National Pension Service Has $16.60 Million Stock Position in Seagate Technology Holdings PLC $STX

Key Points

• The National Pension Service has reduced its holdings in Seagate Technology by 61.2%, owning approximately 0.09% of the company after selling over 300,000 shares in the first quarter.
• Multiple institutional investors are adjusting their positions in Seagate, with some increasing their stakes while others are initiating new investments, reflecting a total institutional ownership of 92.87%.
• Seagate Technology announced a $5.00 billion share buyback program, indicating that the board believes its shares are undervalued, alongside a recently declared quarterly dividend of $0.72 per share.

National Pension Service lessened its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 61.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 195,399 shares of the data storage provider's stock after selling 307,858 shares during the period. National Pension Service owned 0.09% of Seagate Technology worth $16,599,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriflex Group Inc. acquired a new position in shares of Seagate Technology in the 4th quarter valued at $26,000. Elequin Capital LP acquired a new position in shares of Seagate Technology in the 4th quarter valued at $27,000. Fourth Dimension Wealth LLC acquired a new position in shares of Seagate Technology in the 4th quarter valued at $27,000. Wayfinding Financial LLC acquired a new position in shares of Seagate Technology in the 1st quarter valued at $31,000. Finally, Golden State Wealth Management LLC grew its holdings in shares of Seagate Technology by 2,200.0% in the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock valued at $39,000 after buying an additional 440 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Price Performance

NASDAQ:STX traded down $2.6810 on Thursday, hitting $155.7190. 633,013 shares of the company's stock were exchanged, compared to its average volume of 3,891,246. The firm has a 50-day moving average price of $146.47 and a 200-day moving average price of $112.47. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $159.36. The company has a market cap of $33.12 billion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 1.00 and a beta of 1.50.

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

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be given 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 1.8%. Seagate Technology's payout ratio is 42.54%.

Seagate Technology announced that its Board of Directors has initiated 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 purchase up to 21.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on STX shares. Citigroup boosted their price target on shares of Seagate Technology from $140.00 to $170.00 and gave the company a "buy" rating in a report on Friday, July 11th. 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 research note on Wednesday, July 30th. UBS Group upped their target price on shares of Seagate Technology from $85.00 to $155.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. 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, Morgan Stanley upped their target price on shares of Seagate Technology from $167.00 to $168.00 and gave the stock an "overweight" 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $151.44.

Insider Activity

In other news, Director Jay L. Geldmacher sold 2,500 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $150.50, for a total value of $376,250.00. Following the sale, the director directly owned 352 shares of the company's stock, valued at approximately $52,976. This represents a 87.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Ci Lee sold 1,116 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $153.36, for a total transaction of $171,149.76. Following the completion of the sale, the insider directly owned 257 shares in the company, valued at approximately $39,413.52. The trade was a 81.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 343,414 shares of company stock valued at $43,661,770 in the last 90 days. 0.81% of the stock is owned by company insiders.

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.