Legacy Capital Group California Inc. decreased its holdings in Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) by 50.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,766 shares of the data storage provider’s stock after selling 2,841 shares during the period. Legacy Capital Group California Inc.’s holdings in Seagate Technology were worth $1,084,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Seagate Technology by 1,510.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock worth $553,125,000 after purchasing an additional 1,883,769 shares during the last quarter. Norges Bank acquired a new position in Seagate Technology during the 4th quarter worth about $498,363,000. Soroban Capital Partners LP grew its holdings in Seagate Technology by 1,468.1% during the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after acquiring an additional 1,327,197 shares during the last quarter. Deutsche Bank AG increased its position in Seagate Technology by 102.0% in the 4th quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider’s stock valued at $440,614,000 after acquiring an additional 807,962 shares in the last quarter. Finally, National Pension Service increased its position in Seagate Technology by 298.7% in the 4th quarter. National Pension Service now owns 997,223 shares of the data storage provider’s stock valued at $274,625,000 after acquiring an additional 747,102 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.
Seagate Technology News Summary
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: Citigroup raised Seagate’s price target to $1,240 from $1,150 and kept a buy rating, reinforcing a bullish view on the company’s upside. Article Title
- Positive Sentiment: Wells Fargo recently upgraded Seagate to Overweight, citing strong demand for high-capacity storage products tied to cloud and AI infrastructure spending. Article Title
- Neutral Sentiment: Seagate continues to be viewed as a beneficiary of AI and cloud storage growth, with commentary highlighting ongoing demand for higher-capacity drives and share repurchase support. Article Title
- Negative Sentiment: A broader selloff in AI and semiconductor stocks, led by SK hynix concerns, is weighing on memory-related names and dragging Seagate lower despite no company-specific earnings update. Article Title
- Negative Sentiment: Related reports show weakness across the memory-storage group, including Micron, SanDisk, and Western Digital, suggesting Seagate is being caught in a sector-wide reset in sentiment. Article Title
Insider Activity
Analyst Ratings Changes
Several research analysts have issued reports on the company. Susquehanna upped their price objective on Seagate Technology from $615.00 to $775.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Citigroup lifted their target price on Seagate Technology from $1,150.00 to $1,240.00 and gave the company a “buy” rating in a research note on Monday. Mizuho boosted their price objective on Seagate Technology from $875.00 to $1,090.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Sanford C. Bernstein raised their target price on shares of Seagate Technology from $620.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Finally, TD Cowen lifted their price target on shares of Seagate Technology from $500.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Twenty-two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $898.52.
View Our Latest Stock Analysis on Seagate Technology
Seagate Technology Trading Down 5.5%
Shares of NASDAQ:STX opened at $860.66 on Tuesday. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. Seagate Technology Holdings PLC has a 52-week low of $138.30 and a 52-week high of $1,145.00. The company has a 50-day simple moving average of $884.34 and a 200 day simple moving average of $576.82. The company has a market capitalization of $192.99 billion, a P/E ratio of 81.66 and a beta of 2.04.
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, beating the consensus estimate of $3.51 by $0.59. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations 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 revenue was up 44.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Sell-side analysts forecast that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.
Seagate Technology Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, June 24th. Seagate Technology’s payout ratio is 28.08%.
Seagate Technology Profile
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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