Procyon Advisors LLC Takes Position in Seagate Technology Holdings PLC $STX

Procyon Advisors LLC purchased a new position in Seagate Technology Holdings PLC (NASDAQ:STX) in the first quarter, Holdings Channel.com reports. The firm purchased 6,599 shares of the data storage provider’s stock, valued at approximately $2,585,000.

Other hedge funds have also recently made changes to their positions in the company. Cornerstone Wealth Group LLC grew its position in Seagate Technology by 0.5% in the 1st quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider’s stock worth $1,388,000 after purchasing an additional 19 shares during the period. Gateway Investment Advisers LLC lifted its holdings in shares of Seagate Technology by 1.8% during the 4th quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider’s stock valued at $385,000 after buying an additional 25 shares during the period. Trajan Wealth LLC lifted its holdings in shares of Seagate Technology by 1.9% during the 4th quarter. Trajan Wealth LLC now owns 1,325 shares of the data storage provider’s stock valued at $365,000 after buying an additional 25 shares during the period. TSG Advice Partners LLC boosted its stake in shares of Seagate Technology by 1.9% in the 1st quarter. TSG Advice Partners LLC now owns 1,448 shares of the data storage provider’s stock worth $567,000 after buying an additional 27 shares during the last quarter. Finally, Fortis Capital Management LLC boosted its stake in shares of Seagate Technology by 1.1% in the 4th quarter. Fortis Capital Management LLC now owns 2,557 shares of the data storage provider’s stock worth $704,000 after buying an additional 27 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

STX has been the subject of a number of research reports. China Renaissance upped their price objective on Seagate Technology from $802.00 to $983.00 in a research report on Friday, June 12th. JPMorgan Chase & Co. raised their target price on Seagate Technology from $775.00 to $920.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Morgan Stanley boosted their price target on Seagate Technology from $767.00 to $1,035.00 and gave the company an “overweight” rating in a research note on Monday, June 15th. Wedbush upped their price target on shares of Seagate Technology from $700.00 to $825.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Finally, Wells Fargo & Company upgraded shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $900.00 to $1,100.00 in a research note on Friday. Twenty-two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and an average price target of $898.52.

Seagate Technology Stock Down 5.5%

STX stock opened at $860.66 on Tuesday. Seagate Technology Holdings PLC has a twelve month low of $138.30 and a twelve month high of $1,145.00. 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 stock has a market cap of $192.99 billion, a P/E ratio of 81.66 and a beta of 2.04. The business’s 50-day moving average price is $884.34 and its 200-day moving average price is $576.82.

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

Seagate Technology Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Wednesday, June 24th. Seagate Technology’s dividend payout ratio is presently 28.08%.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Citigroup raised Seagate’s price target to $1,240 from $1,150 and kept a buy rating, reinforcing a bullish view on the company’s upside. Article Title
• Positive Sentiment: Wells Fargo recently upgraded Seagate to Overweight, citing strong demand for high-capacity storage products tied to cloud and AI infrastructure spending. Article Title
• Neutral Sentiment: Seagate continues to be viewed as a beneficiary of AI and cloud storage growth, with commentary highlighting ongoing demand for higher-capacity drives and share repurchase support. Article Title
• Negative Sentiment: A broader selloff in AI and semiconductor stocks, led by SK hynix concerns, is weighing on memory-related names and dragging Seagate lower despite no company-specific earnings update. Article Title
• Negative Sentiment: Related reports show weakness across the memory-storage group, including Micron, SanDisk, and Western Digital, suggesting Seagate is being caught in a sector-wide reset in sentiment. Article Title

Insider Activity

In other news, EVP Ban Seng Teh sold 989 shares of the stock in a transaction on Friday, June 12th. The shares were 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 directly owned 4,290 shares of the company’s stock, valued at $3,776,015.10. This represents a 18.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 903 shares of the firm’s stock in a transaction 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 sale, the chief financial officer owned 42,860 shares in the company, valued at $37,724,943.40. The trade was a 2.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 151,069 shares of company stock valued at $126,191,753. 0.79% of the stock is currently owned by company insiders.

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.