Seagate Technology Holdings PLC $STX Holdings Boosted by Panoramic Capital LLC

Key Points

• Panoramic Capital LLC significantly increased its stake in Seagate Technology Holdings PLC by 591.8%, owning a total of 131,433 shares, which constitutes approximately 11.9% of its investment portfolio.
• Seagate Technology recently reported a quarterly earnings per share (EPS) of $2.59, surpassing analyst expectations and showing a revenue increase of 29.5% compared to the prior year.
• The company also announced a $0.72 quarterly dividend, with an annualized yield of 1.5%, set to be paid on October 9th to investors on record by September 30th.

Panoramic Capital LLC lifted its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 591.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 131,433 shares of the data storage provider's stock after acquiring an additional 112,433 shares during the period. Seagate Technology accounts for approximately 11.9% of Panoramic Capital LLC's portfolio, making the stock its biggest position. Panoramic Capital LLC owned about 0.06% of Seagate Technology worth $11,165,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. AXA S.A. raised its stake in Seagate Technology by 465.4% during the fourth quarter. AXA S.A. now owns 19,150 shares of the data storage provider's stock worth $1,653,000 after purchasing an additional 15,763 shares during the period. Centiva Capital LP purchased a new stake in shares of Seagate Technology during the 4th quarter valued at approximately $566,000. Cetera Investment Advisers grew its position in Seagate Technology by 3.8% in the fourth quarter. Cetera Investment Advisers now owns 55,069 shares of the data storage provider's stock worth $4,753,000 after acquiring an additional 2,038 shares during the period. Deutsche Bank AG increased its stake in Seagate Technology by 53.7% during the fourth quarter. Deutsche Bank AG now owns 1,130,761 shares of the data storage provider's stock worth $97,596,000 after acquiring an additional 394,908 shares during the last quarter. Finally, Ethic Inc. raised its position in Seagate Technology by 7.7% in the fourth quarter. Ethic Inc. now owns 18,592 shares of the data storage provider's stock valued at $1,605,000 after purchasing an additional 1,324 shares during the period. Hedge funds and other institutional investors own 92.87% of the company's stock.

Seagate Technology Price Performance

Shares of NASDAQ STX traded up $3.77 during mid-day trading on Thursday, hitting $196.81. The company had a trading volume of 3,624,671 shares, compared to its average volume of 3,862,571. The company has a market capitalization of $41.86 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53. The business's 50-day simple moving average is $157.87 and its 200 day simple moving average is $120.23. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $199.24.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.14. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.Seagate Technology's revenue was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology announced that its board has authorized a share repurchase program 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 buy up to 21.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.5%. The ex-dividend date is Tuesday, September 30th. Seagate Technology's payout ratio is 42.54%.

Insider Activity

In other news, EVP Ban Seng Teh sold 1,724 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $151.61, for a total value of $261,375.64. Following the sale, the executive vice president directly owned 6,147 shares in the company, valued at approximately $931,946.67. This trade represents a 21.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Ci Lee sold 1,116 shares of Seagate Technology stock in a transaction on Friday, August 1st. The stock was sold at an average price of $153.36, for a total transaction of $171,149.76. Following the sale, the insider directly owned 257 shares of the company's stock, valued at approximately $39,413.52. This trade represents a 81.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,078 shares of company stock valued at $8,561,503. 0.81% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

STX has been the subject of a number of research analyst reports. Rosenblatt Securities increased their price target on Seagate Technology from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Citigroup increased their price objective on shares of Seagate Technology from $167.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday. Cantor Fitzgerald raised Seagate Technology from a "neutral" rating to an "overweight" rating and set a $175.00 target price on the stock in a research report on Wednesday, July 30th. Susquehanna upped their price target on Seagate Technology from $68.00 to $80.00 and gave the stock a "negative" rating in a research note on Wednesday, July 30th. Finally, BNP Paribas Exane raised Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 price objective for the company in a research note on Friday, May 16th. Fourteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Seagate Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $158.11.

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.