Seagate Technology Holdings PLC $STX Stake Increased by Groupe la Francaise

Key Points

• Groupe la Francaise increased its stake in Seagate Technology Holdings PLC by 3,774.1% in Q1, owning 34,983 shares valued at $3,061,000.
• Seagate's quarterly earnings showed a 29.5% revenue increase strong>, with reported earnings per share of $2.59, exceeding expectations.
• The company declared a quarterly dividend of $0.72 per share, signaling a 1.8% dividend yield and a payout ratio of 42.54%.

Groupe la Francaise increased its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 3,774.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,983 shares of the data storage provider's stock after buying an additional 34,080 shares during the period. Groupe la Francaise's holdings in Seagate Technology were worth $3,061,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased 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 worth $2,441,729,000 after buying an additional 769,009 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Seagate Technology by 12.9% in the first quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider's stock worth $1,607,321,000 after buying an additional 2,161,191 shares during the last quarter. Invesco Ltd. increased its stake in shares of Seagate Technology by 3.6% in the first quarter. Invesco Ltd. now owns 2,861,418 shares of the data storage provider's stock worth $243,077,000 after buying an additional 99,884 shares during the last quarter. Northern Trust Corp boosted its holdings in 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Seagate Technology by 24.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,627,264 shares of the data storage provider's stock worth $140,449,000 after purchasing an additional 318,306 shares during the period. Institutional investors own 92.87% of the company's stock.

Analyst Ratings Changes

STX has been the subject of a number of research reports. Cantor Fitzgerald raised shares of Seagate Technology from a "neutral" rating to an "overweight" rating and set a $175.00 price objective for the company in a report on Wednesday, July 30th. BNP Paribas raised shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a report on Friday, May 16th. Susquehanna lifted 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. The Goldman Sachs Group initiated coverage on shares of Seagate Technology in a report on Thursday, July 10th. They issued a "buy" rating and a $170.00 price objective for the company. Finally, Citigroup lifted 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. Fourteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Seagate Technology presently has a consensus rating of "Moderate Buy" and an average price target of $151.44.

Insider Activity at Seagate Technology

In related news, insider James Ci Lee sold 1,116 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $153.36, for a total value of $171,149.76. Following the completion of the sale, the insider owned 257 shares of the company's stock, valued at $39,413.52. This represents a 81.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ban Seng Teh sold 1,724 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $151.61, for a total transaction of $261,375.64. Following the completion of the sale, the executive vice president directly owned 6,147 shares of the company's stock, valued at $931,946.67. The trade was a 21.90% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 343,414 shares of company stock worth $43,661,770. 0.81% of the stock is owned by company insiders.

Seagate Technology Stock Performance

Shares of STX opened at $159.21 on Friday. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $160.57. The company has a market cap of $33.86 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 0.98 and a beta of 1.50. The firm has a fifty day moving average of $147.68 and a 200-day moving average of $113.46.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.14. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. 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 previous year, the company posted $1.05 earnings per share. The company's revenue for the quarter 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. Analysts predict that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

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 issued 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 dividend yield of 1.8%. Seagate Technology's payout ratio is 42.54%.

Seagate Technology announced that its board has authorized a stock repurchase program on Thursday, May 22nd that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the data storage provider to reacquire up to 21.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.