United Services Automobile Association Buys Shares of 4,536 Seagate Technology Holdings PLC $STX

Key Points

• United Services Automobile Association has acquired a new stake of 4,536 shares in Seagate Technology, valued at approximately $385,000, indicating strong institutional interest in the company.
• Seagate Technology's quarterly earnings surpassed expectations, reporting $2.59 EPS against a consensus estimate of $2.45, and a year-over-year revenue increase of 29.5%.
• The company has initiated a stock buyback program authorizing up to $5.00 billion, reflecting the board's belief that the stock is undervalued.

United Services Automobile Association bought a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,536 shares of the data storage provider's stock, valued at approximately $385,000.

Other institutional investors also recently modified their holdings of the company. Ameriflex Group Inc. acquired a new stake in shares of Seagate Technology during the 4th quarter valued at $26,000. Elequin Capital LP acquired a new stake in shares of Seagate Technology in the 4th quarter valued at $27,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Seagate Technology in the 4th quarter valued at $27,000. Wayfinding Financial LLC acquired a new stake in shares of Seagate Technology in the 1st quarter valued at $31,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Seagate Technology by 2,200.0% in the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock valued at $39,000 after purchasing an additional 440 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Insider Activity at Seagate Technology

In other news, insider James Ci Lee sold 3,509 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $154.74, for a total transaction of $542,982.66. Following the transaction, the insider owned 1,288 shares in the company, valued at approximately $199,305.12. The trade was a 73.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jay L. Geldmacher sold 2,500 shares of the business's 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 transaction, the director owned 352 shares in the company, valued at approximately $52,976. The trade was a 87.66% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,078 shares of company stock worth $8,561,503. 0.81% of the stock is owned by company insiders.

Seagate Technology Price Performance

Shares of STX opened at $196.81 on Friday. The company has a market capitalization of $41.91 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 1.19 and a beta of 1.53. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $199.24. The company's fifty day moving average price is $158.82 and its 200 day moving average price is $120.90.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced 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 for the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The business's quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

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

Seagate Technology Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. BNP Paribas raised shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a research note on Friday, May 16th. The Goldman Sachs Group assumed coverage on shares of Seagate Technology in a research note on Thursday, July 10th. They issued a "buy" rating and a $170.00 price objective for the company. Wedbush reaffirmed an "outperform" rating and issued a $140.00 price objective on shares of Seagate Technology in a research note on Wednesday, May 21st. Citigroup lifted their price objective on shares of Seagate Technology from $167.00 to $215.00 and gave the company a "buy" rating in a research note on Monday. Finally, Susquehanna lifted their price objective 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. Fourteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Seagate Technology currently has an average rating of "Moderate Buy" and an average price target of $158.11.

About Seagate Technology

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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