Kwmg LLC lowered its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) by 11.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,210 shares of the data storage provider’s stock after selling 5,161 shares during the quarter. Seagate Technology accounts for about 2.6% of Kwmg LLC’s holdings, making the stock its 9th largest position. Kwmg LLC’s holdings in Seagate Technology were worth $35,243,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its stake in Seagate Technology by 8.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider’s stock valued at $879,338,000 after purchasing an additional 243,551 shares during the period. Wellington Management Group LLP boosted its position in shares of Seagate Technology by 2,655.9% in the second quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock worth $2,329,641,000 after buying an additional 2,326,538 shares during the period. Deutsche Bank AG boosted its position in shares of Seagate Technology by 102.0% in the fourth quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider’s stock worth $440,614,000 after buying an additional 807,962 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Seagate Technology by 3,872.1% during the first quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock valued at $378,985,000 after buying an additional 943,170 shares in the last quarter. Finally, Amundi grew its holdings in shares of Seagate Technology by 32.2% during the first quarter. Amundi now owns 965,565 shares of the data storage provider’s stock valued at $378,267,000 after buying an additional 235,359 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.
More Seagate Technology News
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: AI data-center construction is driving strong demand for high-capacity HDDs, which offer lower-cost storage for the massive datasets created by AI workloads. This supports Seagate’s nearline-drive business and its growth outlook. Seagate vs. Western Digital: Which HDD Stock Has More Room to Run?
- Positive Sentiment: Some analysts argue that the earlier selloff was excessive because Seagate reportedly has nearline-drive contracts extending into 2027, potentially providing visibility despite near-term competitive concerns. Morgan Stanley also reportedly maintained a Buy rating. Morgan Stanley Remains a Buy on Seagate Tech
- Neutral Sentiment: Seagate is reportedly competing with Toshiba to acquire TDK’s magnetic-heads business. The deal could strengthen Seagate’s supply chain and technology position, but a bidding contest could require several billion dollars and increase execution and financial risks. Seagate, Western Digital stocks are falling again
- Negative Sentiment: Toshiba’s plan to double HDD production has revived fears that additional supply will weaken pricing, reduce scarcity and erode Seagate’s elevated margins. The news also pressured Western Digital, signaling a broader sector repricing. Seagate Stock Is Falling: The Hot Memory Play Has a Big Toshiba Problem
- Negative Sentiment: Chief Executive William Mosley’s reported sale of approximately $17.4 million in STX shares shortly before the Toshiba announcement has added to investor unease, even though the transaction does not by itself indicate a change in business fundamentals. Seagate CEO Sold $17.4 Million Before Toshiba Drop
Seagate Technology Stock Down 0.6%
Seagate Technology (NASDAQ:STX – Get Free Report) last posted its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. The firm had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The company’s revenue was up 48.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Analysts anticipate that Seagate Technology Holdings PLC will post 35.7 EPS for the current fiscal year.
Seagate Technology Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be issued a $0.74 dividend. The ex-dividend date is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. Seagate Technology’s dividend payout ratio is currently 21.33%.
Insider Buying and Selling at Seagate Technology
In other Seagate Technology news, CEO William D. Mosley sold 11,002 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $935.60, for a total transaction of $10,293,471.20. Following the transaction, the chief executive officer directly owned 362,108 shares of the company’s stock, valued at $338,788,244.80. This represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Teh sold 52,730 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total value of $41,239,078.40. Following the completion of the sale, the executive vice president directly owned 5,810 shares of the company’s stock, valued at $4,543,884.80. This represents a 90.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 466,959 shares of company stock valued at $378,840,741. Company insiders own 0.51% of the company’s stock.
Analysts Set New Price Targets
STX has been the subject of several research analyst reports. TD Cowen increased their price objective on Seagate Technology from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,300.00 target price on shares of Seagate Technology in a report on Wednesday, July 29th. Morgan Stanley increased their price target on shares of Seagate Technology from $1,035.00 to $1,187.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Fox Advisors cut shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. Finally, China Renaissance boosted their price objective on shares of Seagate Technology from $802.00 to $983.00 in a research report on Friday, June 12th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $986.00.
View Our Latest Analysis on STX
About Seagate Technology
Seagate Technology Holdings plc is a data storage technology company that designs, manufactures and supplies solutions for storing, managing and accessing digital information. Its product portfolio is centered on hard disk drives (HDDs), including high-capacity drives used in cloud data centers, enterprise environments, surveillance systems, network-attached storage and personal computing.
The company also offers solid-state drives (SSDs), storage systems, external storage products and related services.
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