Nishkama Capital LLC Purchases Shares of 55,967 Seagate Technology Holdings PLC $STX

Key Points

• Nishkama Capital LLC invested approximately $4.75 million in Seagate Technology by purchasing 55,967 shares, making it the firm's 22nd largest holding.
• Seagate Technology's stock has a recent price-to-earnings ratio of 23.52, with a market cap of $33.86 billion and has seen a significant increase in revenue by 29.5% year-over-year.
• The company has initiated a $5 billion stock buyback plan and announced a quarterly dividend of $0.72 per share, reflecting confidence in its undervalued stock and providing returns to shareholders.

Nishkama Capital LLC purchased a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 55,967 shares of the data storage provider's stock, valued at approximately $4,754,000. Seagate Technology comprises about 0.5% of Nishkama Capital LLC's portfolio, making the stock its 22nd biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Johnson Financial Group Inc. boosted its holdings in Seagate Technology by 22.7% in the 4th quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider's stock worth $52,000 after buying an additional 112 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in Seagate Technology by 0.9% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 15,247 shares of the data storage provider's stock valued at $1,327,000 after purchasing an additional 134 shares during the period. QRG Capital Management Inc. boosted its holdings in Seagate Technology by 1.2% in the 1st quarter. QRG Capital Management Inc. now owns 10,876 shares of the data storage provider's stock valued at $924,000 after purchasing an additional 134 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Seagate Technology by 0.4% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 40,449 shares of the data storage provider's stock valued at $3,436,000 after purchasing an additional 144 shares during the period. Finally, Prosperity Consulting Group LLC boosted its holdings in Seagate Technology by 4.5% in the 4th quarter. Prosperity Consulting Group LLC now owns 3,459 shares of the data storage provider's stock valued at $299,000 after purchasing an additional 150 shares during the period. Institutional investors own 92.87% of the company's stock.

Insider Activity

In other news, insider James Ci Lee sold 1,116 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $153.36, for a total transaction of $171,149.76. Following the completion of the sale, the insider directly owned 257 shares in the company, valued at approximately $39,413.52. This represents a 81.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $376,250.00. Following the transaction, the director owned 352 shares in the company, valued at $52,976. This represents a 87.66% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 343,414 shares of company stock valued at $43,661,770. Company insiders own 0.81% of the company's stock.

Seagate Technology Trading Up 3.0%

STX stock opened at $159.21 on Monday. The firm's 50-day moving average price is $147.68 and its two-hundred day moving average price is $113.58. The stock has a market capitalization of $33.86 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 0.98 and a beta of 1.50. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $160.57.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results 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. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. Seagate Technology's revenue for the quarter 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. Equities analysts predict that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology declared 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 reacquire up to 21.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Tuesday, September 30th. Seagate Technology's dividend payout ratio is currently 42.54%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on STX. Citigroup boosted their price objective on Seagate Technology from $140.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Benchmark lifted their price objective on shares of Seagate Technology from $128.00 to $165.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Cantor Fitzgerald raised shares of Seagate Technology from a "neutral" rating to an "overweight" rating and set a $175.00 price objective for the company in a report on Wednesday, July 30th. Bank of America lifted their price objective on shares of Seagate Technology from $145.00 to $165.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, Barclays lifted their price objective on shares of Seagate Technology from $90.00 to $125.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Fourteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $151.44.

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.

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