Kovitz Investment Group Partners LLC Acquires 113,113 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Seagate Technology by 1,673.5%, owning approximately 119,872 shares valued at about $10.2 million in its latest SEC filing.
• Seagate Technology recently announced a quarterly dividend of $0.72 per share, with a dividend yield of 1.9%, along with a share buyback plan authorizing the repurchase of up to $5 billion in stock.
• Analysts have varied ratings on Seagate Technology, with a consensus recommendation of "Moderate Buy" and an average price target of $151.44, while its stock is currently trading at around $154.43.

Kovitz Investment Group Partners LLC raised its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 1,673.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 119,872 shares of the data storage provider's stock after acquiring an additional 113,113 shares during the quarter. Kovitz Investment Group Partners LLC owned approximately 0.06% of Seagate Technology worth $10,183,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Seagate Technology in the 4th quarter valued at approximately $22,961,000. Rockefeller Capital Management L.P. increased its stake in Seagate Technology by 2.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 11,583 shares of the data storage provider's stock valued at $1,000,000 after purchasing an additional 269 shares in the last quarter. Townsquare Capital LLC raised its position in shares of Seagate Technology by 5.7% during the fourth 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 period. Mariner LLC lifted its position in Seagate Technology by 3.0% in the 4th quarter. Mariner LLC now owns 42,226 shares of the data storage provider's stock valued at $3,645,000 after acquiring an additional 1,238 shares in the last quarter. Finally, Bridgewater Associates LP purchased a new position in Seagate Technology during the 4th quarter worth $2,467,000. Institutional investors own 92.87% of the company's stock.

Insiders Place Their Bets

In related news, CFO Gianluca Romano sold 26,816 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $117.58, for a total transaction of $3,153,025.28. Following the completion of the transaction, the chief financial officer owned 38,082 shares in the company, valued at $4,477,681.56. This represents a 41.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael R. Cannon sold 24,190 shares of Seagate Technology stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $119.00, for a total value of $2,878,610.00. Following the sale, the director directly owned 10,835 shares in the company, valued at approximately $1,289,365. The trade was a 69.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 343,414 shares of company stock worth $43,661,770. 0.81% of the stock is currently owned by company insiders.

Seagate Technology Stock Performance

STX traded down $3.2810 on Thursday, hitting $155.1190. 709,137 shares of the company were exchanged, compared to its average volume of 3,891,906. The firm has a fifty day simple moving average of $146.47 and a two-hundred day simple moving average of $112.47. The stock has a market capitalization of $32.99 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 1.00 and a beta of 1.50. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $159.36.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly 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. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The firm's revenue was up 29.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, equities analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology declared that its Board of Directors has authorized a share buyback program on Thursday, May 22nd that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the data storage provider to buy up to 21.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors 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 1.9%. The ex-dividend date is Tuesday, September 30th. Seagate Technology's payout ratio is currently 42.54%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. BNP Paribas upgraded shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a research report on Friday, May 16th. The Goldman Sachs Group initiated coverage on shares of Seagate Technology in a research note on Thursday, July 10th. They set a "buy" rating and a $170.00 price objective for the company. Cantor Fitzgerald raised shares of Seagate Technology from a "neutral" rating to an "overweight" rating and set a $175.00 price target for the company in a report on Wednesday, July 30th. TD Cowen upped their price target on shares of Seagate Technology from $135.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, Robert W. Baird lifted their price objective on Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. 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. Based on data from MarketBeat, Seagate Technology currently has a consensus rating of "Moderate Buy" and an average target price of $151.44.

Seagate Technology Company 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.