Seagate Technology Holdings PLC $STX Shares Acquired by Federation des caisses Desjardins du Quebec

Federation des caisses Desjardins du Quebec raised its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 49.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,312 shares of the data storage provider's stock after acquiring an additional 4,707 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Seagate Technology were worth $1,216,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Flputnam Investment Management Co. raised its holdings in shares of Seagate Technology by 30.4% during the first quarter. Flputnam Investment Management Co. now owns 6,306 shares of the data storage provider's stock valued at $536,000 after acquiring an additional 1,470 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Seagate Technology by 0.8% during the first quarter. Royal Bank of Canada now owns 1,628,941 shares of the data storage provider's stock valued at $138,378,000 after acquiring an additional 12,424 shares during the last quarter. Retirement Planning Co of New England Inc. acquired a new position in shares of Seagate Technology during the first quarter valued at approximately $272,000. Mubadala Investment Co PJSC raised its holdings in shares of Seagate Technology by 12.1% during the first quarter. Mubadala Investment Co PJSC now owns 43,670 shares of the data storage provider's stock valued at $3,710,000 after acquiring an additional 4,725 shares during the last quarter. Finally, Baird Financial Group Inc. raised its holdings in shares of Seagate Technology by 5.0% during the first quarter. Baird Financial Group Inc. now owns 20,774 shares of the data storage provider's stock valued at $1,765,000 after acquiring an additional 998 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Insiders Place Their Bets

In related news, CEO William D. Mosley sold 20,000 shares of the 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 completion of the transaction, the chief executive officer directly owned 478,912 shares in the company, valued at approximately $73,632,720. This represents a 4.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ban Seng Teh sold 5,905 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $155.00, for a total value of $915,275.00. Following the completion of the transaction, the executive vice president owned 6,147 shares of the company's stock, valued at $952,785. The trade was a 49.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,078 shares of company stock valued at $8,561,503. 0.81% of the stock is currently owned by insiders.

Seagate Technology Price Performance

Shares of NASDAQ:STX traded up $3.77 during midday trading on Thursday, hitting $196.81. The company had a trading volume of 3,624,736 shares, compared to its average volume of 3,862,671. The stock has a market cap of $41.86 billion, a price-to-earnings ratio of 29.07, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $199.24. The business's 50-day simple moving average is $157.87 and its 200-day simple moving average is $120.23.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued 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 company had revenue of $2.44 billion during 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%.The firm's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, sell-side analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology announced that its Board of Directors has authorized a share buyback plan on Thursday, May 22nd that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the data storage provider to purchase up to 21.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Seagate Technology Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 1.5%. The ex-dividend date is Tuesday, September 30th. Seagate Technology's dividend payout ratio is presently 42.54%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on STX shares. Robert W. Baird increased their target price on Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Bank of America increased their target price on Seagate Technology from $145.00 to $165.00 and gave the company a "buy" rating in a report on Monday, July 14th. Benchmark increased their price target on Seagate Technology from $128.00 to $165.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Rosenblatt Securities increased 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. Finally, Wells Fargo & Company increased their price target on Seagate Technology from $122.00 to $160.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Fourteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $158.11.

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.