Seagate Technology Holdings PLC $STX Position Increased by Mubadala Investment Co PJSC

Key Points

• Mubadala Investment Co PJSC has increased its stake in Seagate Technology Holdings PLC by 12.1%, acquiring an additional 4,725 shares to reach a total of 43,670 shares, making it the company's 23rd largest holding.
• Seagate reported earnings of $2.59 per share for the last quarter, surpassing estimates, and indicated that their quarterly revenue rose by 29.5% year-over-year.
• The company recently announced a quarterly dividend of $0.72 per share, with a dividend yield of 1.7%, and approved a buyback plan allowing the purchase of up to $5.00 billion in outstanding shares.

Mubadala Investment Co PJSC raised its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 12.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,670 shares of the data storage provider's stock after buying an additional 4,725 shares during the period. Seagate Technology makes up approximately 0.0% of Mubadala Investment Co PJSC's holdings, making the stock its 23rd largest holding. Mubadala Investment Co PJSC's holdings in Seagate Technology were worth $3,710,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Ameriflex Group Inc. acquired a new stake in shares of Seagate Technology in the fourth quarter valued at approximately $26,000. Elequin Capital LP acquired a new stake in Seagate Technology during the fourth quarter worth approximately $27,000. Fourth Dimension Wealth LLC acquired a new stake in Seagate Technology during the fourth quarter worth approximately $27,000. Wayfinding Financial LLC purchased a new stake in shares of Seagate Technology during the 1st quarter valued at $31,000. Finally, Golden State Wealth Management LLC grew its position in Seagate Technology by 2,200.0% during the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock valued at $39,000 after acquiring an additional 440 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on STX shares. TD Cowen boosted 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. Robert W. Baird boosted their price objective on shares of Seagate Technology from $120.00 to $188.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Barclays upped their price objective on shares of Seagate Technology from $125.00 to $180.00 and gave the company an "equal weight" rating in a research report on Thursday, August 28th. Wall Street Zen lowered shares of Seagate Technology from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, The Goldman Sachs Group began coverage on shares of Seagate Technology in a research note on Thursday, July 10th. They issued a "buy" rating and a $170.00 target price on the stock. Fourteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $154.50.

Seagate Technology Stock Performance

Shares of STX traded up $5.82 during mid-day trading on Wednesday, reaching $176.32. 3,768,808 shares of the company's stock traded hands, compared to its average volume of 3,854,295. The business's 50-day moving average price is $152.66 and its 200-day moving average price is $116.82. The stock has a market capitalization of $37.50 billion, a P/E ratio of 26.04, a price-to-earnings-growth ratio of 1.03 and a beta of 1.53. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $176.49.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, beating analysts' consensus estimates of $2.45 by $0.14. The company had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.40 billion. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The business's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Equities research analysts anticipate that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Dividend Announcement

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 issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.88 annualized dividend and a yield of 1.6%. Seagate Technology's payout ratio is presently 42.54%.

Seagate Technology announced that its board has authorized a share repurchase 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 purchase up to 21.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Seagate Technology

In other Seagate Technology news, Director Jay L. Geldmacher sold 2,500 shares of the company'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 value of $376,250.00. Following the completion of the sale, the director directly owned 352 shares in the company, valued at $52,976. This represents a 87.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James Ci Lee sold 1,116 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $153.36, for a total value of $171,149.76. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,712 shares of company stock valued at $16,448,971. 0.81% of the stock is currently owned by company insiders.

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.