Counterpoint Mutual Funds LLC Invests $434,000 in Seagate Technology Holdings PLC $STX

Key Points

• Counterpoint Mutual Funds LLC invested approximately $434,000 in Seagate Technology during the 2nd quarter, acquiring 3,004 shares, reflecting growing institutional interest in the data storage provider.
• Seagate Technology reported strong quarterly earnings, with $2.59 EPS, surpassing analysts' expectations and showing a 29.5% year-over-year revenue increase to $2.44 billion.
• The company announced a quarterly dividend of $0.72, with shareholders to be paid on October 9th, indicating a yield of 1.3% and a payout ratio of 42.54%.

Counterpoint Mutual Funds LLC acquired a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 3,004 shares of the data storage provider's stock, valued at approximately $434,000.

A number of other institutional investors have also bought and sold shares of the business. Waverly Advisors LLC acquired a new stake in shares of Seagate Technology in the fourth quarter valued at approximately $226,000. Sunbelt Securities Inc. grew its holdings in Seagate Technology by 66.4% in the 4th quarter. Sunbelt Securities Inc. now owns 1,253 shares of the data storage provider's stock valued at $108,000 after buying an additional 500 shares in the last quarter. Forum Financial Management LP grew its holdings in Seagate Technology by 35.9% in the 4th quarter. Forum Financial Management LP now owns 4,222 shares of the data storage provider's stock valued at $364,000 after buying an additional 1,115 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Seagate Technology by 10.5% in the 4th quarter. Mackenzie Financial Corp now owns 19,770 shares of the data storage provider's stock worth $1,706,000 after acquiring an additional 1,877 shares during the last quarter. Finally, Ascent Group LLC raised its holdings in shares of Seagate Technology by 4.2% during the 4th quarter. Ascent Group LLC now owns 11,947 shares of the data storage provider's stock worth $1,031,000 after acquiring an additional 477 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on STX shares. Morgan Stanley upped their price objective on shares of Seagate Technology from $167.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Rosenblatt Securities increased their price target on shares of Seagate Technology from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Wall Street Zen downgraded shares of Seagate Technology from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Citigroup upped their price objective on Seagate Technology from $167.00 to $215.00 and gave the company a "buy" rating in a report on Monday, September 8th. Finally, Bank of America increased their price objective on Seagate Technology from $170.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Fifteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Seagate Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $183.47.

Seagate Technology Stock Performance

STX stock opened at $228.13 on Wednesday. The company's 50 day moving average price is $169.87 and its 200 day moving average price is $127.73. The firm has a market capitalization of $48.58 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 1.32 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 $231.96.

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

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be paid a $0.72 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.88 dividend on an annualized basis and a yield of 1.3%. Seagate Technology's dividend payout ratio (DPR) is currently 42.54%.

Insider Activity at Seagate Technology

In other news, EVP Ban Seng Teh sold 3,732 shares of the company's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $193.30, for a total transaction of $721,395.60. Following the completion of the transaction, the executive vice president directly owned 4,172 shares of the company's stock, valued at approximately $806,447.60. This represents a 47.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jay L. Geldmacher sold 2,500 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $150.50, for a total value of $376,250.00. Following the completion of the transaction, the director owned 352 shares in the company, valued at approximately $52,976. The trade was a 87.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,935 shares of company stock worth $12,289,616 over the last three months. Company insiders own 0.79% 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.

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