MBB Public Markets I LLC Buys Shares of 3,533 Seagate Technology Holdings PLC $STX

Key Points

• MBB Public Markets I LLC acquired 3,533 shares of Seagate Technology Holdings PLC, valued at approximately $300,000, during the first quarter of the year.
• Seagate Technology's insiders have sold 57,078 shares worth over $8.5 million in the last ninety days, indicating significant stock activity among executives.
• Seagate's stock has been upgraded by several brokerages, with a consensus rating of "Moderate Buy" and an average target price of $158.11.

MBB Public Markets I LLC bought a new stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,533 shares of the data storage provider's stock, valued at approximately $300,000.

Other large investors also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new stake in Seagate Technology in the fourth quarter valued at $26,000. Elequin Capital LP acquired a new stake in Seagate Technology in the fourth quarter valued at $27,000. Fourth Dimension Wealth LLC acquired a new stake in Seagate Technology in the fourth quarter valued at $27,000. Wayfinding Financial LLC acquired a new stake in Seagate Technology in the first quarter valued at $31,000. Finally, Golden State Wealth Management LLC grew its holdings in Seagate Technology by 2,200.0% in the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock valued at $39,000 after purchasing an additional 440 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Insiders Place Their Bets

In other news, EVP Ban Seng Teh sold 1,724 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $151.61, for a total transaction of $261,375.64. Following the sale, the executive vice president owned 6,147 shares in the company, valued at $931,946.67. This trade represents a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider James Ci Lee sold 1,116 shares of the business's stock in a transaction 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 sale, the insider directly owned 257 shares of the company's stock, valued at $39,413.52. This represents a 81.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 57,078 shares of company stock worth $8,561,503 over the last ninety days. Company insiders own 0.81% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on STX. Rosenblatt Securities lifted their price objective on Seagate Technology from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Wedbush restated an "outperform" rating and set a $140.00 price objective on shares of Seagate Technology in a research report on Wednesday, May 21st. Bank of America boosted their price target on Seagate Technology from $145.00 to $165.00 and gave the stock a "buy" rating in a report on Monday, July 14th. TD Cowen boosted their price target on Seagate Technology from $135.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, Cantor Fitzgerald raised 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. Fourteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Seagate Technology has a consensus rating of "Moderate Buy" and an average target price of $158.11.

Seagate Technology Stock Up 2.0%

STX stock opened at $196.81 on Friday. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $199.24. The stock's fifty day simple moving average is $158.82 and its 200-day simple moving average is $120.90. The stock has a market capitalization of $41.91 billion, a price-to-earnings ratio of 29.07, a price-to-earnings-growth ratio of 1.19 and a beta of 1.53.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.40 billion. During the same quarter last year, the firm earned $1.05 earnings per share. The business's revenue was up 29.5% on a year-over-year basis. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology declared 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 outstanding shares. This repurchase authorization permits the data storage provider to reacquire up to 21.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.72 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.88 annualized dividend and a dividend yield of 1.5%. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.