OMERS ADMINISTRATION Corp Has $2.23 Million Stock Position in Seagate Technology Holdings PLC $STX

Key Points

• OMERS ADMINISTRATION Corp increased its ownership in Seagate Technology by 27.1% during the first quarter, now holding a stake worth approximately $2.23 million.
• Institutional investors control 92.87% of Seagate Technology's stock, indicating strong interest among large investors.
• Seagate recently reported a 29.5% year-over-year revenue increase, with earnings of $2.59 per share for the last quarter, exceeding analyst expectations.

OMERS ADMINISTRATION Corp raised its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 27.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,208 shares of the data storage provider's stock after buying an additional 5,590 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Seagate Technology were worth $2,226,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of STX. Beacon Pointe Advisors LLC lifted its stake in Seagate Technology by 10.8% during the fourth quarter. Beacon Pointe Advisors LLC now owns 7,039 shares of the data storage provider's stock valued at $608,000 after buying an additional 687 shares in the last quarter. Northern Trust Corp lifted its position in shares of Seagate Technology by 13.4% in the fourth quarter. Northern Trust Corp now owns 1,655,699 shares of the data storage provider's stock worth $142,903,000 after purchasing an additional 195,090 shares in the last quarter. Lido Advisors LLC lifted its position in shares of Seagate Technology by 55.4% in the fourth quarter. Lido Advisors LLC now owns 12,111 shares of the data storage provider's stock worth $1,054,000 after purchasing an additional 4,320 shares in the last quarter. AXA S.A. raised its position in Seagate Technology by 465.4% during the fourth quarter. AXA S.A. now owns 19,150 shares of the data storage provider's stock valued at $1,653,000 after acquiring an additional 15,763 shares in the last quarter. Finally, Bayesian Capital Management LP raised its position in Seagate Technology by 84.8% during the fourth quarter. Bayesian Capital Management LP now owns 25,693 shares of the data storage provider's stock valued at $2,218,000 after acquiring an additional 11,789 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Trading Up 3.3%

STX stock traded up $5.86 during midday trading on Thursday, hitting $182.18. The stock had a trading volume of 3,410,681 shares, compared to its average volume of 3,849,665. The firm has a market capitalization of $38.75 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 1.03 and a beta of 1.53. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $182.08. The stock has a 50-day simple moving average of $153.42 and a 200 day simple moving average of $117.23.

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 the consensus estimate of $2.45 by $0.14. The firm had revenue of $2.44 billion during 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%.Seagate Technology's quarterly revenue was up 29.5% compared to the same quarter last year. During the same period last 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, equities analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology declared that its board has initiated a share buyback plan on Thursday, May 22nd that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the data storage provider to purchase up to 21.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.6%. Seagate Technology's dividend payout ratio (DPR) is presently 42.54%.

Insider Buying and Selling

In related news, CEO William D. Mosley sold 54,347 shares of Seagate Technology stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $130.19, for a total value of $7,075,435.93. Following the completion of the transaction, the chief executive officer directly owned 515,677 shares of the company's stock, valued at $67,135,988.63. The trade was a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James Ci Lee sold 3,509 shares of Seagate Technology stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $154.74, for a total value of $542,982.66. Following the completion of the transaction, the insider directly owned 1,288 shares of the company's stock, valued at $199,305.12. This represents a 73.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,019 shares of company stock valued at $16,104,159 in the last ninety days. Insiders own 0.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on STX. Morgan Stanley raised their price objective 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. TD Cowen raised their price objective on shares of Seagate Technology from $135.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group initiated coverage on Seagate Technology in a report on Thursday, July 10th. They set a "buy" rating and a $170.00 price target on the stock. Robert W. Baird increased their price target on Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Wedbush reiterated an "outperform" rating and set a $140.00 price target on shares of Seagate Technology in a report on Wednesday, May 21st. Fourteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $154.50.

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.