ARS Investment Partners LLC Sells 1,695 Shares of Seagate Technology Holdings PLC $STX

Key Points

• ARS Investment Partners LLC reduced its stake in Seagate Technology Holdings PLC by 2.3%, holding 72,980 shares valued at approximately $6.30 million at the end of the most recent reporting period.
• Seagate Technology reported a quarterly EPS of $2.59, exceeding estimates, with revenue increasing by 29.5% year-over-year.
• The company declared a quarterly dividend of $0.72 per share, representing an annual yield of 1.8%, alongside a share buyback plan worth $5.00 billion.

ARS Investment Partners LLC decreased its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,980 shares of the data storage provider's stock after selling 1,695 shares during the period. ARS Investment Partners LLC's holdings in Seagate Technology were worth $6,299,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new position in Seagate Technology in the 4th quarter valued at approximately $26,000. Elequin Capital LP acquired a new position in Seagate Technology in the 4th quarter valued at approximately $27,000. Fourth Dimension Wealth LLC acquired a new position in Seagate Technology in the 4th quarter valued at approximately $27,000. Wayfinding Financial LLC acquired a new position in Seagate Technology in the 1st quarter valued at approximately $31,000. Finally, Golden State Wealth Management LLC raised its holdings in Seagate Technology by 2,200.0% in 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 in the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Analysts Set New Price Targets

STX has been the subject of several recent research reports. Wall Street Zen cut Seagate Technology from a "buy" rating to a "hold" rating in a report on Friday, May 30th. BNP Paribas Exane raised Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 target price for the company in a report on Friday, May 16th. Benchmark increased their target price on Seagate Technology from $128.00 to $165.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Wells Fargo & Company increased their target price on Seagate Technology from $122.00 to $160.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Finally, Barclays increased their target price on Seagate Technology from $90.00 to $125.00 and gave the stock an "equal weight" rating in a 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 given a Sell rating to the stock. According to data from MarketBeat, Seagate Technology currently has an average rating of "Moderate Buy" and an average price target of $151.44.

Seagate Technology Trading Up 3.0%

NASDAQ STX traded up $4.61 during trading hours on Friday, reaching $159.21. 1,920,032 shares of the company's stock were exchanged, compared to its average volume of 3,496,670. The stock has a market cap of $33.86 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 0.95 and a beta of 1.50. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $160.57. The firm has a fifty day moving average of $147.68 and a 200-day moving average of $113.34.

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

Seagate Technology Announces Dividend

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

Seagate Technology declared that its Board of Directors has approved a share buyback 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 purchase up to 21.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other Seagate Technology news, EVP Ban Seng Teh sold 1,724 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $151.61, for a total value of $261,375.64. Following the transaction, the executive vice president directly owned 6,147 shares in the company, valued at approximately $931,946.67. This trade represents a 21.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $153.75, for a total value of $3,075,000.00. Following the completion of the transaction, the chief executive officer owned 478,912 shares in the company, valued at $73,632,720. The trade was a 4.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 343,414 shares of company stock valued at $43,661,770 in the last 90 days. Insiders own 0.81% of the company's stock.

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.