First Trust Advisors LP trimmed its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) by 4.0% in the 1st quarter, HoldingsChannel reports. The firm owned 536,658 shares of the data storage provider’s stock after selling 22,647 shares during the period. First Trust Advisors LP’s holdings in Seagate Technology were worth $210,241,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted 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 buying an additional 1,883,769 shares during the period. Norges Bank purchased a new stake in shares of Seagate Technology during the fourth quarter worth approximately $498,363,000. Soroban Capital Partners LP increased its stake in shares of 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 worth $204,602,000 after buying an additional 1,327,197 shares during the period. Deutsche Bank AG raised its holdings in 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 valued at $440,614,000 after acquiring an additional 807,962 shares in the last quarter. Finally, National Pension Service raised its holdings in Seagate Technology by 298.7% in the fourth quarter. National Pension Service now owns 997,223 shares of the data storage provider’s stock valued at $274,625,000 after acquiring an additional 747,102 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.
Wall Street Analyst Weigh In
STX has been the subject of several analyst reports. Citigroup boosted their price target on shares of Seagate Technology from $1,150.00 to $1,240.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Evercore raised their price objective 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. Zacks Research cut shares of Seagate Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Wells Fargo & Company upgraded shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $900.00 to $1,100.00 in a research note on Friday, July 10th. Finally, Cantor Fitzgerald increased their target price on Seagate Technology from $1,000.00 to $1,300.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $898.52.
Seagate Technology News Roundup
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: Seagate is being viewed as undervalued on the back of fresh AI demand news, with one report suggesting the stock could be 34% below fair value as investors reassess its role in the AI infrastructure buildout.
- Positive Sentiment: Analyst coverage is turning supportive, with Zacks noting that Seagate has the ingredients for a possible earnings beat and including it among favored technology names ahead of results.
- Positive Sentiment: A comparison of SanDisk and Seagate’s revenue trends kept attention on memory and storage stocks, reinforcing the idea that AI-driven demand for NAND, SSDs, and related storage products could support Seagate’s growth story.
- Neutral Sentiment: Broader market commentary also pointed to chip stocks leading a rebound and volatility in the AI trade, which may be helping sentiment across the group without adding company-specific news.
Seagate Technology Stock Performance
Shares of STX opened at $908.10 on Thursday. The company has a market capitalization of $203.62 billion, a price-to-earnings ratio of 86.16 and a beta of 2.04. Seagate Technology Holdings PLC has a 52-week low of $138.30 and a 52-week high of $1,145.00. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The stock has a 50 day moving average price of $889.85 and a 200 day moving average price of $604.10.
Seagate Technology (NASDAQ:STX – Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. The company 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 firm’s revenue for the quarter was up 44.1% on a year-over-year basis. During the same quarter last year, the company earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Research analysts predict that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.
Seagate Technology Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Wednesday, June 24th. Seagate Technology’s dividend payout ratio (DPR) is 28.08%.
Insider Activity at Seagate Technology
In other Seagate Technology news, EVP Ban Seng Teh sold 989 shares of the business’s 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 completion of the sale, the executive vice president owned 4,290 shares in the company, valued at approximately $3,776,015.10. The trade was a 18.73% decrease in their ownership of the stock. 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, CFO Gianluca Romano sold 903 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $794,811.57. Following the completion of the sale, the chief financial officer directly owned 42,860 shares of the company’s stock, valued at $37,724,943.40. The trade was a 2.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 151,069 shares of company stock valued at $126,191,753 over the last quarter. 0.79% of the stock is owned by insiders.
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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