Seagate Technology Holdings PLC $STX Shares Purchased by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its holdings in Seagate Technology by 6.9%, now owning $2.79 million worth of shares after purchasing an additional 2,135 shares.
• CEO William D. Mosley sold 70,000 shares at an average price of $109.47, resulting in a 12.60% decrease in his ownership stake.
• Seagate Technology recently reported a 29.5% year-over-year revenue increase, with earnings per share of $2.59 for the last quarter, exceeding analyst expectations.

Public Sector Pension Investment Board lifted its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 6.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,862 shares of the data storage provider's stock after buying an additional 2,135 shares during the period. Public Sector Pension Investment Board's holdings in Seagate Technology were worth $2,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Tidal Investments LLC grew its position in Seagate Technology by 133.1% in the fourth quarter. Tidal Investments LLC now owns 12,681 shares of the data storage provider's stock worth $1,094,000 after acquiring an additional 7,240 shares during the period. Personal CFO Solutions LLC acquired a new position in shares of Seagate Technology in the 1st quarter valued at $223,000. Amalgamated Bank grew its holdings in shares of Seagate Technology by 0.8% during the 1st quarter. Amalgamated Bank now owns 29,964 shares of the data storage provider's stock worth $2,545,000 after purchasing an additional 243 shares during the period. Alps Advisors Inc. increased its position in shares of Seagate Technology by 10.2% during the 1st quarter. Alps Advisors Inc. now owns 278,831 shares of the data storage provider's stock worth $23,687,000 after purchasing an additional 25,817 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Seagate Technology during the 1st quarter worth about $2,626,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on STX shares. Rosenblatt Securities upped their target price on shares of Seagate Technology from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Citigroup upped their price objective on shares of Seagate Technology from $140.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Wedbush reiterated an "outperform" rating and issued a $140.00 target price on shares of Seagate Technology in a report on Wednesday, May 21st. TD Cowen boosted their target price on Seagate Technology from $135.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, Robert W. Baird raised their price target on Seagate Technology from $120.00 to $188.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Fourteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $151.44.

Insider Activity

In related news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer owned 478,912 shares of the company's stock, valued at $73,632,720. This trade represents a 4.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Ci Lee sold 1,116 shares of the stock in a transaction that occurred on 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. This represents a 81.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 343,414 shares of company stock valued at $43,661,770 over the last three months. 0.81% of the stock is currently owned by corporate insiders.

Seagate Technology Stock Performance

Shares of NASDAQ:STX traded up $4.61 during trading on Friday, hitting $159.21. The company's 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 fifty-two week low of $63.19 and a fifty-two week high of $160.57. The business has a 50 day moving average price of $147.68 and a two-hundred day moving average price of $113.34. The company has a market capitalization of $33.86 billion, a PE ratio of 23.52, a P/E/G ratio of 0.95 and a beta of 1.50.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the business posted $1.05 earnings per share. Seagate Technology'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. As a group, equities analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently disclosed 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. 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 1.8%. Seagate Technology's payout ratio is currently 42.54%.

Seagate Technology announced that its Board of Directors has initiated a share buyback program on Thursday, May 22nd that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the data storage provider to purchase up to 21.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

About Seagate Technology

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.