Deroy & Devereaux Private Investment Counsel Inc. Makes New Investment in Seagate Technology Holdings PLC $STX

Key Points

• Deroy & Devereaux Private Investment Counsel Inc. invested approximately $17.8 million in Seagate Technology, acquiring 123,286 shares of the company during the second quarter.
• Seagate Technology reported earnings of $2.59 per share for the last quarter, exceeding the consensus estimate and marking a 29.5% revenue increase year-over-year.
• A quarterly dividend of $0.72 per share was recently declared, representing an annualized yield of 1.4% with a payout ratio of 42.54%.

Deroy & Devereaux Private Investment Counsel Inc. bought a new position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 123,286 shares of the data storage provider's stock, valued at approximately $17,794,000. Deroy & Devereaux Private Investment Counsel Inc. owned about 0.06% of Seagate Technology as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Personal CFO Solutions LLC purchased a new position in Seagate Technology in the 1st quarter worth about $223,000. Amalgamated Bank raised its position in Seagate Technology by 0.8% in the 1st quarter. Amalgamated Bank now owns 29,964 shares of the data storage provider's stock worth $2,545,000 after buying an additional 243 shares during the last quarter. Retirement Planning Co of New England Inc. purchased a new position in Seagate Technology in the 1st quarter worth about $272,000. Alps Advisors Inc. increased its position in shares of Seagate Technology by 10.2% during the 1st quarter. Alps Advisors Inc. now owns 278,831 shares of the data storage provider's stock valued at $23,687,000 after purchasing an additional 25,817 shares during the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH purchased a new stake in shares of Seagate Technology during the 2nd quarter valued at about $322,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Seagate Technology Trading Down 3.6%

Seagate Technology stock opened at $211.63 on Wednesday. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $264.83. The firm has a market capitalization of $45.07 billion, a price-to-earnings ratio of 31.26, a P/E/G ratio of 0.98 and a beta of 1.63. The firm has a 50 day moving average of $193.59 and a 200 day moving average of $142.56.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results 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. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the prior year, the company posted $1.05 EPS. The firm's revenue for the quarter 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. On average, analysts predict 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 was paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.4%. The ex-dividend date was Tuesday, September 30th. Seagate Technology's dividend payout ratio is presently 42.54%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Zacks Research raised shares of Seagate Technology from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 2nd. Mizuho upped their price target on shares of Seagate Technology from $160.00 to $245.00 and gave the company an "outperform" rating in a research report on Friday, September 19th. Bank of America upped their price target on shares of Seagate Technology from $215.00 to $255.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Robert W. Baird upped their price target on shares of Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, TD Cowen upped their price target on shares of Seagate Technology from $135.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned 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 company presently has an average rating of "Moderate Buy" and a consensus target price of $214.89.

Insiders Place Their Bets

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $249.90, for a total value of $4,998,000.00. Following the completion of the transaction, the chief executive officer directly owned 485,668 shares in the company, valued at $121,368,433.20. This represents a 3.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jay L. Geldmacher sold 2,500 shares of the company'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 value of $376,250.00. Following the completion of the transaction, the director 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 disclosure for this sale can be found here. Insiders sold a total of 74,210 shares of company stock worth $14,146,016 over the last ninety days. 0.79% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.