Mather Group LLC. Cuts Holdings in Seagate Technology Holdings PLC $STX

Key Points

• Mather Group LLC reduced its holdings in Seagate Technology by 15.1%, selling 1,287 shares in the second quarter, leaving it with a total of 7,252 shares valued at over $1 million.
• Other institutional investors, including Vanguard Group and JPMorgan Chase, have adjusted their positions in Seagate, increasing their stakes during the first quarter.
• The company announced a quarterly dividend of $0.72 per share, slated for payment on October 9, 2023, representing an annualized yield of 1.3%.

Mather Group LLC. lowered its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 15.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,252 shares of the data storage provider's stock after selling 1,287 shares during the quarter. Mather Group LLC.'s holdings in Seagate Technology were worth $1,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Seagate Technology by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider's stock worth $2,441,729,000 after buying an additional 769,009 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Seagate Technology by 12.9% in the first quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider's stock worth $1,607,321,000 after acquiring an additional 2,161,191 shares during the period. Invesco Ltd. lifted its position in Seagate Technology by 3.6% during the first quarter. Invesco Ltd. now owns 2,861,418 shares of the data storage provider's stock valued at $243,077,000 after purchasing an additional 99,884 shares during the period. Royal Bank of Canada boosted its holdings in Seagate Technology by 0.8% in the first quarter. Royal Bank of Canada now owns 1,628,941 shares of the data storage provider's stock worth $138,378,000 after purchasing an additional 12,424 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in Seagate Technology by 4.5% in the first quarter. Deutsche Bank AG now owns 1,181,460 shares of the data storage provider's stock worth $100,365,000 after purchasing an additional 50,699 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP John Christopher Morris sold 377 shares of Seagate Technology stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $211.26, for a total transaction of $79,645.02. Following the transaction, the executive vice president owned 13,238 shares in the company, valued at approximately $2,796,659.88. The trade was a 2.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay L. Geldmacher sold 2,500 shares of the company's stock in a transaction 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 transaction, the director directly owned 352 shares of the company's stock, valued at $52,976. This represents a 87.66% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,935 shares of company stock worth $12,289,616. 0.79% of the stock is currently owned by insiders.

Seagate Technology Stock Down 1.7%

Shares of STX opened at $219.85 on Friday. The business has a 50-day simple moving average of $172.87 and a two-hundred day simple moving average of $129.31. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $231.96. The stock has a market cap of $46.82 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 1.29 and a beta of 1.53.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (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 the consensus estimate 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 was up 29.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, equities analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.3%. Seagate Technology's dividend payout ratio is 42.54%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Benchmark increased their price target on Seagate Technology from $165.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, September 16th. Wells Fargo & Company upped their price objective on Seagate Technology from $122.00 to $160.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Mizuho raised their target price on Seagate Technology from $160.00 to $245.00 and gave the stock an "outperform" rating in a research report on Friday, September 19th. Susquehanna boosted their price target on Seagate Technology from $68.00 to $80.00 and gave the company a "negative" rating in a research note on Wednesday, July 30th. Finally, TD Cowen increased their price objective on shares of Seagate Technology from $135.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Fifteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Seagate Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $185.58.

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.

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