Northern Trust Corp Purchases 3,674 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Northern Trust Corp increased its stake in Seagate Technology Holdings by 0.2%, owning approximately 1.66 million shares valued at around $140.96 million as of the latest SEC filing.
• A significant number of institutional investors, including Vanguard Group and JPMorgan Chase, have also raised their positions in Seagate Technology, reflecting strong interest from the market.
• Seagate recently announced a quarterly dividend of $0.72 per share and has initiated a stock repurchase program worth $5.00 billion, indicating management's confidence in the company's value.

Northern Trust Corp boosted its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 0.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,659,373 shares of the data storage provider's stock after purchasing an additional 3,674 shares during the period. Northern Trust Corp owned about 0.78% of Seagate Technology worth $140,964,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew 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 purchasing an additional 769,009 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Seagate Technology by 12.9% during the 1st quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider's stock valued at $1,607,321,000 after acquiring an additional 2,161,191 shares during the period. Invesco Ltd. grew its position in shares of Seagate Technology by 3.6% during the 1st quarter. Invesco Ltd. now owns 2,861,418 shares of the data storage provider's stock valued at $243,077,000 after acquiring an additional 99,884 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Seagate Technology by 24.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,627,264 shares of the data storage provider's stock valued at $140,449,000 after acquiring an additional 318,306 shares during the period. Finally, Royal Bank of Canada grew its position in shares of Seagate Technology by 4.0% during the 4th quarter. Royal Bank of Canada now owns 1,616,517 shares of the data storage provider's stock valued at $139,521,000 after acquiring an additional 62,847 shares during the period. 92.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on STX. Morgan Stanley increased their target price on shares of Seagate Technology from $167.00 to $168.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group began coverage on shares of Seagate Technology in a research report on Thursday, July 10th. They set a "buy" rating and a $170.00 target price for the company. BNP Paribas raised shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a research report on Friday, May 16th. Wall Street Zen downgraded shares of Seagate Technology from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, BNP Paribas Exane raised shares of Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 price objective for the company in a report on Friday, May 16th. Fourteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Seagate Technology presently has an average rating of "Moderate Buy" and an average target price of $151.44.

Seagate Technology Stock Up 3.0%

Shares of STX stock traded up $4.79 on Monday, reaching $164.00. The company's stock had a trading volume of 2,514,370 shares, compared to its average volume of 3,436,374. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $165.28. The company has a market capitalization of $34.88 billion, a P/E ratio of 24.22, a PEG ratio of 0.98 and a beta of 1.50. The stock's 50 day simple moving average is $148.34 and its 200-day simple moving average is $114.06.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the business posted $1.05 earnings per share. The firm's revenue was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Research analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Dividend Announcement

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 paid a $0.72 dividend. 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 currently 42.54%.

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

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $153.75, for a total value of $3,075,000.00. Following the completion of the sale, the chief executive officer directly owned 478,912 shares of the company's stock, valued at $73,632,720. The trade was a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jay L. Geldmacher sold 2,500 shares of the business'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 sale, the director directly owned 352 shares of the company's stock, valued at $52,976. This represents a 87.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 343,414 shares of company stock valued at $43,661,770. Company insiders own 0.81% of the company's stock.

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.