Defined Wealth Management LLC Takes Position in Seagate Technology Holdings PLC $STX

Key Points

• Defined Wealth Management LLC acquired a new stake in Seagate Technology Holdings PLC, purchasing 1,740 shares valued at approximately $251,000 during the second quarter.
• Analysts have expressed positive outlooks for STX, with multiple firms raising their price targets, indicating a strong consensus with an average target price of $165.58 and a rating of "Moderate Buy."
• Seagate Technology recently announced a $0.72 per share quarterly dividend and approved a share buyback program allowing for repurchase of up to $5.0 billion in shares.

Defined Wealth Management LLC bought a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,740 shares of the data storage provider's stock, valued at approximately $251,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriflex Group Inc. purchased a new stake in Seagate Technology during the 4th quarter valued at approximately $26,000. Elequin Capital LP purchased a new stake in Seagate Technology during the 4th quarter valued at approximately $27,000. Fourth Dimension Wealth LLC purchased a new stake in Seagate Technology during the 4th quarter valued at approximately $27,000. Wayfinding Financial LLC purchased a new stake in Seagate Technology during the 1st quarter valued at approximately $31,000. Finally, Golden State Wealth Management LLC grew its holdings in 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 valued at $39,000 after buying an additional 440 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on STX. Mizuho increased their price objective on shares of Seagate Technology from $160.00 to $245.00 and gave the company an "outperform" rating in a report on Friday. Wells Fargo & Company raised their target price on shares of Seagate Technology from $122.00 to $160.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Robert W. Baird raised their target price on shares of Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. The Goldman Sachs Group began coverage on shares of Seagate Technology in a report on Thursday, July 10th. They issued a "buy" rating and a $170.00 target price for the company. Finally, Wall Street Zen lowered shares of Seagate Technology from a "buy" rating to a "hold" rating in a 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 company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $177.95.

Seagate Technology Trading Up 2.1%

Shares of STX traded up $4.59 during trading hours on Friday, reaching $221.23. 4,831,576 shares of the company traded hands, compared to its average volume of 3,888,000. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $221.66. The stock's fifty day moving average price is $166.69 and its 200 day moving average price is $125.54. The firm has a market cap of $47.12 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 1.23 and a beta of 1.53.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, topping 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 company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. The firm's revenue for the quarter 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, research analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be issued a $0.72 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.88 dividend on an annualized basis and a yield of 1.3%. Seagate Technology's payout ratio is currently 42.54%.

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

Insiders Place Their Bets

In other Seagate Technology news, insider James Ci Lee sold 3,509 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $154.74, for a total value of $542,982.66. Following the completion of the transaction, the insider directly owned 1,288 shares in the company, valued at approximately $199,305.12. The trade was a 73.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John Christopher Morris sold 15,347 shares of the business's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $195.80, for a total transaction of $3,004,942.60. Following the completion of the transaction, the executive vice president owned 9,843 shares of the company's stock, valued at $1,927,259.40. This represents a 60.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,935 shares of company stock valued at $12,289,616 in the last three months. 0.79% of the stock is currently owned by insiders.

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.