Seagate Technology Holdings PLC $STX Shares Purchased by Flputnam Investment Management Co.

Key Points

• Flputnam Investment Management Co. increased its stake in Seagate Technology by 30.4%, holding 6,306 shares valued at approximately $536,000.
• Seagate announced a quarterly dividend of $0.72 per share, with a yield of 1.7%, to be paid on October 9th.
• Analysts have set new target prices for Seagate Technology, with the highest target at $200 and a consensus rating of "Moderate Buy."

Flputnam Investment Management Co. lifted its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 30.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,306 shares of the data storage provider's stock after buying an additional 1,470 shares during the quarter. Flputnam Investment Management Co.'s holdings in Seagate Technology were worth $536,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ameriflex Group Inc. purchased a new position in Seagate Technology in the fourth quarter worth about $26,000. Elequin Capital LP bought a new position in shares of Seagate Technology in the fourth quarter worth about $27,000. Fourth Dimension Wealth LLC bought a new position in shares of Seagate Technology in the fourth quarter worth about $27,000. Wayfinding Financial LLC bought a new position in shares of Seagate Technology in the first quarter worth about $31,000. Finally, Golden State Wealth Management LLC raised its stake in shares of 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 worth $39,000 after buying an additional 440 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Performance

NASDAQ:STX traded up $4.18 during mid-day trading on Friday, hitting $188.16. 3,760,377 shares of the company's stock traded hands, compared to its average volume of 2,534,018. The company has a fifty day moving average of $155.22 and a 200 day moving average of $118.49. The company has a market capitalization of $40.02 billion, a P/E ratio of 27.79, a P/E/G ratio of 1.16 and a beta of 1.53. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $189.23.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, topping analysts' consensus estimates of $2.45 by $0.14. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The company's revenue was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 earnings per share. 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 announced that its board has approved a share buyback program on Thursday, May 22nd that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the data storage provider to reacquire up to 21.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 30th. Seagate Technology's dividend payout ratio (DPR) is currently 42.54%.

Insider Buying and Selling

In other Seagate Technology news, Director Jay L. Geldmacher sold 2,500 shares of Seagate Technology stock in a transaction dated 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. The trade was a 87.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider James Ci Lee sold 3,509 shares of Seagate Technology stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $154.74, for a total value of $542,982.66. Following the sale, the insider directly owned 1,288 shares of the company's stock, valued at $199,305.12. This trade represents a 73.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,019 shares of company stock valued at $16,104,159. 0.81% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

STX has been the topic of several recent analyst reports. Barclays lifted their target price on Seagate Technology from $125.00 to $180.00 and gave the company an "equal weight" rating in a research note on Thursday, August 28th. Cantor Fitzgerald raised Seagate Technology from a "neutral" rating to an "overweight" rating and set a $175.00 price objective on the stock in a report on Wednesday, July 30th. Robert W. Baird raised their target price on shares of Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Wells Fargo & Company raised their target price on shares of Seagate Technology from $122.00 to $160.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Finally, BNP Paribas Exane upgraded 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 given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Seagate Technology has an average rating of "Moderate Buy" and an average target price of $154.50.

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.