Financiere des Professionnels Fonds d investissement inc. Buys New Position in Seagate Technology Holdings PLC $STX

Financiere des Professionnels Fonds d investissement inc. bought a new stake in Seagate Technology Holdings PLC (NASDAQ:STX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,243 shares of the data storage provider’s stock, valued at approximately $1,623,000.

Other institutional investors have also added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new position in shares of Seagate Technology during the 4th quarter worth approximately $26,000. Fourth Dimension Wealth LLC bought a new position in shares of Seagate Technology during the 4th quarter worth approximately $27,000. Elequin Capital LP bought a new position in shares of Seagate Technology during the 4th quarter worth approximately $27,000. Wayfinding Financial LLC bought a new position in shares of Seagate Technology during the 1st quarter worth approximately $31,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Seagate Technology by 2,200.0% during the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider’s stock worth $39,000 after buying an additional 440 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Trading Up 0.0%

NASDAQ STX opened at $211.13 on Wednesday. The firm has a market capitalization of $44.96 billion, a P/E ratio of 31.19, a PEG ratio of 1.30 and a beta of 1.53. The business has a fifty day simple moving average of $162.34 and a 200 day simple moving average of $123.24. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $215.20.

Seagate Technology (NASDAQ:STX) last released its quarterly 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. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 29.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, sell-side analysts predict that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders 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 yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Seagate Technology’s dividend payout ratio is 42.54%.

Seagate Technology declared that its board has authorized a stock repurchase program on Thursday, May 22nd that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the data storage provider to reacquire up to 21.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Rosenblatt Securities increased their price target on Seagate Technology from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. TD Cowen increased their price target on Seagate Technology from $135.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Robert W. Baird upped their target price on Seagate Technology from $120.00 to $188.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. UBS Group upped their target price on Seagate Technology from $85.00 to $155.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Finally, Wall Street Zen lowered Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Fifteen 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.58.

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP John Christopher Morris sold 15,347 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $195.80, for a total value of $3,004,942.60. Following the completion of the transaction, the executive vice president owned 9,843 shares in the company, valued at $1,927,259.40. This represents a 60.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay L. Geldmacher sold 2,500 shares of the company’s stock in a transaction 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 completion of the transaction, the director owned 352 shares of the company’s stock, valued at $52,976. This trade represents a 87.66% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,558 shares of company stock worth $12,209,971. Company insiders own 0.79% of the company’s stock.

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.