Busey Bank Buys Shares of 1,586 Seagate Technology Holdings PLC $STX

Key Points

• Busey Bank has invested approximately $229,000 in Seagate Technology Holdings PLC by acquiring 1,586 shares during the 2nd quarter.
• Seagate Technology's shares have experienced a significant rise, with a market capitalization of $47.12 billion and a recent open price of $221.23.
• The company has declared a quarterly dividend of $0.72 per share, with an annualized dividend yield of 1.3%.

Busey Bank purchased a new position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,586 shares of the data storage provider's stock, valued at approximately $229,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameriflex Group Inc. purchased a new position in shares of Seagate Technology in the 4th quarter worth $26,000. Fourth Dimension Wealth LLC purchased a new position in shares of Seagate Technology in the 4th quarter worth $27,000. Wayfinding Financial LLC purchased a new position in shares of Seagate Technology in the 1st quarter worth $31,000. Bruce G. Allen Investments LLC boosted its stake in shares of Seagate Technology by 28.1% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 419 shares of the data storage provider's stock worth $60,000 after buying an additional 92 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in shares of 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 worth $39,000 after buying an additional 440 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Stock Performance

Shares of Seagate Technology stock traded down $2.03 during trading hours on Tuesday, hitting $227.31. The company's stock had a trading volume of 2,794,160 shares, compared to its average volume of 3,889,078. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $231.96. The business has a 50 day moving average price of $168.29 and a two-hundred day moving average price of $127.03. The company has a market cap of $48.41 billion, a PE ratio of 33.58, a PEG ratio of 1.28 and a beta of 1.53.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.40 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. The business's revenue was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, research analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology's payout ratio is presently 42.54%.

Insider Activity at Seagate Technology

In other Seagate Technology news, Director Jay L. Geldmacher sold 2,500 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $150.50, for a total transaction of $376,250.00. Following the sale, the director directly owned 352 shares of the company's stock, valued at $52,976. The trade was a 87.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William D. Mosley sold 20,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was 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. The trade was a 4.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,935 shares of company stock valued at $12,289,616 over the last ninety days. 0.79% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

STX has been the topic of a number of research reports. Mizuho raised their price target on Seagate Technology from $160.00 to $245.00 and gave the stock an "outperform" rating in a research note on Friday. Robert W. Baird lifted their target price on Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Sanford C. Bernstein assumed coverage on Seagate Technology in a research report on Tuesday, September 16th. They set an "outperform" rating and a $250.00 target price on the stock. Citigroup lifted their target price on Seagate Technology from $167.00 to $215.00 and gave the company a "buy" rating in a research report on Monday, September 8th. Finally, Wells Fargo & Company lifted their target price on Seagate Technology from $122.00 to $160.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Fifteen investment 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $183.47.

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.