Vident Advisory LLC Has $609,000 Holdings in Seagate Technology Holdings PLC $STX

Key Points

• Vident Advisory LLC reduced its stakes in Seagate Technology by 16.3%, owning 7,172 shares worth approximately $609,000 after selling 1,399 shares in Q1.
• Other institutional investors like Vanguard Group Inc. and JPMorgan Chase & Co. increased their holdings, with Vanguard owning over 28.7 million shares valued at about $2.44 billion.
• Seagate Technology announced a quarterly dividend of $0.72 per share and a stock repurchase plan authorizing up to $5 billion in buybacks, indicating confidence in the company’s valuation.

Vident Advisory LLC reduced its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 16.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,172 shares of the data storage provider's stock after selling 1,399 shares during the period. Vident Advisory LLC's holdings in Seagate Technology were worth $609,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Seagate Technology by 0.9% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 15,247 shares of the data storage provider's stock valued at $1,327,000 after purchasing an additional 134 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Seagate Technology by 1.2% during the first quarter. QRG Capital Management Inc. now owns 10,876 shares of the data storage provider's stock worth $924,000 after acquiring an additional 134 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Seagate Technology by 0.4% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 40,449 shares of the data storage provider's stock worth $3,436,000 after acquiring an additional 144 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of Seagate Technology by 5.9% during the first quarter. Blair William & Co. IL now owns 2,835 shares of the data storage provider's stock worth $241,000 after acquiring an additional 157 shares in the last quarter. Finally, Grove Bank & Trust raised its holdings in shares of Seagate Technology by 31.0% during the first quarter. Grove Bank & Trust now owns 786 shares of the data storage provider's stock worth $67,000 after acquiring an additional 186 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Seagate Technology

In related news, insider James Ci Lee sold 1,116 shares of Seagate Technology stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $153.36, for a total transaction of $171,149.76. Following the sale, the insider directly owned 257 shares of the company's stock, valued at $39,413.52. This trade represents a 81.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ban Seng Teh sold 1,724 shares of Seagate Technology stock in a transaction dated 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 in the company, valued at approximately $931,946.67. This trade represents a 21.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,078 shares of company stock valued at $8,561,503 in the last ninety days. 0.81% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

STX has been the subject of several recent research reports. TD Cowen increased their price objective on Seagate Technology from $135.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. UBS Group increased their target price on shares of Seagate Technology from $85.00 to $155.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Barclays increased their target price on shares of Seagate Technology from $180.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Thursday. Robert W. Baird increased their target price on shares of Seagate Technology from $120.00 to $188.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, Morgan Stanley increased their target price on shares of Seagate Technology from $167.00 to $168.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Fourteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $158.11.

Seagate Technology Stock Performance

Shares of NASDAQ:STX traded up $3.77 during midday trading on Thursday, hitting $196.81. The company's stock had a trading volume of 3,624,736 shares, compared to its average volume of 2,848,004. The stock has a market capitalization of $41.91 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 1.19 and a beta of 1.53. The stock's 50 day simple moving average is $158.82 and its 200 day simple moving average is $120.90. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.14. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The firm's revenue was up 29.5% compared to the same quarter last year. During the same period last year, the business posted $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, 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 share repurchase program on Thursday, May 22nd that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the data storage provider to repurchase up to 21.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 30th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.88 dividend on an annualized basis and a yield of 1.5%. Seagate Technology's dividend payout ratio (DPR) is 42.54%.

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.