Pinpoint Asset Management Singapore Pte. Ltd. Cuts Position in Seagate Technology Holdings PLC $STX

Pinpoint Asset Management Singapore Pte. Ltd. decreased its position in Seagate Technology Holdings PLC (NASDAQ:STX) by 8.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,603 shares of the data storage provider’s stock after selling 3,011 shares during the quarter. Seagate Technology accounts for approximately 1.9% of Pinpoint Asset Management Singapore Pte. Ltd.’s portfolio, making the stock its 12th largest position. Pinpoint Asset Management Singapore Pte. Ltd.’s holdings in Seagate Technology were worth $8,979,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gateway Investment Advisers LLC grew its stake in shares of Seagate Technology by 1.8% during the fourth quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider’s stock worth $385,000 after purchasing an additional 25 shares in the last quarter. Trajan Wealth LLC grew its stake in shares of Seagate Technology by 1.9% during the fourth quarter. Trajan Wealth LLC now owns 1,325 shares of the data storage provider’s stock worth $365,000 after purchasing an additional 25 shares in the last quarter. EWA LLC grew its stake in shares of Seagate Technology by 2.1% during the fourth quarter. EWA LLC now owns 1,370 shares of the data storage provider’s stock worth $377,000 after purchasing an additional 28 shares in the last quarter. SVB Wealth LLC grew its stake in shares of Seagate Technology by 0.9% during the fourth quarter. SVB Wealth LLC now owns 3,347 shares of the data storage provider’s stock worth $922,000 after purchasing an additional 29 shares in the last quarter. Finally, Fielder Capital Group LLC boosted its stake in Seagate Technology by 2.7% in the fourth quarter. Fielder Capital Group LLC now owns 1,217 shares of the data storage provider’s stock valued at $335,000 after acquiring an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on STX. Loop Capital upped their price objective 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. Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a research note on Friday, March 27th. China Renaissance upped their price objective on shares of Seagate Technology from $802.00 to $983.00 in a research note on Friday. Bank of America upped their price objective on shares of Seagate Technology from $900.00 to $1,000.00 in a research note on Monday, June 8th. Finally, Zacks Research upgraded shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology has an average rating of “Moderate Buy” and a consensus target price of $820.63.

Insider Buying and Selling at Seagate Technology

In related news, EVP Ban Seng Teh sold 663 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $821.86, for a total transaction of $544,893.18. Following the completion of the transaction, the executive vice president directly owned 4,290 shares of the company’s stock, valued at $3,525,779.40. This represents a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shankar Arumugavelu sold 1,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $927.68, for a total transaction of $927,680.00. Following the transaction, the director directly owned 6,626 shares of the company’s stock, valued at $6,146,807.68. This represents a 13.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 160,629 shares of company stock valued at $112,739,671. Corporate 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 announced it will redeem all outstanding 3.50% Exchangeable Senior Notes due 2028, a move investors view as a balance-sheet strengthening step. Seagate Announces Redemption of Exchangeable Notes
• Positive Sentiment: Analysts remained bullish, with JPMorgan raising its price target to $920 and keeping an Overweight rating, while China Renaissance lifted its target to $983, reinforcing momentum in the stock. JPMorgan raises price target on Seagate Technology to 920 from 775, maintains overweight rating
• Positive Sentiment: Reports highlighted surging free cash flow and record AI-related demand, suggesting Seagate is benefiting from cloud and data-center storage expansion. Seagate’s Strengthening Free Cash Flow: Can Growth Continue?
• Positive Sentiment: Another update said Seagate has most of its nearline storage capacity allocated through 2027 and raised its long-term annual revenue growth target to at least 20%, pointing to sustained demand from large cloud customers. Seagate Locks In Nearline Demand And Lifts Long Term Growth Outlook
• Neutral Sentiment: Several Seagate executives sold shares this week, including the CFO and CEO, which may weigh on sentiment a bit, but the sales were relatively small versus their remaining holdings. Insider Selling: Seagate Technology (NASDAQ:STX) EVP Sells 574 Shares of Stock

Seagate Technology Price Performance

Shares of STX opened at $931.04 on Friday. Seagate Technology Holdings PLC has a fifty-two week low of $124.63 and a fifty-two week high of $966.80. The company has a market capitalization of $208.77 billion, a price-to-earnings ratio of 88.33 and a beta of 2.04. The firm has a 50-day simple moving average of $709.54 and a 200-day simple moving average of $475.81. 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 announced its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the firm earned $1.90 earnings per share. The business’s quarterly revenue was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities research analysts anticipate that Seagate Technology Holdings PLC will post 14.1 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. Stockholders of record on Wednesday, June 24th will be paid a dividend of $0.74 per share. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. Seagate Technology’s dividend payout ratio is 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.