VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 318,400 Seagate Technology Holdings PLC $STX

Key Points

• Virginia Retirement Systems acquired approximately 318,400 shares of Seagate Technology Holdings PLC, valued at about $45.96 million, reflecting a new investment in the data storage company.
• Seagate Technology reported earnings of $2.59 per share for the last quarter, exceeding estimates, with a revenue increase of 29.5% year-over-year.
• Institutional investors own approximately 92.87% of Seagate Technology's stock, highlighting strong investor confidence in the company.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 318,400 shares of the data storage provider's stock, valued at approximately $45,955,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.15% of Seagate Technology as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Seagate Technology by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider's stock worth $2,441,729,000 after acquiring an additional 769,009 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Seagate Technology by 12.9% during the first quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider's stock valued at $1,607,321,000 after buying an additional 2,161,191 shares in the last quarter. Invesco Ltd. lifted its stake in Seagate Technology by 3.6% during the first quarter. Invesco Ltd. now owns 2,861,418 shares of the data storage provider's stock valued at $243,077,000 after buying an additional 99,884 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Seagate Technology by 0.8% in the first quarter. Royal Bank of Canada now owns 1,628,941 shares of the data storage provider's stock worth $138,378,000 after buying an additional 12,424 shares during the period. Finally, Deutsche Bank AG increased its position in shares of Seagate Technology by 4.5% in the first quarter. Deutsche Bank AG now owns 1,181,460 shares of the data storage provider's stock worth $100,365,000 after acquiring an additional 50,699 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

Seagate Technology Price Performance

NASDAQ STX opened at $225.40 on Friday. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $264.83. The stock's 50-day moving average is $198.09 and its two-hundred day moving average is $145.45. The firm has a market cap of $48.00 billion, a P/E ratio of 33.29, a price-to-earnings-growth ratio of 1.01 and a beta of 1.63.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the prior year, the firm earned $1.05 EPS. Seagate Technology's quarterly revenue was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, equities analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Tuesday, September 30th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.3%. The ex-dividend date was Tuesday, September 30th. Seagate Technology's payout ratio is currently 42.54%.

Insider Buying and Selling

In other Seagate Technology news, EVP John Christopher Morris sold 377 shares of the business's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $211.26, for a total value of $79,645.02. Following the sale, the executive vice president owned 13,238 shares of the company's stock, valued at $2,796,659.88. The trade was a 2.77% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider James Ci Lee sold 1,116 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $153.36, for a total value of $171,149.76. Following the completion of the sale, the insider owned 257 shares of the company's stock, valued at approximately $39,413.52. This trade represents a 81.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,620 shares of company stock worth $14,464,056. 0.79% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

STX has been the subject of a number of recent analyst reports. UBS Group raised their price objective on shares of Seagate Technology from $85.00 to $155.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Mizuho raised their target price on Seagate Technology from $245.00 to $280.00 and gave the stock an "outperform" rating in a research report on Friday. Evercore ISI upped their price target on Seagate Technology from $160.00 to $330.00 and gave the company an "outperform" rating in a research report on Monday, October 13th. Rosenblatt Securities increased their price objective on Seagate Technology from $200.00 to $250.00 and gave the stock a "buy" rating in a research note on Monday, September 29th. Finally, Barclays lifted their target price on Seagate Technology from $180.00 to $200.00 and gave the company an "equal weight" rating in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $229.40.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.