Versor Investments LP Sells 19,260 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Versor Investments LP has significantly reduced its stake in Seagate Technology by 72.1%, now holding shares valued at $632,000 after selling 19,260 shares.
• Seagate Technology reported an earnings per share of $2.59 for the last quarter, exceeding analysts' expectations, along with a 29.5% growth in revenue year-over-year.
• The company announced a quarterly dividend of $0.72 per share, representing an annualized yield of 1.8%, with shareholders of record set to receive the payment on October 9th.

Versor Investments LP cut its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 72.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,442 shares of the data storage provider's stock after selling 19,260 shares during the quarter. Versor Investments LP's holdings in Seagate Technology were worth $632,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Rockefeller Capital Management L.P. increased its holdings in shares of Seagate Technology by 2.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 11,583 shares of the data storage provider's stock worth $1,000,000 after buying an additional 269 shares during the period. Mariner LLC increased its holdings in shares of Seagate Technology by 3.0% in the fourth quarter. Mariner LLC now owns 42,226 shares of the data storage provider's stock worth $3,645,000 after buying an additional 1,238 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Seagate Technology by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 982,649 shares of the data storage provider's stock worth $84,814,000 after buying an additional 9,821 shares during the period. Ossiam increased its holdings in shares of Seagate Technology by 294.6% in the fourth quarter. Ossiam now owns 14,926 shares of the data storage provider's stock worth $1,288,000 after buying an additional 11,143 shares during the period. Finally, Norinchukin Bank The increased its holdings in shares of Seagate Technology by 6.7% in the fourth quarter. Norinchukin Bank The now owns 8,887 shares of the data storage provider's stock worth $767,000 after buying an additional 556 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

STX has been the topic of several analyst reports. Benchmark lifted their price objective on Seagate Technology from $128.00 to $165.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Morgan Stanley upped their price objective on shares of Seagate Technology from $167.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. BNP Paribas raised shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a research note on Friday, May 16th. TD Cowen raised their target price 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. Finally, Susquehanna raised their target price on shares of Seagate Technology from $68.00 to $80.00 and gave the stock a "negative" rating in a research report on Wednesday, July 30th. Fourteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $151.44.

Insider Buying and Selling

In other news, EVP Ban Seng Teh sold 1,724 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $151.61, for a total value of $261,375.64. Following the sale, the executive vice president directly owned 6,147 shares of the company's stock, valued at approximately $931,946.67. This represents a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction 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 sale, the chief executive officer directly owned 478,912 shares of the company's stock, valued at approximately $73,632,720. The trade was a 4.01% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 343,414 shares of company stock valued at $43,661,770. Insiders own 0.81% of the company's stock.

Seagate Technology Stock Up 3.0%

Shares of STX stock traded up $4.61 during mid-day trading on Friday, reaching $159.21. 1,920,032 shares of the company's stock traded hands, compared to its average volume of 3,496,670. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $160.57. The company has a market cap of $33.86 billion, a P/E ratio of 23.52, a P/E/G ratio of 0.95 and a beta of 1.50. The company's 50-day moving average price is $147.68 and its 200-day moving average price is $113.34.

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, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $2.40 billion. During the same quarter in the previous year, the business posted $1.05 EPS. The company'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. Equities analysts predict that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology's dividend payout ratio is currently 42.54%.

Seagate Technology announced that its board has approved a share buyback program on Thursday, May 22nd that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the data storage provider to buy up to 21.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are 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.