MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 2,172 Shares of Seagate Technology Holdings PLC $STX

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Seagate Technology by 1.9%, holding 112,600 shares valued at approximately $9.57 million.
• JPMorgan Chase & Co. and Wellington Management significantly increased their positions in Seagate Technology, with JPMorgan boosting its holdings by 12.9% and Wellington by over 3,339% in the first quarter.
• Seagate Technology recently set a quarterly dividend of $0.72 and announced a $5 billion stock repurchase program, allowing it to buy back up to 21.6% of its stock.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 1.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,600 shares of the data storage provider's stock after selling 2,172 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.05% of Seagate Technology worth $9,565,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in STX. JPMorgan Chase & Co. grew its stake in shares of Seagate Technology by 12.9% during the 1st quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider's stock worth $1,607,321,000 after acquiring an additional 2,161,191 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Seagate Technology by 3,339.4% in the first quarter. Wellington Management Group LLP now owns 933,996 shares of the data storage provider's stock valued at $79,343,000 after buying an additional 906,840 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Seagate Technology by 2.7% in the first quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider's stock valued at $2,441,729,000 after buying an additional 769,009 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Seagate Technology by 2,853.4% in the fourth quarter. Janus Henderson Group PLC now owns 670,976 shares of the data storage provider's stock valued at $57,925,000 after buying an additional 648,257 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in shares of Seagate Technology in the first quarter valued at $50,792,000. 92.87% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $153.75, for a total value of $3,075,000.00. Following the completion of the transaction, the chief executive officer owned 478,912 shares of the company's stock, valued at $73,632,720. This represents a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ban Seng Teh sold 5,905 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $155.00, for a total value of $915,275.00. Following the completion of the transaction, the executive vice president directly owned 6,147 shares of the company's stock, valued at $952,785. This represents a 49.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,078 shares of company stock worth $8,561,503 in the last ninety days. Insiders own 0.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on STX. Susquehanna raised their target price on shares of Seagate Technology from $68.00 to $80.00 and gave the company a "negative" rating in a research note on Wednesday, July 30th. Rosenblatt Securities raised their target price on shares of Seagate Technology from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. BNP Paribas Exane raised shares of Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 target price for the company in a research note on Friday, May 16th. Benchmark raised their target price on shares of Seagate Technology from $128.00 to $165.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Finally, Bank of America lifted their price objective on shares of Seagate Technology from $145.00 to $165.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Fourteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $158.11.

Seagate Technology Trading Down 0.4%

NASDAQ STX traded down $0.82 during trading on Friday, hitting $195.99. 3,293,055 shares of the company's stock were exchanged, compared to its average volume of 2,913,302. The company has a market cap of $41.74 billion, a PE ratio of 28.95, a P/E/G ratio of 1.21 and a beta of 1.53. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $199.24. The stock's 50 day moving average price is $159.75 and its two-hundred day moving average price is $121.56.

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 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 business's quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

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

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.88 annualized dividend and a yield of 1.5%. Seagate Technology's payout ratio is presently 42.54%.

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.