Gulf International Bank UK Ltd Lowers Stock Position in Seagate Technology Holdings PLC $STX

Key Points

• Gulf International Bank UK Ltd reduced its stake in Seagate Technology Holdings PLC by 17.3%, now holding 12,102 shares valued at approximately $1,028,000.
• Analysts have a general optimistic outlook on Seagate, with several firms raising their price targets and the stock holding an average rating of "Moderate Buy" with a consensus price target of $151.44.
• Seagate recently declared a quarterly dividend of $0.72 and initiated a stock buyback plan allowing for the repurchase of up to $5.00 billion in shares, indicating confidence in the stock's value.

Gulf International Bank UK Ltd reduced its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 17.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,102 shares of the data storage provider's stock after selling 2,523 shares during the period. Gulf International Bank UK Ltd's holdings in Seagate Technology were worth $1,028,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of STX. Raymond James Financial Inc. purchased a new stake in shares of Seagate Technology during the 4th quarter worth $22,961,000. Rockefeller Capital Management L.P. lifted its position in shares of Seagate Technology by 2.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 11,583 shares of the data storage provider's stock worth $1,000,000 after purchasing an additional 269 shares during the last quarter. Townsquare Capital LLC lifted its position in shares of Seagate Technology by 5.7% during the 4th quarter. Townsquare Capital LLC now owns 4,743 shares of the data storage provider's stock worth $409,000 after purchasing an additional 257 shares during the last quarter. Mariner LLC lifted its position in shares of Seagate Technology by 3.0% during the 4th quarter. Mariner LLC now owns 42,226 shares of the data storage provider's stock worth $3,645,000 after purchasing an additional 1,238 shares during the last quarter. Finally, Bridgewater Associates LP purchased a new stake in shares of Seagate Technology during the 4th quarter worth $2,467,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Seagate Technology news, 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 transaction, the insider owned 257 shares of the company's stock, valued at $39,413.52. This trade represents a 81.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ban Seng Teh sold 1,724 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $151.61, for a total transaction of $261,375.64. Following the sale, the executive vice president directly owned 6,147 shares of the company's stock, valued at $931,946.67. This represents a 21.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 430,270 shares of company stock worth $53,173,431 in the last three months. 0.81% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on STX. BNP Paribas Exane raised shares of Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 price target for the company in a research report on Friday, May 16th. Morgan Stanley upped their target price 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. UBS Group boosted their price target on shares of Seagate Technology from $85.00 to $155.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Bank of America upped their target price on shares of Seagate Technology from $145.00 to $165.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, The Goldman Sachs Group initiated coverage on shares of Seagate Technology in a research report on Thursday, July 10th. They set a "buy" rating and a $170.00 target price on the stock. Fourteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned 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 price target of $151.44.

Seagate Technology Stock Performance

NASDAQ STX traded down $1.2540 during mid-day trading on Wednesday, reaching $156.6760. 1,347,387 shares of the stock were exchanged, compared to its average volume of 3,906,734. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $158.98. The business's fifty day simple moving average is $145.83 and its 200 day simple moving average is $112.15. The stock has a market capitalization of $33.32 billion, a PE ratio of 23.14, a PEG ratio of 1.00 and a beta of 1.50.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its 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 firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the business earned $1.05 earnings per share. Seagate Technology'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. On average, analysts anticipate that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

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

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 30th will be given a dividend of $0.72 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.88 dividend on an annualized basis and a yield of 1.8%. Seagate Technology's dividend payout ratio (DPR) is 42.54%.

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.