Wellington Management Group LLP Acquires 906,840 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Wellington Management Group LLP significantly increased its stake in Seagate Technology, raising its holdings by 3,339.4% in the first quarter, now owning approximately 934,000 shares worth about $79 million.
• Seagate Technology reported earnings of $2.59 per share for the last quarter, exceeding estimates of $2.45, and its revenue grew 29.5% year-over-year.
• The company's Board of Directors authorized a stock repurchase program of up to $5 billion, allowing for the purchase of up to 21.6% of outstanding shares, indicating confidence in the stock's valuation.

Wellington Management Group LLP increased its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 3,339.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 933,996 shares of the data storage provider's stock after acquiring an additional 906,840 shares during the quarter. Wellington Management Group LLP owned 0.44% of Seagate Technology worth $79,343,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tidal Investments LLC increased its position in Seagate Technology by 133.1% in the 4th quarter. Tidal Investments LLC now owns 12,681 shares of the data storage provider's stock valued at $1,094,000 after buying an additional 7,240 shares in the last quarter. Personal CFO Solutions LLC acquired a new stake in Seagate Technology in the first quarter valued at approximately $223,000. Amalgamated Bank increased its holdings in shares of Seagate Technology by 0.8% during the first quarter. Amalgamated Bank now owns 29,964 shares of the data storage provider's stock valued at $2,545,000 after acquiring an additional 243 shares in the last quarter. Alps Advisors Inc. lifted its holdings in shares of Seagate Technology by 10.2% in 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 in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in shares of Seagate Technology in the 1st quarter worth $2,626,000. 92.87% of the stock is owned by institutional investors.

Seagate Technology Stock Up 3.0%

Seagate Technology stock traded up $4.79 during trading on Monday, hitting $164.00. The stock had a trading volume of 2,514,370 shares, compared to its average volume of 3,436,374. The stock has a market cap of $34.88 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 0.98 and a beta of 1.50. The stock's 50 day moving average is $148.34 and its two-hundred day moving average is $114.06. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $165.28.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share 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 company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the company earned $1.05 EPS. The firm's quarterly 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 research analysts anticipate that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology announced that its board has initiated a stock buyback program on Thursday, May 22nd that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the data storage provider to repurchase up to 21.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

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 $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, September 30th. Seagate Technology's payout ratio is currently 42.54%.

Insider Buying and Selling at Seagate Technology

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 transaction, the director owned 352 shares of the company's stock, valued at $52,976. The trade was a 87.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James Ci Lee sold 1,116 shares of the stock in a transaction dated Friday, August 1st. The stock was 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. The trade was a 81.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 343,414 shares of company stock worth $43,661,770. 0.81% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on STX shares. Susquehanna upped their price objective on shares of Seagate Technology from $68.00 to $80.00 and gave the stock a "negative" rating in a report on Wednesday, July 30th. Bank of America upped their target price on shares of Seagate Technology from $145.00 to $165.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Wells Fargo & Company boosted their price objective on Seagate Technology from $122.00 to $160.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Robert W. Baird lifted their target price on Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, Benchmark increased their price target on Seagate Technology from $128.00 to $165.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Fourteen equities 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 company's stock. According to MarketBeat, Seagate Technology presently has an average rating of "Moderate Buy" and an average target price of $151.44.

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.