Mesirow Financial Investment Management Inc. trimmed its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) by 59.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 766 shares of the data storage provider’s stock after selling 1,114 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Seagate Technology were worth $211,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of STX. WCM Investment Management LLC bought a new position in Seagate Technology during the third quarter valued at about $1,187,621,000. Arrowstreet Capital Limited Partnership boosted its stake in Seagate Technology by 1,072.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock valued at $696,262,000 after buying an additional 2,697,957 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in 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 valued at $553,125,000 after buying an additional 1,883,769 shares in the last quarter. Soroban Capital Partners LP boosted its stake in Seagate Technology by 1,468.1% during the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock valued at $204,602,000 after buying an additional 1,327,197 shares in the last quarter. Finally, Trivest Advisors Ltd bought a new position in Seagate Technology during the third quarter valued at about $170,435,000. 92.87% of the stock is owned by institutional investors and hedge funds.
Seagate Technology News Summary
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: Loop Capital raised its price target on Seagate Technology (STX) from $950 to $1,140 and reiterated a buy rating, signaling confidence that AI-driven storage demand and Seagate’s product mix can keep earnings momentum strong.
- Positive Sentiment: Recent market coverage continues to highlight Seagate as a beneficiary of booming AI data center spending, with strong enterprise storage demand and HAMR adoption supporting the company’s growth outlook.
- Neutral Sentiment: Seagate also remains in focus after reporting a strong earnings beat and raising guidance, which reinforces the view that fundamentals are improving even after a sharp run-up in the share price.
- Negative Sentiment: Investor sentiment may be pressured by recent insider selling, as EVP Ban Seng Teh sold shares in two transactions under a pre-arranged 10b5-1 plan, which can still be read cautiously by the market.
- Negative Sentiment: The planned retirement of Lead Independent Director Mike Cannon adds a governance change that could create some uncertainty, even though it does not directly affect operations.
Seagate Technology Stock Performance
Seagate Technology (NASDAQ:STX – Get Free Report) last released its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.59. The business had revenue of $3.11 billion for 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 firm’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same period last year, the firm posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities research analysts predict that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.
Seagate Technology Announces Dividend
The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.4%. Seagate Technology’s dividend payout ratio is currently 28.08%.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on STX. Bank of America raised their target price on Seagate Technology from $700.00 to $840.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Zacks Research raised Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. KeyCorp set a $500.00 target price on Seagate Technology in a research note on Wednesday, January 28th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Seagate Technology in a research note on Wednesday, February 4th. Finally, Sanford C. Bernstein raised their target price on Seagate Technology from $620.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $733.71.
Get Our Latest Stock Report on STX
Insiders Place Their Bets
In other news, Director Stephanie Tilenius sold 1,580 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $766.61, for a total value of $1,211,243.80. Following the completion of the sale, the director directly owned 10,664 shares of the company’s stock, valued at $8,175,129.04. This represents a 12.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gianluca Romano sold 1,902 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $770.00, for a total transaction of $1,464,540.00. Following the completion of the sale, the chief financial officer directly owned 40,945 shares of the company’s stock, valued at $31,527,650. This trade represents a 4.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 118,283 shares of company stock valued at $65,989,618 over the last ninety days. Insiders own 0.79% of the company’s stock.
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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