Raymond James Financial Inc. Buys 117,844 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Raymond James Financial Inc. has increased its stake in Seagate Technology Holdings PLC by 44.3%, now owning approximately 383,871 shares valued at around $32.61 million after acquiring an additional 117,844 shares.
• Seagate Technology reported a 29.5% year-over-year revenue increase, achieving $2.44 billion for the quarter and an EPS of $2.59, exceeding analyst expectations.
• The company has initiated a share repurchase program allowing for the buyback of $5.00 billion in shares, indicating management's belief in the stock's undervaluation.

Raymond James Financial Inc. lifted its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 44.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 383,871 shares of the data storage provider's stock after purchasing an additional 117,844 shares during the period. Raymond James Financial Inc. owned about 0.18% of Seagate Technology worth $32,610,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in STX. Dimensional Fund Advisors LP grew its holdings in shares of Seagate Technology by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 982,649 shares of the data storage provider's stock worth $84,814,000 after purchasing an additional 9,821 shares during the last quarter. State of Tennessee Department of Treasury grew its holdings in Seagate Technology by 17.1% during the 4th quarter. State of Tennessee Department of Treasury now owns 62,067 shares of the data storage provider's stock worth $5,357,000 after acquiring an additional 9,064 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Seagate Technology by 71.6% during the 4th quarter. Hsbc Holdings PLC now owns 235,363 shares of the data storage provider's stock worth $20,275,000 after acquiring an additional 98,208 shares in the last quarter. Dark Forest Capital Management LP grew its holdings in Seagate Technology by 36.1% during the 4th quarter. Dark Forest Capital Management LP now owns 6,008 shares of the data storage provider's stock worth $519,000 after acquiring an additional 1,593 shares in the last quarter. Finally, Coppell Advisory Solutions LLC grew its holdings in Seagate Technology by 123.6% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,031 shares of the data storage provider's stock worth $89,000 after acquiring an additional 570 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Insider Activity at Seagate Technology

In related news, Director Michael R. Cannon sold 24,190 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $119.00, for a total value of $2,878,610.00. Following the completion of the transaction, the director directly owned 10,835 shares of the company's stock, valued at $1,289,365. This trade represents a 69.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William D. Mosley sold 54,347 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $130.19, for a total transaction of $7,075,435.93. Following the completion of the transaction, the chief executive officer directly owned 515,677 shares of the company's stock, valued at $67,135,988.63. The trade was a 9.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 343,414 shares of company stock valued at $43,661,770. Company insiders own 0.81% of the company's stock.

Seagate Technology Stock Performance

STX stock opened at $159.21 on Friday. The firm has a market cap of $33.86 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 0.98 and a beta of 1.50. The firm has a 50-day simple moving average of $147.68 and a two-hundred day simple moving average of $113.46. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $160.57.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, beating the consensus estimate of $2.45 by $0.14. The firm 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 was up 29.5% on a year-over-year basis. During the same period last year, the firm posted $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, equities analysts predict that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology declared that its board has initiated a share repurchase program on Thursday, May 22nd that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the data storage provider to purchase up to 21.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 30th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology's dividend payout ratio (DPR) is presently 42.54%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on STX shares. Cantor Fitzgerald upgraded shares of Seagate Technology from a "neutral" rating to an "overweight" rating and set a $175.00 target price on the stock in a report on Wednesday, July 30th. BNP Paribas Exane upgraded shares of Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 target price on the stock in a report on Friday, May 16th. TD Cowen increased their target price on shares of Seagate Technology from $135.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Susquehanna increased their price target on shares of Seagate Technology from $68.00 to $80.00 and gave the company a "negative" rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen lowered shares of Seagate Technology from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Fourteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $151.44.

Seagate Technology Company 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.

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