Seagate Technology Holdings PLC $STX Shares Sold by Westpac Banking Corp

Westpac Banking Corp lowered its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 19.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,151 shares of the data storage provider’s stock after selling 785 shares during the quarter. Westpac Banking Corp’s holdings in Seagate Technology were worth $1,234,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC increased its stake in Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 15 shares in the last quarter. Salomon & Ludwin LLC grew its holdings in shares of Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after buying an additional 51 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Seagate Technology during the first quarter valued at $39,000. Concord Wealth Partners acquired a new position in shares of Seagate Technology in the 4th quarter valued at $28,000. Finally, McMillan Office Inc. acquired a new position in shares of Seagate Technology in the 1st quarter valued at $39,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on STX. UBS Group lifted their price target on Seagate Technology from $515.00 to $545.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Wall Street Zen raised Seagate Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. TD Cowen raised their price objective on Seagate Technology from $500.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Citigroup lifted their target price on Seagate Technology from $1,150.00 to $1,240.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Finally, Mizuho upped their target price on Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and a consensus price target of $898.52.

Insider Activity

In other news, CFO Gianluca Romano sold 903 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 $794,811.57. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William D. Mosley sold 9,343 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $924.42, for a total transaction of $8,636,856.06. Following the completion of the transaction, the chief executive officer owned 311,517 shares of the company’s stock, valued at approximately $287,972,545.14. This trade represents a 2.91% decrease in their position. 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 151,069 shares of company stock worth $126,191,753 over the last 90 days. Company insiders own 0.79% of the company’s stock.

Seagate Technology News Summary

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

NASDAQ STX opened at $908.10 on Thursday. The stock has a 50-day simple moving average of $889.85 and a two-hundred day simple moving average of $604.10. The firm has a market capitalization of $203.62 billion, a P/E ratio of 86.16 and a beta of 2.04. Seagate Technology Holdings PLC has a fifty-two week low of $138.30 and a fifty-two week high of $1,145.00. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.59. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company’s revenue for the quarter was up 44.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities analysts forecast that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th were given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date was Wednesday, June 24th. Seagate Technology’s dividend payout ratio is currently 28.08%.

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.