Klingman & Associates LLC purchased a new position in Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 607 shares of the data storage provider’s stock, valued at approximately $238,000.
Several other institutional investors and hedge funds have also made changes to their positions in STX. Massachusetts Financial Services Co. MA increased its stake in shares of Seagate Technology by 1,510.1% during the fourth 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 acquiring an additional 1,883,769 shares during the period. Norges Bank acquired a new stake in Seagate Technology in the fourth quarter worth approximately $498,363,000. Soroban Capital Partners LP lifted its position in Seagate Technology by 1,468.1% in 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 purchasing an additional 1,327,197 shares during the period. Deutsche Bank AG boosted its stake in 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 valued at $440,614,000 after purchasing an additional 807,962 shares in the last quarter. Finally, National Pension Service boosted its stake in Seagate Technology by 298.7% during the 4th quarter. National Pension Service now owns 997,223 shares of the data storage provider’s stock valued at $274,625,000 after purchasing an additional 747,102 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.
Seagate Technology Stock Performance
Shares of NASDAQ STX opened at $851.69 on Friday. The stock’s fifty day simple moving average is $893.15 and its 200 day simple moving average is $610.20. The stock has a market capitalization of $190.97 billion, a price-to-earnings ratio of 80.81 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. Seagate Technology Holdings PLC has a 52-week low of $138.30 and a 52-week high of $1,145.00.
Seagate Technology Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th were paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, June 24th. Seagate Technology’s payout ratio is 28.08%.
Insiders Place Their Bets
In other Seagate Technology news, EVP Ban Seng Teh sold 989 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $870,507.91. Following the completion of the sale, the executive vice president directly owned 4,290 shares in the company, valued at approximately $3,776,015.10. This trade represents a 18.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $1,200,579.16. Following the completion of the sale, the executive vice president directly owned 12,088 shares of the company’s stock, valued at $10,639,736.72. This trade represents a 10.14% decrease in their ownership of the stock. 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 a total of 151,069 shares of company stock valued at $126,191,753 in the last 90 days. Insiders own 0.79% of the company’s stock.
Key Seagate Technology News
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: Several previews say Seagate remains well positioned to beat fiscal Q4 expectations, citing AI-driven storage demand, rising HAMR adoption, and improving margins that could support another strong earnings report. Article title: STX Likely to Beat Q4 Earnings: Is it a Portfolio Must-Have Now?
- Positive Sentiment: Another earnings preview argues Seagate’s AI tailwinds are intact, with higher-density storage demand and operating leverage supporting profitability, though valuation has become less compelling. Article title: Seagate Earnings Preview: AI Tailwinds Remain, But Fading Sentiment Caps The Premium
- Positive Sentiment: Commentary from the last two days says Seagate could rebound after being off from recent highs if earnings confirm strong demand for high-capacity storage. Article title: Seagate Stock Is Off 20% From Its High. Why July 28 Earnings Could Trigger a Rebound.
- Neutral Sentiment: Short-interest data showed no meaningful change in borrowed shares, so it does not appear to be a major driver of trading today.
- Neutral Sentiment: One market note highlighted rising losses across mega-cap AI names like Tesla, Alphabet, Meta, Amazon, and Microsoft, reinforcing the broader risk-off tone in AI-related stocks. Article title: Why Tesla, Google, and other Mag 7 stocks are losing billions in valuation
- Negative Sentiment: A trading-focused report says Seagate is falling on broad semiconductor weakness and concerns that AI spending may be shifting, which is likely weighing on the shares despite upbeat earnings expectations. Article title: Why Is Seagate Stock Falling on Friday?
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Melius Research began coverage on Seagate Technology in a research note on Monday, June 29th. They issued a “buy” rating and a $1,600.00 price objective on the stock. Zacks Research cut Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Loop Capital raised their target price on Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research note on Friday, May 15th. TD Cowen lifted their target price on Seagate Technology from $500.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Susquehanna boosted their price target on shares of Seagate Technology from $615.00 to $775.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $898.52.
Check Out Our Latest Stock Analysis on STX
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.
Further Reading
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