Praxis Investment Management Inc. Purchases 2,328 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Praxis Investment Management increased its Seagate Technology stake by 35.2% in the first quarter, buying 2,328 additional shares and bringing its total holding to 8,943 shares worth about $3.5 million.
• Analyst sentiment remains broadly positive, with several firms raising price targets and Zacks upgrading Seagate to Strong Buy; the stock currently has a consensus rating of Moderate Buy and an average target price of $880.52.
• Seagate reported stronger-than-expected quarterly results, posting $4.10 EPS on $3.11 billion in revenue, and it also announced a quarterly dividend of $0.74 per share payable July 7.

Praxis Investment Management Inc. lifted its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 35.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,943 shares of the data storage provider's stock after buying an additional 2,328 shares during the quarter. Praxis Investment Management Inc.'s holdings in Seagate Technology were worth $3,504,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Koshinski Asset Management Inc. bought a new stake in Seagate Technology during the first quarter valued at about $224,000. V Square Quantitative Management LLC boosted its stake in shares of Seagate Technology by 9.1% in the first quarter. V Square Quantitative Management LLC now owns 4,347 shares of the data storage provider's stock worth $1,703,000 after acquiring an additional 363 shares during the period. HB Wealth Management LLC grew its position in shares of Seagate Technology by 31.4% during the first quarter. HB Wealth Management LLC now owns 7,012 shares of the data storage provider's stock worth $2,747,000 after purchasing an additional 1,674 shares in the last quarter. Baer Investment Advisory LLC purchased a new stake in shares of Seagate Technology during the first quarter worth about $297,000. Finally, Turtle Creek Wealth Advisors LLC raised its stake in Seagate Technology by 26.2% during the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 1,586 shares of the data storage provider's stock valued at $621,000 after purchasing an additional 329 shares during the period. Institutional investors own 92.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. TD Cowen boosted their price target on Seagate Technology from $500.00 to $850.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Susquehanna increased their price objective on shares of Seagate Technology from $485.00 to $615.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Mizuho lifted their price objective on shares of Seagate Technology from $875.00 to $1,090.00 and gave the company an "outperform" rating in a research report on Monday, June 8th. Argus upped their target price on shares of Seagate Technology from $450.00 to $750.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Finally, Zacks Research cut shares of Seagate Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $880.52.

Key Headlines Impacting Seagate Technology

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Zacks upgraded Seagate to Strong Buy, citing improving earnings expectations and bullish momentum around the company’s outlook. Seagate (STX) Upgraded to Strong Buy: Here's What You Should Know
• Positive Sentiment: Another Zacks note argued Seagate remains an attractive growth stock, pointing to strong business fundamentals and potential for continued upside. Seagate (STX) is an Incredible Growth Stock: 3 Reasons Why
• Positive Sentiment: Analysts also highlighted Seagate’s surging data center business, helped by cloud demand, Mozaic adoption, and long-term supply agreements that could support revenue growth through fiscal 2027. Can Seagate's Data Center Business Maintain its Growth Momentum?

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 989 shares of the company's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $870,507.91. Following the sale, the executive vice president directly owned 4,290 shares in the company, valued at approximately $3,776,015.10. This represents a 18.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 903 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $794,811.57. Following the completion of the transaction, the chief financial officer directly owned 42,860 shares of the company's stock, valued at approximately $37,724,943.40. The trade was a 2.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 151,069 shares of company stock valued at $126,191,753. Corporate insiders own 0.79% of the company's stock.

Seagate Technology Stock Performance

NASDAQ:STX opened at $820.16 on Friday. The company has a market cap of $183.90 billion, a price-to-earnings ratio of 77.81 and a beta of 2.04. Seagate Technology Holdings PLC has a 1 year low of $138.30 and a 1 year high of $1,145.00. The stock's 50 day simple moving average is $853.32 and its two-hundred day simple moving average is $550.33. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating analysts' consensus estimates of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the prior year, the company earned $1.90 EPS. The company's quarterly revenue was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities analysts anticipate that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be issued a $0.74 dividend. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. Seagate Technology's payout ratio is 28.08%.

About Seagate Technology

Seagate Technology NASDAQ: STX is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm's product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate's products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.

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