Cvfg LLC purchased a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) in the first quarter, HoldingsChannel.com reports. The firm purchased 22,691 shares of the data storage provider’s stock, valued at approximately $8,889,000. Seagate Technology comprises 1.1% of Cvfg LLC’s holdings, making the stock its 21st biggest holding.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in STX. Marino Stram & Associates LLC acquired a new position in shares of Seagate Technology in the 1st quarter valued at about $239,000. Flatrock Wealth Partners LLC acquired a new stake in Seagate Technology during the 1st quarter worth approximately $220,000. Clearwave Capital LLC purchased a new position in Seagate Technology in the first quarter valued at approximately $268,000. Resonant Capital Advisors LLC lifted its position in Seagate Technology by 5.1% during the first quarter. Resonant Capital Advisors LLC now owns 1,249 shares of the data storage provider’s stock valued at $490,000 after buying an additional 61 shares in the last quarter. Finally, Swedbank AB lifted its position in Seagate Technology by 67.6% during the first quarter. Swedbank AB now owns 709,160 shares of the data storage provider’s stock valued at $277,821,000 after buying an additional 285,949 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Seagate Technology
In related news, CFO Gianluca Romano sold 903 shares of Seagate Technology stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $794,811.57. Following the completion of the transaction, the chief financial officer directly owned 42,860 shares in the company, valued at approximately $37,724,943.40. This trade represents a 2.06% 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. Also, EVP Ban Seng Teh sold 989 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $870,507.91. Following the completion of the sale, the executive vice president directly owned 4,290 shares of the company’s stock, valued at approximately $3,776,015.10. This represents a 18.73% 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. Company insiders own 0.79% of the company’s stock.
Seagate Technology Stock Performance
Seagate Technology (NASDAQ:STX – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The business’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Analysts forecast that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.
Seagate Technology Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th were given a $0.74 dividend. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. Seagate Technology’s payout ratio is presently 28.08%.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on STX. China Renaissance increased their price objective on shares of Seagate Technology from $802.00 to $983.00 in a research report on Friday, June 12th. Morgan Stanley lifted their target price on shares of Seagate Technology from $767.00 to $1,035.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Barclays increased their price target on Seagate Technology from $750.00 to $1,000.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Evercore raised their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Finally, Argus boosted their price objective on Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Twenty-one research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $880.52.
Check Out Our Latest Stock Report on STX
More Seagate Technology News
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: Seagate was named a top momentum stock for July, with screens pointing to strong price trends, earnings surprises, and growth expectations. Micron & 2 Momentum Stocks to Buy in July for Explosive Upside
- Positive Sentiment: Analysts said Seagate has the right setup for another earnings beat, pointing to its strong track record of topping estimates. Will Seagate (STX) Beat Estimates Again in Its Next Earnings Report?
- Positive Sentiment: BofA reiterated its Buy rating and raised its price target, reinforcing the view that Seagate can keep benefiting from AI-driven storage demand. Is Seagate (STX) the Best Pick and Shovel AI Stock to Invest In?
- Positive Sentiment: Sector commentary said memory and storage stocks are rebounding as analysts point to attractive entry points, pricing strength, and persistent AI demand. Memory stocks rebound as analysts flag a buying opportunity
- Positive Sentiment: Another sector note argued that Seagate is seeing margin expansion and tight supply conditions, supporting the bullish AI hardware narrative. Flash Crash or Cash? The AI Hardware Reset Investors Can’t Ignore (STX)
- Neutral Sentiment: One valuation-focused article said Seagate has had a huge multi-year run and now trades at a premium, so investors are watching whether the stock has already priced in much of the good news. Seagate (STX) Stock Trades At A Premium As Its 14x Run Tests Fair Value
- Neutral Sentiment: Brokerage consensus remains “Moderate Buy,” which supports sentiment but does not add a fresh near-term catalyst. Seagate Technology Holdings PLC (NASDAQ:STX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages
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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