Park Capital Management LLC WI Purchases New Position in Seagate Technology Holdings PLC $STX

Key Points

• Park Capital Management LLC acquired a stake in Seagate Technology Holdings PLC, purchasing 3,911 shares valued at approximately $564,000.
• Seagate reported $2.59 EPS for the last quarter, exceeding analysts' expectations and reflecting a year-over-year revenue growth of 29.5%.
• The company has authorized a $5 billion stock buyback plan, indicating confidence in its stock valuation, along with announcing a quarterly dividend of $0.72 per share.

Park Capital Management LLC WI bought a new stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,911 shares of the data storage provider's stock, valued at approximately $564,000.

A number of other hedge funds have also added to or reduced their stakes in STX. JPMorgan Chase & Co. grew its position in Seagate Technology by 12.9% in 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 purchasing an additional 2,161,191 shares in the last quarter. Wellington Management Group LLP grew its position in Seagate Technology by 3,339.4% in the first quarter. Wellington Management Group LLP now owns 933,996 shares of the data storage provider's stock valued at $79,343,000 after purchasing an additional 906,840 shares in the last quarter. Vanguard Group Inc. grew its position in Seagate Technology by 2.7% in the first quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider's stock valued at $2,441,729,000 after purchasing an additional 769,009 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in Seagate Technology in the first quarter valued at $50,792,000. Finally, Woodline Partners LP grew its position in Seagate Technology by 430.3% in the fourth quarter. Woodline Partners LP now owns 452,496 shares of the data storage provider's stock valued at $39,055,000 after purchasing an additional 367,160 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

Analyst Upgrades and Downgrades

STX has been the subject of a number of analyst reports. Bank of America raised their target price on shares of Seagate Technology from $170.00 to $215.00 and gave the company a "buy" rating in a research report on Monday. UBS Group lifted their price objective on shares of Seagate Technology from $85.00 to $155.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. 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 report on Wednesday, July 30th. Barclays lifted their price objective on shares of Seagate Technology from $180.00 to $200.00 and gave the company an "equal weight" rating in a research report on Thursday, September 11th. Finally, Benchmark lifted their price objective on shares of Seagate Technology from $165.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday. Fifteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $177.95.

Seagate Technology Price Performance

Seagate Technology stock traded up $4.59 during midday trading on Friday, hitting $221.23. The company's stock had a trading volume of 4,831,576 shares, compared to its average volume of 3,534,323. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $221.66. The company has a 50-day moving average price of $166.69 and a two-hundred day moving average price of $125.54. The company has a market cap of $47.12 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 1.25 and a beta of 1.53.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share 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 analysts' expectations of $2.40 billion. During the same quarter in the previous year, the company earned $1.05 EPS. The business's 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. Sell-side analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current 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. The ex-dividend date is Tuesday, September 30th. This represents a $2.88 annualized dividend and a yield of 1.3%. Seagate Technology's payout ratio is 42.54%.

Seagate Technology announced that its Board of Directors has initiated a stock repurchase plan 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 repurchase up to 21.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other Seagate Technology news, EVP John Christopher Morris sold 377 shares of the firm's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $211.26, for a total value of $79,645.02. Following the transaction, the executive vice president directly owned 13,238 shares of the company's stock, valued at $2,796,659.88. This trade represents a 2.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $153.75, for a total transaction of $3,075,000.00. Following the completion of the transaction, the chief executive officer directly owned 478,912 shares in the company, valued at approximately $73,632,720. This represents a 4.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,935 shares of company stock worth $12,289,616. 0.79% of the stock is currently owned by insiders.

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.