Lazard Asset Management LLC Has $11.48 Million Stock Position in Seagate Technology Holdings PLC $STX

Lazard Asset Management LLC lifted its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,304 shares of the data storage provider’s stock after buying an additional 945 shares during the quarter. Lazard Asset Management LLC’s holdings in Seagate Technology were worth $11,480,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. PFA Pension Forsikringsaktieselskab acquired a new stake in Seagate Technology during the 4th quarter worth $23,882,000. New York State Teachers Retirement System grew its stake in Seagate Technology by 5.0% in the fourth quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock valued at $51,510,000 after acquiring an additional 8,991 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Seagate Technology by 1.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider’s stock worth $142,874,000 after acquiring an additional 6,028 shares in the last quarter. Praxis Investment Management Inc. increased its holdings in shares of Seagate Technology by 56.5% in the fourth quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider’s stock worth $1,822,000 after acquiring an additional 2,389 shares in the last quarter. Finally, Ritholtz Wealth Management raised its position in shares of Seagate Technology by 64.5% during the fourth quarter. Ritholtz Wealth Management now owns 21,321 shares of the data storage provider’s stock worth $5,872,000 after purchasing an additional 8,358 shares during the period. 92.87% of the stock is owned by institutional investors.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Results exceeded expectations: Seagate reported non-GAAP EPS of $5.71 versus the $5.10 consensus and revenue of $3.63 billion versus $3.50 billion. Revenue rose 48.5% year over year, while the company highlighted record profitability and $3.1 billion in fiscal-year free cash flow. Seagate fiscal fourth-quarter results
• Positive Sentiment: Upbeat guidance raised confidence: Fiscal first-quarter 2027 EPS is expected at $7.10-$7.50, well above the approximately $5.63 analyst estimate, with revenue guidance of $4.0-$4.2 billion versus consensus near $3.7 billion. The outlook supports the view that demand is not limited to a short-lived AI spending spike. Seagate AI-driven storage outlook
• Positive Sentiment: AI storage demand and pricing power: Cloud and data-center customers are expanding storage capacity, while Seagate’s HAMR and Mozaic technologies allow higher-capacity drives without equivalent manufacturing expansion. Analysts cited strong execution, scarce supply and a potentially favorable new pricing environment. Wall Street praises Seagate execution and pricing power
• Positive Sentiment: Analyst sentiment improved: Citi, JPMorgan, Wells Fargo, TD Cowen, Wedbush, Susquehanna and Rosenblatt raised their price targets, with targets ranging from $875 to $1,400. Cantor Fitzgerald also reaffirmed an overweight rating with a $1,300 target, reinforcing the bullish reaction to the earnings report.
• Neutral Sentiment: Dividend declared: Seagate announced a quarterly dividend of $0.74 per share, payable October 7 to shareholders of record September 24. The payout provides income support but is modest relative to the stock’s valuation and growth profile.
• Negative Sentiment: Valuation and volatility remain risks: The stock trades at a high earnings multiple after a major rally, and its elevated beta leaves it vulnerable if AI infrastructure spending slows. A broader memory-sector selloff and concerns that strong results are already priced in could limit further gains.

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 8,003 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the completion of the transaction, the executive vice president directly owned 3,691 shares in the company, valued at $3,016,580.48. This represents a 68.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total value of $22,538,700.00. Following the completion of the transaction, the chief executive officer owned 339,591 shares of the company’s stock, valued at $255,131,322.39. The trade was a 8.12% 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 a total of 151,069 shares of company stock worth $126,191,753 in the last three months. 0.79% of the stock is currently owned by company insiders.

Seagate Technology Trading Up 2.3%

NASDAQ STX opened at $764.43 on Thursday. 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 debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. The stock’s 50 day moving average price is $895.22 and its two-hundred day moving average price is $622.36. The stock has a market capitalization of $171.41 billion, a price-to-earnings ratio of 55.07 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 680.78%. The company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period last year, the business earned $2.59 EPS. The business’s quarterly revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, analysts anticipate that Seagate Technology Holdings PLC will post 26.84 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be issued a dividend of $0.74 per share. The ex-dividend date is Thursday, September 24th. This represents a $2.96 annualized dividend and a yield of 0.4%. Seagate Technology’s dividend payout ratio is presently 21.33%.

Wall Street Analysts Forecast Growth

STX has been the subject of several research analyst reports. Fox Advisors lowered Seagate Technology from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Loop Capital lifted their price target on shares of Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $1,300.00 price objective on shares of Seagate Technology in a research report on Wednesday. Susquehanna raised their price objective on shares of Seagate Technology from $775.00 to $875.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, UBS Group boosted their price objective on shares of Seagate Technology from $515.00 to $545.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average price target of $970.00.

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.