Boothbay Fund Management LLC Has $8.04 Million Stock Holdings in Seagate Technology Holdings PLC $STX

Key Points

• Boothbay Fund Management LLC has reduced its holdings in Seagate Technology by 34.9%, selling 50,722 shares, leaving it with 94,638 shares valued at approximately $8,039,000.
• Seagate Technology reported a quarterly EPS of $2.59, exceeding analyst expectations, and its revenue grew 29.5% year-over-year to $2.44 billion.
• The company has announced a quarterly dividend of $0.72, indicating a dividend yield of 1.6% and a share buyback authorization of $5.00 billion to repurchase up to 21.6% of its stock.

Boothbay Fund Management LLC decreased its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 34.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 94,638 shares of the data storage provider's stock after selling 50,722 shares during the period. Boothbay Fund Management LLC's holdings in Seagate Technology were worth $8,039,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of STX. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Seagate Technology by 0.9% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 15,247 shares of the data storage provider's stock valued at $1,327,000 after acquiring an additional 134 shares during the period. QRG Capital Management Inc. raised its holdings in shares of Seagate Technology by 1.2% in the first 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 raised its holdings in shares of Seagate Technology by 0.4% in the first 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. Blair William & Co. IL raised its holdings in shares of Seagate Technology by 5.9% in the first quarter. Blair William & Co. IL now owns 2,835 shares of the data storage provider's stock valued at $241,000 after buying an additional 157 shares during the last quarter. Finally, Grove Bank & Trust raised its holdings in shares of Seagate Technology by 31.0% in the first quarter. Grove Bank & Trust now owns 786 shares of the data storage provider's stock valued at $67,000 after buying an additional 186 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Wall Street Analysts Forecast Growth

STX has been the subject of a number of research analyst reports. The Goldman Sachs Group initiated coverage on Seagate Technology in a report on Thursday, July 10th. They issued a "buy" rating and a $170.00 price target for the company. Rosenblatt Securities lifted their price target on Seagate Technology from $185.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. TD Cowen lifted their price target on Seagate Technology from $135.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Susquehanna lifted their price target on Seagate Technology from $68.00 to $80.00 and gave the company a "negative" rating in a report on Wednesday, July 30th. Finally, Wedbush reissued an "outperform" rating and set a $140.00 price objective on shares of Seagate Technology in a report on Wednesday, May 21st. Fourteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Seagate Technology has an average rating of "Moderate Buy" and a consensus target price of $154.50.

Seagate Technology Stock Performance

NASDAQ:STX traded up $4.18 on Friday, hitting $188.16. 3,760,377 shares of the stock were exchanged, compared to its average volume of 2,534,018. The stock has a market capitalization of $40.02 billion, a price-to-earnings ratio of 27.79, a P/E/G ratio of 1.16 and a beta of 1.53. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $189.23. The company's 50-day moving average price is $155.22 and its 200 day moving average price is $118.49.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $2.40 billion. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The company's quarterly revenue was up 29.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, equities research analysts predict that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The company 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 $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 30th. Seagate Technology's dividend payout ratio (DPR) is currently 42.54%.

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

Insider Activity

In related news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 478,912 shares in the company, valued at $73,632,720. This trade represents a 4.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James Ci Lee sold 1,116 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $153.36, for a total transaction of $171,149.76. Following the completion of 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 115,019 shares of company stock valued at $16,104,159. Insiders own 0.81% of the company's stock.

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.