Citizens Financial Group Inc. RI grew its holdings in Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) by 14.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,912 shares of the data storage provider’s stock after acquiring an additional 633 shares during the period. Citizens Financial Group Inc. RI’s holdings in Seagate Technology were worth $1,928,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in STX. State Street Corp lifted its holdings in shares of Seagate Technology by 1.0% in the 4th quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock valued at $2,587,535,000 after acquiring an additional 94,527 shares during the last quarter. Morgan Stanley increased its stake in Seagate Technology by 5.1% during the fourth quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock worth $1,464,391,000 after acquiring an additional 258,151 shares during the last quarter. Geode Capital Management LLC raised its position in Seagate Technology by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock valued at $1,343,683,000 after purchasing an additional 234,436 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Seagate Technology by 8.3% during the fourth 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. Finally, Massachusetts Financial Services Co. MA lifted 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 last quarter. 92.87% of the stock is currently owned by institutional investors.
Insider Activity at Seagate Technology
In other news, CFO Gianluca Romano sold 22,488 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total transaction of $17,410,659.36. Following the transaction, the chief financial officer directly owned 42,847 shares of the company’s stock, valued at approximately $33,173,004.34. This trade represents a 34.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 5,626 shares of Seagate Technology stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the sale, the executive vice president directly owned 11,954 shares of the company’s stock, valued at $8,826,474.98. This represents a 32.00% decrease in their position. 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 have sold 151,069 shares of company stock valued at $126,191,753 over the last 90 days. 0.79% of the stock is currently owned by insiders.
Seagate Technology Stock Down 5.5%
Seagate Technology (NASDAQ:STX – Get Free Report) last posted its quarterly 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. 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 for the quarter was up 44.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Analysts anticipate that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.
Seagate Technology Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders 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 was Wednesday, June 24th. Seagate Technology’s dividend payout ratio is currently 28.08%.
More Seagate Technology News
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
Wall Street Analyst Weigh In
STX has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their target price on Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Rosenblatt Securities increased their price target on Seagate Technology from $500.00 to $1,000.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. TD Cowen raised their price target on Seagate Technology from $500.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Loop Capital boosted their price objective on shares of Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Wall Street Zen upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $898.52.
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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