Lee Johnson Capital Management LLC trimmed its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) by 40.4% in the first quarter, Holdings Channel.com reports. The fund owned 2,311 shares of the data storage provider’s stock after selling 1,565 shares during the quarter. Lee Johnson Capital Management LLC’s holdings in Seagate Technology were worth $905,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in STX. Arrowstreet Capital Limited Partnership boosted its holdings 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 purchasing an additional 2,697,957 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Seagate Technology by 1,510.1% in the 4th 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 purchasing an additional 1,883,769 shares during the period. Norges Bank acquired a new position in shares of Seagate Technology in the 4th quarter worth approximately $498,363,000. Soroban Capital Partners LP raised its holdings in shares of Seagate Technology by 1,468.1% in 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 buying an additional 1,327,197 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Seagate Technology by 102.0% during the 4th 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. 92.87% of the stock is currently owned by institutional investors and hedge funds.
Seagate Technology News Roundup
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: Analysts highlighted Seagate as a momentum pick tied to AI-driven data-center growth, saying demand for large-scale storage solutions could drive upside for STX. Seagate & Another AI Memory Momentum Stock With Big Upside
- Positive Sentiment: JPMorgan reaffirmed an Overweight rating and raised its price target on Seagate to $920 from $775, citing a constructive outlook for pricing and incremental margins. Why JPMorgan Remains Bullish on Seagate Technology Holdings plc (STX)
- Positive Sentiment: More coverage pointed to AI’s data explosion creating a multi-year growth runway for Seagate’s HAMR-based Mozaic platform, reinforcing the case for rising storage demand across cloud and data centers. AI’s Data Explosion Creates a Multi-Year Growth Runway for Seagate
- Positive Sentiment: Memory and storage stocks were broadly stronger after Apple flagged rising memory costs, which helped lift sentiment across the group, including STX. MU, WDC, SNDK, STX Stocks Rally Overnight After Apple Flags Memory Cost Surge
- Neutral Sentiment: One report noted that a broader market rotation favored financials over tech, which could have created some headwind for technology shares despite Seagate-specific bullish catalysts. Financials Rose, Tech Fell Before Kevin Warsh Fed Debut
- Neutral Sentiment: There was also insider selling by Seagate executives, but the article argued it was not necessarily a negative signal for the business outlook. Seagate’s C-Suite Just Sold Stock. It’s Not the Signal You Think.
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 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the previous year, the business earned $1.90 EPS. The business’s quarterly revenue was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities research analysts expect that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.
Seagate Technology Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology’s dividend payout ratio is presently 28.08%.
Insider Activity
In related news, EVP Ban Seng Teh sold 989 shares of Seagate Technology stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $870,507.91. Following the sale, the executive vice president owned 4,290 shares of the company’s stock, valued at approximately $3,776,015.10. This trade represents a 18.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 1,768 shares of Seagate Technology stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $1,556,175.92. Following the completion of the sale, the chief executive officer owned 327,517 shares in the company, valued at $288,277,188.23. This trade represents a 0.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 141,069 shares of company stock worth $107,161,712. Corporate insiders own 0.79% of the company’s stock.
Analyst Upgrades and Downgrades
STX has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Seagate Technology from $775.00 to $920.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. TD Cowen increased their target price 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. Morgan Stanley lifted their price target 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. Rosenblatt Securities boosted their price target on shares of Seagate Technology from $500.00 to $1,000.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Bank of America upped their price objective on shares of Seagate Technology from $900.00 to $1,000.00 in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $831.79.
Seagate Technology Company 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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Want to see what other hedge funds are holding STX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seagate Technology Holdings PLC (NASDAQ:STX – Free Report).
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