the subject of a number of analyst reports. BNP Paribas raised shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a research report on Friday, May 16th. Citigroup upped their target price on shares of Seagate Technology from $140.00 to $170.00 and gave the company a "buy" rating in a research note on Friday, July 11th. UBS Group upped their target price on shares of Seagate Technology from $85.00 to $155.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. The Goldman Sachs Group started coverage on shares of Seagate Technology in a research note on Thursday, July 10th. They issued a "buy" rating and a $170.00 target price on the stock. Finally, Wall Street Zen lowered shares of Seagate Technology from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Fourteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $151.44.

Seagate Technology Stock Up 3.0%

STX opened at $164.00 on Tuesday. The firm has a market cap of $34.88 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 0.98 and a beta of 1.50. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $165.28. The company's 50-day moving average price is $148.34 and its 200 day moving average price is $114.06.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.14. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Research analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 22nd that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the data storage provider to reacquire up to 21.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.72 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.88 annualized dividend and a yield of 1.8%. Seagate Technology's dividend payout ratio is 42.54%.

Seagate Technology Company 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.

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