Praxis Investment Management Inc. Takes Position in Seagate Technology Holdings PLC $STX

Key Points

• Praxis Investment Management Inc. has acquired a new stake in Seagate Technology, purchasing 2,560 shares valued at approximately $369,000 during the second quarter.
• Seagate Technology's recent earnings report showed an EPS of $2.59, exceeding expectations, with revenue of $2.44 billion, reflecting a year-over-year growth of 29.5%.
• The company declared a quarterly dividend of $0.72, resulting in an annualized dividend of $2.88 and a yield of 1.3% as of the ex-dividend date.

Praxis Investment Management Inc. bought a new stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,560 shares of the data storage provider's stock, valued at approximately $369,000.

A number of other hedge funds have also made changes to their positions in the business. Harbor Asset Planning Inc. purchased a new position in shares of Seagate Technology in the 2nd quarter valued at $27,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in shares of Seagate Technology in the 2nd quarter valued at $17,794,000. Hamilton Point Investment Advisors LLC purchased a new position in shares of Seagate Technology in the 2nd quarter valued at $326,000. Sagespring Wealth Partners LLC purchased a new position in shares of Seagate Technology in the 2nd quarter valued at $234,000. Finally, RFG Advisory LLC purchased a new position in shares of Seagate Technology in the 2nd quarter valued at $527,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Insiders Place Their Bets

In other news, EVP Ban Seng Teh sold 5,905 shares of Seagate Technology stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $155.00, for a total value of $915,275.00. Following the completion of the transaction, the executive vice president directly owned 6,147 shares of the company's stock, valued at approximately $952,785. The trade was a 49.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $249.90, for a total transaction of $4,998,000.00. Following the completion of the transaction, the chief executive officer directly owned 485,668 shares of the company's stock, valued at $121,368,433.20. This trade represents a 3.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 75,620 shares of company stock worth $14,464,056. Corporate insiders own 0.79% of the company's stock.

Seagate Technology Stock Performance

STX opened at $225.40 on Friday. The company has a 50-day moving average of $198.09 and a 200-day moving average of $145.45. The company has a market capitalization of $48.00 billion, a P/E ratio of 33.29, a PEG ratio of 1.01 and a beta of 1.63. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $264.83.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its 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 during the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The company's revenue was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, sell-side analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th were issued a $0.72 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.88 annualized dividend and a dividend yield of 1.3%. Seagate Technology's payout ratio is 42.54%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Mizuho lifted their price target on shares of Seagate Technology from $245.00 to $280.00 and gave the stock an "outperform" rating in a research note on Friday. Susquehanna lifted their price target on shares of Seagate Technology from $68.00 to $80.00 and gave the stock a "negative" rating in a research note on Wednesday, July 30th. Bank of America lifted their price target on shares of Seagate Technology from $215.00 to $255.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Barclays lifted their price target on shares of Seagate Technology from $180.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 11th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Seagate Technology in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $229.40.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.