Trexquant Investment LP lessened its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 96.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,242 shares of the data storage provider's stock after selling 183,751 shares during the quarter. Trexquant Investment LP's holdings in Seagate Technology were worth $530,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in STX. OMERS ADMINISTRATION Corp increased its holdings in shares of Seagate Technology by 27.1% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 26,208 shares of the data storage provider's stock worth $2,226,000 after acquiring an additional 5,590 shares during the last quarter. CreativeOne Wealth LLC increased its holdings in shares of Seagate Technology by 46.8% in the first quarter. CreativeOne Wealth LLC now owns 17,058 shares of the data storage provider's stock valued at $1,449,000 after purchasing an additional 5,441 shares during the last quarter. Ieq Capital LLC raised its position in shares of Seagate Technology by 6.7% in the first quarter. Ieq Capital LLC now owns 38,013 shares of the data storage provider's stock valued at $3,229,000 after purchasing an additional 2,391 shares during the period. Nishkama Capital LLC acquired a new stake in shares of Seagate Technology during the 1st quarter worth about $4,754,000. Finally, Southeast Asset Advisors LLC bought a new stake in shares of Seagate Technology during the 1st quarter worth about $255,000. 92.87% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, Director Jay L. Geldmacher sold 2,500 shares of Seagate Technology stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $150.50, for a total value of $376,250.00. Following the transaction, the director directly owned 352 shares of the company's stock, valued at $52,976. This trade represents a 87.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James Ci Lee sold 1,116 shares of the business's 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 transaction, the insider owned 257 shares of the company's stock, 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. Over the last quarter, insiders have sold 57,078 shares of company stock worth $8,561,503. Insiders own 0.81% of the company's stock.
Seagate Technology Trading Up 2.0%
NASDAQ STX traded up $3.77 during midday trading on Thursday, hitting $196.81. The company had a trading volume of 3,624,732 shares, compared to its average volume of 3,862,577. The firm has a 50-day moving average price of $157.87 and a 200-day moving average price of $120.23. The company has a market capitalization of $41.86 billion, a PE ratio of 29.07, a P/E/G ratio of 1.18 and a beta of 1.53. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $199.24.
Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, topping analysts' consensus estimates of $2.45 by $0.14. The company had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.40 billion. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.Seagate Technology's revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the business earned $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, equities analysts anticipate that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.
Seagate Technology announced that its board has authorized a stock repurchase plan on Thursday, May 22nd that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to purchase up to 21.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.
Seagate Technology Announces Dividend
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. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology's dividend payout ratio is 42.54%.
Analyst Ratings Changes
Several research analysts have weighed in on STX shares. Rosenblatt Securities increased their price target on shares of Seagate Technology from $185.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. UBS Group increased their target price on Seagate Technology from $85.00 to $155.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Cantor Fitzgerald raised Seagate Technology from a "neutral" rating to an "overweight" rating and set a $175.00 price target for the company in a report on Wednesday, July 30th. Wells Fargo & Company upped their price objective on Seagate Technology from $122.00 to $160.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Finally, BNP Paribas raised Seagate Technology from a "strong sell" rating to a "hold" rating in a report on Friday, May 16th. Fourteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $158.11.
Check Out Our Latest Research Report on Seagate Technology
About Seagate Technology
(
Free Report)
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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