Nuveen LLC Takes $17.06 Million Position in Seagate Technology Holdings PLC $STX

Key Points

• Nuveen LLC has acquired a new stake in Seagate Technology, purchasing 200,796 shares valued at approximately $17 million, representing 0.09% of the company.
• Multiple institutional investors have increased their stakes in Seagate, with 92.87% of its stock currently owned by institutional investors and hedge funds.
• Seagate Technology recently announced a quarterly dividend of $0.72 per share and has initiated a stock buyback plan allowing for the repurchase of up to $5 billion in shares, indicating confidence in their stock value.

Nuveen LLC purchased a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 200,796 shares of the data storage provider's stock, valued at approximately $17,058,000. Nuveen LLC owned 0.09% of Seagate Technology as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Cooper Financial Group purchased a new stake in shares of Seagate Technology in the first quarter worth about $391,000. Invesco Ltd. boosted its stake in shares of Seagate Technology by 3.6% in the first quarter. Invesco Ltd. now owns 2,861,418 shares of the data storage provider's stock worth $243,077,000 after buying an additional 99,884 shares during the last quarter. Mizuho Markets Americas LLC boosted its stake in shares of Seagate Technology by 17.8% in the first quarter. Mizuho Markets Americas LLC now owns 361,002 shares of the data storage provider's stock worth $30,667,000 after buying an additional 54,499 shares during the last quarter. JPMorgan Chase & Co. boosted 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 buying an additional 2,161,191 shares during the last quarter. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Seagate Technology in the first quarter worth about $215,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Seagate Technology Stock Performance

Shares of NASDAQ:STX traded up $4.61 during trading on Friday, reaching $159.21. The stock had a trading volume of 1,920,032 shares, compared to its average volume of 3,496,670. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $160.57. The stock has a market cap of $33.86 billion, a PE ratio of 22.02, a PEG ratio of 0.98 and a beta of 1.50. The business has a fifty day moving average price of $147.68 and a 200-day moving average price of $113.46.

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 negative return on equity of 169.60% and a net margin of 16.15%.The firm had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.40 billion. During the same period in the previous year, the business earned $1.05 earnings per share. The firm'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. Sell-side analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology's dividend payout ratio is currently 42.54%.

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

Analyst Ratings Changes

A number of analysts have recently commented on STX shares. UBS Group upped their target price on Seagate Technology from $85.00 to $155.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Barclays upped their target price on Seagate Technology from $90.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Rosenblatt Securities increased their price target on Seagate Technology from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Robert W. Baird raised their price objective on Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, BNP Paribas Exane raised Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 price objective on the stock in a report on Friday, May 16th. Fourteen 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's stock. According to data from MarketBeat, Seagate Technology currently has an average rating of "Moderate Buy" and an average target price of $151.44.

Insider Buying and Selling at Seagate Technology

In related news, CFO Gianluca Romano sold 26,816 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $117.58, for a total value of $3,153,025.28. Following the completion of the sale, the chief financial officer owned 38,082 shares of the company's stock, valued at approximately $4,477,681.56. This trade represents a 41.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William D. Mosley sold 54,347 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $130.19, for a total value of $7,075,435.93. Following the completion of the sale, the chief executive officer directly owned 515,677 shares of the company's stock, valued at approximately $67,135,988.63. This represents a 9.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, 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.