Valley Wealth Managers Inc. Trims Stake in Seagate Technology Holdings PLC $STX

Valley Wealth Managers Inc. lessened its position in Seagate Technology Holdings PLC (NASDAQ:STX) by 48.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,629 shares of the data storage provider’s stock after selling 63,817 shares during the quarter. Seagate Technology accounts for 1.7% of Valley Wealth Managers Inc.’s portfolio, making the stock its 16th largest position. Valley Wealth Managers Inc.’s holdings in Seagate Technology were worth $26,886,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its position in Seagate Technology by 1,510.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock worth $553,125,000 after purchasing an additional 1,883,769 shares during the period. Norges Bank bought a new stake in Seagate Technology in the fourth quarter worth about $498,363,000. Soroban Capital Partners LP boosted its position in shares of Seagate Technology by 1,468.1% during the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock valued at $204,602,000 after buying an additional 1,327,197 shares during the period. Deutsche Bank AG boosted its position in shares of Seagate Technology by 102.0% during the fourth quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider’s stock valued at $440,614,000 after buying an additional 807,962 shares during the period. Finally, National Pension Service grew its stake in shares of Seagate Technology by 298.7% during the fourth quarter. National Pension Service now owns 997,223 shares of the data storage provider’s stock valued at $274,625,000 after buying an additional 747,102 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Ban Seng Teh sold 989 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 4,290 shares of the company’s stock, valued at $3,776,015.10. This trade represents a 18.73% decrease in their position. The sale was disclosed in a document filed 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 Seagate Technology stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $1,200,579.16. Following the sale, the executive vice president directly owned 12,088 shares of the company’s stock, valued at approximately $10,639,736.72. This represents a 10.14% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 151,069 shares of company stock valued at $126,191,753. 0.79% of the stock is owned by corporate insiders.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Analysts and market commentators highlighted Seagate as one of the memory/storage names best positioned to benefit from global AI infrastructure spending, citing rising demand for advanced storage and improving revenue and margin trends. 4 Top-Ranked Memory Stocks to Buy as AI Infrastructure Expands Globally
• Positive Sentiment: Additional bullish coverage said Seagate could be a smaller AI stock with room to run, pointing to strong execution, expanding margins, and earnings growth potential that may continue to attract investors. Everyone’s Buying NVIDIA, but 2 Smaller AI Stocks Could Soar Higher
• Positive Sentiment: Seagate also received a favorable mention in an analyst blog round-up and in commentary describing the stock as benefiting from a strong cost advantage and AI-related storage demand. The Zacks Analyst Blog Highlights NVIDIA, AMD, Taiwan Semiconductor Manufacturing and Seagate
• Neutral Sentiment: Market-watch coverage noted Seagate underperformed some peers in recent trading sessions, suggesting investor enthusiasm has not been uniform across the storage group. Seagate Technology Holdings PLC stock underperforms Thursday when compared to competitors
• Neutral Sentiment: Broader tech and chip-stock weakness, including pressure on the semiconductor index, is still weighing on the sector and can limit gains for Seagate despite its company-specific positives. The SOX Index Fell 16% in Less Than a Month
• Negative Sentiment: Tech stocks were under pressure overall, which may have contributed to weakness in Seagate shares even as the company’s long-term fundamentals remain tied to AI-driven storage demand. Sector Update: Tech Stocks Fall Thursday Afternoon

Seagate Technology Stock Performance

Shares of NASDAQ:STX opened at $787.66 on Friday. The firm’s 50 day simple moving average is $887.01 and its 200-day simple moving average is $589.45. 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 Holdings PLC has a one year low of $138.30 and a one year high of $1,145.00. The firm has a market cap of $176.62 billion, a PE ratio of 74.73 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results 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. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the previous year, the business earned $1.90 earnings per share. Seagate Technology’s quarterly revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities analysts predict that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Wednesday, June 24th. Seagate Technology’s payout ratio is presently 28.08%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald increased their price target on Seagate Technology from $1,000.00 to $1,300.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Evercore boosted their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Melius Research began coverage on Seagate Technology in a research report on Monday, June 29th. They issued a “buy” rating and a $1,600.00 price objective on the stock. BNP Paribas Exane increased their target price on Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Finally, Susquehanna lifted their target price on 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 issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $898.52.

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.