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

Key Points

• GC Wealth Management RIA LLC purchased 1,984 shares of Seagate Technology in Q2, totaling approximately $286,000, highlighting growing interest in the data storage provider.
• Seagate Technology's latest earnings report showed EPS of $2.59, surpassing expectations, with revenue increasing by 29.5% year-over-year.
• The company declared a quarterly dividend of $0.72 per share, representing an annualized yield of 1.1%, with the payout ratio at 42.54%.

GC Wealth Management RIA LLC bought a new stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,984 shares of the data storage provider's stock, valued at approximately $286,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position 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 purchasing an additional 769,009 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Seagate Technology by 12.9% in the 1st quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider's stock worth $1,607,321,000 after purchasing an additional 2,161,191 shares during the last quarter. Invesco Ltd. boosted its position in shares of Seagate Technology by 3.6% in the 1st quarter. Invesco Ltd. now owns 2,861,418 shares of the data storage provider's stock worth $243,077,000 after purchasing an additional 99,884 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Seagate Technology by 0.8% in the 1st quarter. Royal Bank of Canada now owns 1,628,941 shares of the data storage provider's stock worth $138,378,000 after purchasing an additional 12,424 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Seagate Technology by 4.5% in the 1st quarter. Deutsche Bank AG now owns 1,181,460 shares of the data storage provider's stock worth $100,365,000 after purchasing an additional 50,699 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Trading Up 8.8%

STX stock opened at $256.84 on Thursday. The firm has a market cap of $54.70 billion, a PE ratio of 37.94, a P/E/G ratio of 1.06 and a beta of 1.63. The business's 50-day moving average price is $179.70 and its two-hundred day moving average price is $133.40. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $258.40.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued 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 company had revenue of $2.44 billion for 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%.The company's quarterly revenue was up 29.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, September 30th. Seagate Technology's payout ratio is 42.54%.

Analyst Ratings Changes

Several research analysts have recently issued reports on STX shares. The Goldman Sachs Group started coverage on Seagate Technology in a research report on Thursday, July 10th. They issued a "buy" rating and a $170.00 price target on the stock. Citigroup raised their price target on Seagate Technology from $167.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. Susquehanna raised their price target on Seagate Technology from $68.00 to $80.00 and gave the stock a "negative" rating in a research report on Wednesday, July 30th. Morgan Stanley lifted their target price on Seagate Technology from $168.00 to $265.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Mizuho lifted their target price on Seagate Technology from $160.00 to $245.00 and gave the stock an "outperform" rating in a report on Friday, September 19th. Fifteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $193.32.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 20,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $153.75, for a total value of $3,075,000.00. Following the sale, the chief executive officer directly owned 478,912 shares in the company, valued at $73,632,720. The trade was a 4.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jay L. Geldmacher sold 2,500 shares of the business's 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 55,935 shares of company stock valued at $9,396,416. Corporate insiders own 0.79% of the company's stock.

Seagate Technology Company 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.

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