BTC Capital Management Inc. Sells 2,371 Shares of Seagate Technology Holdings PLC $STX

BTC Capital Management Inc. decreased its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 8.9% during the first quarter, HoldingsChannel reports. The firm owned 24,244 shares of the data storage provider’s stock after selling 2,371 shares during the period. BTC Capital Management Inc.’s holdings in Seagate Technology were worth $9,496,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its position in shares of Seagate Technology by 1,072.5% during the 3rd 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 during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Seagate Technology by 1,510.1% during 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 in the last quarter. Norges Bank bought a new stake in Seagate Technology in the 4th quarter worth approximately $498,363,000. Soroban Capital Partners LP lifted its position in 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 during the last quarter. Finally, Deutsche Bank AG boosted its stake 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 worth $440,614,000 after buying an additional 807,962 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on STX. Mizuho increased their price target on shares of Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Barclays upped their price objective on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Loop Capital increased their target price on shares of Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a report on Friday, May 15th. Argus lifted their target price on shares of Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, The Goldman Sachs Group boosted their price target on shares of Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $831.79.

Key Seagate Technology News

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Seagate is still being highlighted as an AI data storage beneficiary, with fresh commentary suggesting the company could continue to gain from rising demand for storage tied to AI infrastructure. Seagate (STX) Gets Fresh Backing As An AI Data Storage Winner
• Positive Sentiment: Investor enthusiasm around AI infrastructure remains supportive for the sector after strong forecasts from Micron and Qualcomm sparked a broad rally in chip and memory stocks, reinforcing the bullish case for Seagate’s storage products. Micron and Qualcomm forecasts ignite $400 billion AI chip stock rally
• Neutral Sentiment: Seagate has been one of the market’s biggest AI-related winners this year, and some recent articles argue the stock may still have room to run after its huge year-to-date advance. The smart money agrees that Seagate stock still has room to surge higher
• Neutral Sentiment: Stanley Druckenmiller’s AI infrastructure bets have kept attention on the broader theme, which can indirectly support investor interest in Seagate as part of the AI hardware supply chain. Stanley Druckenmiller Backs These 3 AI Infrastructure Stocks: Should You Follow?
• Negative Sentiment: Sentiment weakened after reports that SK Hynix is slowing high-bandwidth memory expansion, which rattled the AI-chip complex and pressured Seagate along with other memory/storage names. Why Seagate (STX) Stock Is Falling Today
• Negative Sentiment: The stock is also seeing profit-taking after its massive 2026 rally, with investors increasingly questioning whether valuations can keep up with the speed of the move higher.

Insider Buying and Selling

In other Seagate Technology news, EVP John Christopher Morris sold 1,364 shares of the 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 $1,200,579.16. Following the completion of the sale, the executive vice president owned 12,088 shares in the company, valued at approximately $10,639,736.72. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the sale, the executive vice president owned 4,290 shares in the company, valued at approximately $3,776,015.10. This represents a 18.73% decrease in their ownership of the stock. 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 sold 141,069 shares of company stock valued at $107,161,712 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Seagate Technology Trading Down 4.5%

NASDAQ:STX opened at $991.65 on Thursday. The firm has a market capitalization of $222.36 billion, a P/E ratio of 94.08 and a beta of 2.04. 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 company has a fifty day moving average of $801.27 and a 200 day moving average of $521.30. Seagate Technology Holdings PLC has a 52 week low of $136.28 and a 52 week high of $1,145.00.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (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 business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter last year, the firm earned $1.90 EPS. The company’s revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, research analysts predict that Seagate Technology Holdings PLC will post 14.14 earnings per share 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 $0.74 dividend. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. Seagate Technology’s dividend payout ratio (DPR) is presently 28.08%.

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.