Ieq Capital LLC Acquires 2,391 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Ieq Capital LLC increased its stake in Seagate Technology by 6.7%, acquiring an additional 2,391 shares to bring its total to 38,013 shares valued at approximately $3.23 million.
• Major institutional investors including Vanguard and JPMorgan Chase have also boosted their positions in Seagate, collectively owning nearly 92.87% of the company's stock.
• Seagate recently announced a quarterly dividend of $0.72 per share, along with a share buyback authorization of $5 billion, signaling the board's confidence in the company's value.

Ieq Capital LLC boosted its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 6.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,013 shares of the data storage provider's stock after acquiring an additional 2,391 shares during the period. Ieq Capital LLC's holdings in Seagate Technology were worth $3,229,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of STX. Nishkama Capital LLC purchased a new stake in Seagate Technology in the first quarter valued at about $4,754,000. Southeast Asset Advisors LLC purchased a new position in shares of Seagate Technology in the first quarter worth $255,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Seagate Technology by 0.4% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 40,449 shares of the data storage provider's stock worth $3,436,000 after buying an additional 144 shares during the last quarter. Groupe la Francaise raised its holdings in shares of Seagate Technology by 3,774.1% in the first quarter. Groupe la Francaise now owns 34,983 shares of the data storage provider's stock worth $3,061,000 after buying an additional 34,080 shares during the last quarter. Finally, Norinchukin Bank The raised its holdings in shares of Seagate Technology by 13.9% in the first quarter. Norinchukin Bank The now owns 10,125 shares of the data storage provider's stock worth $860,000 after buying an additional 1,238 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on STX. UBS Group raised their price objective on Seagate Technology from $85.00 to $155.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. TD Cowen raised their price objective on Seagate Technology from $135.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Rosenblatt Securities raised their target price on shares of Seagate Technology from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. The Goldman Sachs Group started coverage on shares of Seagate Technology in a report on Thursday, July 10th. They set a "buy" rating and a $170.00 target price for the company. Finally, Cantor Fitzgerald raised shares of Seagate Technology from a "neutral" rating to an "overweight" rating and set a $175.00 target price for the company in a report on Wednesday, July 30th. Fourteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Seagate Technology currently has an average rating of "Moderate Buy" and a consensus price target of $154.50.

Seagate Technology Price Performance

Shares of NASDAQ:STX traded up $5.43 during mid-day trading on Thursday, hitting $181.75. The company had a trading volume of 3,103,678 shares, compared to its average volume of 3,849,197. The firm has a fifty day moving average price of $153.42 and a 200 day moving average price of $117.23. The company has a market capitalization of $38.65 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 1.03 and a beta of 1.53. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $181.80.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $2.40 billion. During the same period in the previous year, the company posted $1.05 EPS. The firm'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. Research analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal 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 issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology's payout ratio is currently 42.54%.

Seagate Technology announced that its board has initiated a stock buyback program on Thursday, May 22nd that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the data storage provider to buy up to 21.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

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 completion of the sale, the director directly owned 352 shares of the company's stock, valued at approximately $52,976. The trade was a 87.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 of the company's stock, valued at $73,632,720. This represents a 4.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 115,019 shares of company stock valued at $16,104,159. Company insiders own 0.81% 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.