Seagate Technology Holdings PLC $STX Stock Position Lowered by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management reduced its stake in Seagate Technology by 4.4%, owning approximately 0.73% of the company valued at $132 million.
• Seagate reported a 29.5% year-over-year revenue increase, with an EPS of $2.59 for the last quarter, exceeding projections.
• The company announced a $5 billion share buyback plan, indicating confidence in its stock value while also declaring a quarterly dividend of $0.72 per share.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC decreased its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,555,507 shares of the data storage provider's stock after selling 71,757 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.73% of Seagate Technology worth $132,140,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Tidal Investments LLC increased its stake in shares of Seagate Technology by 133.1% during the 4th quarter. Tidal Investments LLC now owns 12,681 shares of the data storage provider's stock worth $1,094,000 after purchasing an additional 7,240 shares during the last quarter. Personal CFO Solutions LLC acquired a new position in shares of Seagate Technology during the 1st quarter worth $223,000. Amalgamated Bank grew its stake in Seagate Technology by 0.8% in the 1st quarter. Amalgamated Bank now owns 29,964 shares of the data storage provider's stock valued at $2,545,000 after buying an additional 243 shares during the last quarter. Retirement Planning Co of New England Inc. acquired a new position in Seagate Technology in the 1st quarter valued at $272,000. Finally, Alps Advisors Inc. grew its stake in Seagate Technology by 10.2% in the 1st quarter. Alps Advisors Inc. now owns 278,831 shares of the data storage provider's stock valued at $23,687,000 after buying an additional 25,817 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Stock Performance

NASDAQ:STX opened at $195.99 on Friday. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $199.24. The company has a market capitalization of $41.74 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 1.21 and a beta of 1.53. The company has a 50-day moving average of $159.75 and a 200-day moving average of $121.56.

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 firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the firm posted $1.05 EPS. The firm's quarterly revenue was up 29.5% on a year-over-year basis. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Sell-side analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology declared that its Board of Directors has authorized a share buyback plan on Thursday, May 22nd that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the data storage provider to buy up to 21.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Seagate Technology Announces Dividend

The firm also recently declared 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 is Tuesday, September 30th. This represents a $2.88 annualized dividend and a dividend yield of 1.5%. Seagate Technology's payout ratio is currently 42.54%.

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 1,724 shares of Seagate Technology stock in a transaction that occurred on Monday, August 11th. The shares were 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 owned 6,147 shares in the company, valued at $931,946.67. The trade was a 21.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $153.75, for a total transaction of $3,075,000.00. Following the sale, the chief executive officer owned 478,912 shares of the company's stock, valued at approximately $73,632,720. This represents a 4.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 57,078 shares of company stock worth $8,561,503 in the last 90 days. Corporate insiders own 0.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on STX shares. Bank of America raised their target price on shares of Seagate Technology from $145.00 to $165.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Barclays raised their target price on shares of Seagate Technology from $180.00 to $200.00 and gave the company an "equal weight" rating in a research note on Thursday. Wall Street Zen lowered shares of Seagate Technology from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Wedbush restated an "outperform" rating and issued a $140.00 price target on shares of Seagate Technology in a research report on Wednesday, May 21st. Finally, TD Cowen raised their price target on shares of Seagate Technology from $135.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Fourteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $158.11.

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.

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