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

Key Points

• Financiere des Professionnels Fonds d'investissement inc. has acquired a new position in Seagate Technology Holdings PLC, purchasing 11,243 shares valued at approximately $1.62 million.
• Seagate Technology reported a quarterly earnings per share (EPS) of $2.59, beating analysts' estimates, with revenue increasing by 29.5% year-over-year.
• Seagate Technology recently declared a quarterly dividend of $0.72 per share, with an annualized yield of 1.4% and a dividend payout ratio of 42.54%.

Financiere des Professionnels Fonds d investissement inc. purchased a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 11,243 shares of the data storage provider's stock, valued at approximately $1,623,000.

A number of other institutional investors and hedge funds also recently modified their holdings of STX. Quantinno Capital Management LP lifted its position in shares of Seagate Technology by 52.6% during the 4th quarter. Quantinno Capital Management LP now owns 35,378 shares of the data storage provider's stock valued at $3,054,000 after acquiring an additional 12,190 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Seagate Technology by 7.4% during the 4th quarter. ProShare Advisors LLC now owns 55,821 shares of the data storage provider's stock valued at $4,818,000 after acquiring an additional 3,869 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Seagate Technology by 133.1% during the 4th quarter. Tidal Investments LLC now owns 12,681 shares of the data storage provider's stock valued at $1,094,000 after acquiring an additional 7,240 shares during the last quarter. Vident Advisory LLC lifted its position in shares of Seagate Technology by 39.6% during the 4th quarter. Vident Advisory LLC now owns 8,571 shares of the data storage provider's stock valued at $740,000 after acquiring an additional 2,432 shares during the last quarter. Finally, Woodline Partners LP lifted its position in shares of Seagate Technology by 430.3% during the 4th quarter. Woodline Partners LP now owns 452,496 shares of the data storage provider's stock valued at $39,055,000 after acquiring an additional 367,160 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Trading Up 1.5%

Seagate Technology stock traded up $3.28 during mid-day trading on Thursday, hitting $216.64. 3,041,965 shares of the company's stock were exchanged, compared to its average volume of 3,497,117. The stock has a market cap of $46.14 billion, a P/E ratio of 32.00, a P/E/G ratio of 1.23 and a beta of 1.53. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $219.53. The stock has a 50 day moving average of $165.21 and a two-hundred day moving average of $124.66.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, topping the consensus estimate of $2.45 by $0.14. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The business's quarterly revenue was up 29.5% on a year-over-year basis. During the same period in the prior 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, research analysts predict that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology announced that its board has authorized a stock buyback plan on Thursday, May 22nd that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the data storage provider to reacquire up to 21.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology's dividend payout ratio (DPR) is currently 42.54%.

Insider Buying and Selling

In related news, Director Jay L. Geldmacher sold 2,500 shares of the stock in a transaction dated 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 sale, the director owned 352 shares in the company, valued at approximately $52,976. This trade represents a 87.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the 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 sale, the chief executive officer owned 478,912 shares of the company's stock, valued at approximately $73,632,720. The trade was a 4.01% decrease in their position. 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 quarter. Insiders own 0.79% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Benchmark increased their price objective on Seagate Technology from $165.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday. Cantor Fitzgerald upgraded Seagate Technology from a "neutral" rating to an "overweight" rating and set a $175.00 target price for the company in a report on Wednesday, July 30th. Wall Street Zen lowered Seagate Technology from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Barclays increased their target price on Seagate Technology from $180.00 to $200.00 and gave the company an "equal weight" rating in a report on Thursday, September 11th. Finally, Wedbush restated an "outperform" rating and issued a $140.00 target price on shares of Seagate Technology in a report on Wednesday, May 21st. Fifteen 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $170.05.

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.