Praxis Investment Management Inc. Increases Stake in Seagate Technology Holdings PLC $STX

Praxis Investment Management Inc. lifted its position in Seagate Technology Holdings PLC (NASDAQ:STX) by 35.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,943 shares of the data storage provider’s stock after acquiring 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 reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Seagate Technology by 1.0% in the fourth quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock worth $2,587,535,000 after purchasing an additional 94,527 shares during the last quarter. Morgan Stanley grew its stake in shares of Seagate Technology by 5.1% during the fourth quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock valued at $1,464,391,000 after buying an additional 258,151 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Seagate Technology by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock worth $1,343,683,000 after buying an additional 234,436 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Seagate Technology by 8.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider’s stock worth $879,338,000 after buying an additional 243,551 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Seagate Technology by 1,510.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock worth $553,125,000 after acquiring an additional 1,883,769 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 989 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $870,507.91. Following the transaction, the executive vice president directly owned 4,290 shares in the company, valued at approximately $3,776,015.10. This trade represents a 18.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 9,343 shares of Seagate Technology stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $924.42, for a total transaction of $8,636,856.06. Following the transaction, the chief executive officer directly owned 311,517 shares in the company, valued at approximately $287,972,545.14. The trade was a 2.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 151,069 shares of company stock worth $126,191,753 over the last quarter. 0.79% of the stock is currently owned by company insiders.

Key Seagate Technology News

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?

Wall Street Analyst Weigh In

STX has been the topic of several research analyst reports. The Goldman Sachs Group upped their price objective on Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Zacks Research lowered shares of Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Melius Research started coverage on shares of Seagate Technology in a report on Monday, June 29th. They issued a “buy” rating and a $1,600.00 price target on the stock. TD Cowen raised their price target on shares of Seagate Technology from $500.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, China Renaissance lifted their price objective on shares of Seagate Technology from $802.00 to $983.00 in a report on Friday, June 12th. Twenty-one analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $880.52.

Seagate Technology Price Performance

Shares of STX stock opened at $820.16 on Friday. Seagate Technology Holdings PLC has a twelve month low of $138.30 and a twelve month high of $1,145.00. The stock has a market capitalization of $183.90 billion, a price-to-earnings ratio of 77.81 and a beta of 2.04. The stock has a fifty day simple moving average of $853.32 and a two-hundred day simple moving average of $550.33. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter last year, the firm posted $1.90 earnings per share. The business’s revenue for the quarter was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, analysts predict that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 0.4%. Seagate Technology’s payout ratio is currently 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.