Junto Capital Management LP Has $59.21 Million Holdings in Seagate Technology Holdings PLC $STX

Key Points

• Junto Capital Management LP sold 1,710 shares of Seagate Technology Holdings PLC, reducing its stake by 0.2% to approximately 696,971 shares, valued at about $59.2 million.
• Insider sales included EVP Ban Seng Teh selling 63,418 shares for approximately $7.93 million and Director Michael R. Cannon selling 24,190 shares valued at around $2.88 million, indicating significant reductions in their respective holdings.
• Seagate Technology recently announced a quarterly dividend of $0.72 per share, along with a $5 billion stock buyback program, which signals management's belief that the stock is currently undervalued.

Junto Capital Management LP cut its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 0.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 696,971 shares of the data storage provider's stock after selling 1,710 shares during the period. Seagate Technology makes up approximately 1.2% of Junto Capital Management LP's holdings, making the stock its 22nd biggest position. Junto Capital Management LP owned about 0.33% of Seagate Technology worth $59,208,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in STX. JPMorgan Chase & Co. lifted 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 valued at $1,607,321,000 after acquiring an additional 2,161,191 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Seagate Technology by 3,339.4% in the 1st quarter. Wellington Management Group LLP now owns 933,996 shares of the data storage provider's stock valued at $79,343,000 after acquiring an additional 906,840 shares in the last quarter. Vanguard Group Inc. lifted 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 valued at $2,441,729,000 after acquiring an additional 769,009 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Seagate Technology by 2,853.4% in the 4th quarter. Janus Henderson Group PLC now owns 670,976 shares of the data storage provider's stock valued at $57,925,000 after acquiring an additional 648,257 shares in the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Seagate Technology in the 1st quarter valued at approximately $50,792,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Insider Buying and Selling at Seagate Technology

In other news, insider James Ci Lee sold 3,509 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $154.74, for a total transaction of $542,982.66. Following the transaction, the insider owned 1,288 shares in the company, valued at $199,305.12. This represents a 73.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jay L. Geldmacher sold 2,500 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $150.50, for a total transaction of $376,250.00. Following the transaction, the director owned 352 shares in the company, valued at approximately $52,976. This trade represents a 87.66% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,019 shares of company stock worth $16,104,159. Company insiders own 0.81% of the company's stock.

Seagate Technology Trading Up 2.3%

STX stock traded up $4.06 during midday trading on Thursday, reaching $180.38. The company had a trading volume of 2,352,460 shares, compared to its average volume of 3,844,524. The company has a 50 day moving average of $153.42 and a two-hundred day moving average of $117.23. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $180.96. The company has a market capitalization of $38.36 billion, a P/E ratio of 26.66, a PEG ratio of 1.03 and a beta of 1.53.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly 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. 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 for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the business posted $1.05 EPS. Seagate Technology's quarterly 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. On average, sell-side analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology declared that its board has initiated a share repurchase plan on Thursday, May 22nd that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the data storage provider to repurchase up to 21.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Seagate Technology Dividend Announcement

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 paid a dividend of $0.72 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.88 annualized dividend and a dividend yield of 1.6%. Seagate Technology's dividend payout ratio is 42.54%.

Analysts Set New Price Targets

STX has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Seagate Technology from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Susquehanna increased their target price on shares of Seagate Technology from $68.00 to $80.00 and gave the stock a "negative" rating in a research report on Wednesday, July 30th. Wells Fargo & Company increased their target price on shares of Seagate Technology from $122.00 to $160.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Wedbush reiterated an "outperform" rating and issued a $140.00 target price on shares of Seagate Technology in a research report on Wednesday, May 21st. Finally, The Goldman Sachs Group initiated coverage on shares of Seagate Technology in a research report on Thursday, July 10th. They issued a "buy" rating and a $170.00 target price for the company. Fourteen 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 company's stock. According to MarketBeat.com, Seagate Technology has a consensus rating of "Moderate Buy" and an average price target of $154.50.

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.