Eastern Bank lifted its stake in Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) by 14.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,932 shares of the data storage provider’s stock after buying an additional 8,628 shares during the period. Seagate Technology makes up approximately 1.0% of Eastern Bank’s investment portfolio, making the stock its 28th biggest position. Eastern Bank’s holdings in Seagate Technology were worth $67,484,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Bridgewater Advisors Inc. increased its stake in Seagate Technology by 0.9% during the 1st quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock worth $579,000 after acquiring an additional 13 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 15 shares during the period. Beaumont Financial Advisors LLC lifted its position in shares of Seagate Technology by 2.1% during the 1st quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider’s stock valued at $321,000 after acquiring an additional 17 shares during the period. Cornerstone Wealth Group LLC grew its holdings in shares of Seagate Technology by 0.5% during the 1st quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider’s stock worth $1,388,000 after purchasing an additional 19 shares in the last quarter. Finally, WealthCollab LLC grew its holdings in shares of Seagate Technology by 27.4% during the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.
Analysts Set New Price Targets
STX has been the subject of a number of analyst reports. Susquehanna boosted their price target on Seagate Technology from $775.00 to $875.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. TD Cowen increased their price objective on shares of Seagate Technology from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Evercore raised their target price on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Fox Advisors cut shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Finally, Argus boosted their target price on shares of Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $986.00.
Insider Buying and Selling
In other Seagate Technology news, CEO William D. Mosley sold 30,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the sale, the chief executive officer owned 339,591 shares of the company’s stock, valued at approximately $255,131,322.39. The trade was a 8.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the transaction, the executive vice president owned 3,691 shares of the company’s stock, valued at $3,016,580.48. This trade represents a 68.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 143,860 shares of company stock worth $120,918,795 in the last three months. 0.79% of the stock is owned by corporate insiders.
Seagate Technology Stock Performance
NASDAQ:STX opened at $831.06 on Tuesday. Seagate Technology Holdings PLC has a twelve month low of $144.75 and a twelve month high of $1,145.00. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. The stock’s 50-day simple moving average is $897.28 and its 200 day simple moving average is $633.59. The firm has a market capitalization of $186.35 billion, a PE ratio of 59.87 and a beta of 2.06.
Seagate Technology (NASDAQ:STX – Get Free Report) last issued its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping the consensus estimate of $5.10 by $0.61. The firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The business’s quarterly revenue was up 48.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, analysts anticipate that Seagate Technology Holdings PLC will post 33.08 EPS for the current fiscal year.
Seagate Technology Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Thursday, September 24th. Seagate Technology’s dividend payout ratio is currently 21.33%.
Seagate Technology News Summary
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: Long-term AI orders are improving visibility. BNP Paribas highlighted unusually strong, long-term customer commitments, suggesting Seagate may have better revenue visibility than is typical for a cyclical storage company. That could support more durable growth and justify a favorable outlook. BNP Paribas Resets Seagate Target After Stunning AI Signal
- Positive Sentiment: Recent results and guidance exceeded expectations. Seagate reported quarterly earnings of $5.71 per share versus the $5.10 consensus estimate, while revenue of $3.63 billion topped forecasts of $3.50 billion and increased 48.5% year over year. Its $7.10-$7.50 per-share outlook for the next quarter also came in above expectations, reinforcing the AI-driven demand story. Seagate Rallies on Strong Q4 Results and Guidance
- Positive Sentiment: Industry AI spending remains a tailwind. Big Tech is expected to spend more than $750 billion on AI infrastructure in 2026, potentially benefiting Seagate and other storage suppliers as demand for data-center capacity expands. The Zacks Analyst Blog Highlights Micron, Seagate, Western Digital, Sandisk and Vertiv
- Neutral Sentiment: Executive selling was disclosed. EVP James Ci Lee sold 694 shares worth approximately $609,000 under a pre-arranged Rule 10b5-1 trading plan. The sale reduced his holdings by two-thirds, but the scheduled nature of the transaction limits its significance as a signal about management’s outlook.
- Negative Sentiment: Storage stocks faced broad sector pressure. Seagate declined alongside Western Digital, Micron and other memory names as investors cooled on the group. The move suggests profit-taking and concerns about cyclical demand or elevated valuations, with STX trading at a high earnings multiple after a substantial rally. Seagate and Western Digital Dive as Memory Stocks Cool
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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