1620 Investment Advisors Inc. Sells 2,785 Shares of Seagate Technology Holdings PLC $STX

Key Points

• 1620 Investment Advisors cut its Seagate Technology stake by 38.6% in the fourth quarter, selling 2,785 shares and leaving it with 4,433 shares valued at about $1.22 million.
• Institutional ownership in Seagate Technology (STX) remains very high at 92.87%, while several large funds such as Vanguard and State Street also increased their positions recently.
• Analysts are broadly bullish on Seagate after strong earnings and upbeat guidance, with the stock carrying a Moderate Buy consensus and a $733.71 average price target; the company also announced a quarterly dividend of $0.74 per share.

1620 Investment Advisors Inc. lowered its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 38.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,433 shares of the data storage provider's stock after selling 2,785 shares during the quarter. Seagate Technology comprises 0.8% of 1620 Investment Advisors Inc.'s holdings, making the stock its 26th largest holding. 1620 Investment Advisors Inc.'s holdings in Seagate Technology were worth $1,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of STX. Vanguard Group Inc. lifted its stake in shares of Seagate Technology by 1.6% during the third quarter. Vanguard Group Inc. now owns 28,140,287 shares of the data storage provider's stock worth $6,642,796,000 after buying an additional 442,749 shares during the period. State Street Corp increased its position in shares of Seagate Technology by 3.1% during the 3rd quarter. State Street Corp now owns 9,276,278 shares of the data storage provider's stock worth $2,196,420,000 after purchasing an additional 274,913 shares during the last quarter. WCM Investment Management LLC acquired a new stake in shares of Seagate Technology during the 3rd quarter worth about $1,187,621,000. Arrowstreet Capital Limited Partnership increased its position in shares of Seagate Technology by 1,072.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider's stock worth $696,262,000 after purchasing an additional 2,697,957 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew 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 valued at $553,125,000 after acquiring an additional 1,883,769 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on STX. Susquehanna increased their price objective on Seagate Technology from $485.00 to $615.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Wall Street Zen upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Cantor Fitzgerald upped their target price on shares of Seagate Technology from $700.00 to $1,000.00 and gave the company an "overweight" rating in a report on Wednesday, April 29th. Barclays upped their price objective on Seagate Technology from $625.00 to $750.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Finally, Wells Fargo & Company increased their price target on Seagate Technology from $450.00 to $700.00 and gave the company an "equal weight" rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $733.71.

Insider Activity

In related news, EVP Ban Seng Teh sold 8,003 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president owned 3,691 shares of the company's stock, valued at approximately $3,016,580.48. This trade represents a 68.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 22,488 shares of Seagate Technology stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total value of $17,410,659.36. Following the completion of the transaction, the chief financial officer owned 42,847 shares in the company, valued at $33,173,004.34. The trade was a 34.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 118,283 shares of company stock valued at $65,989,618. 0.79% of the stock is currently owned by company insiders.

Seagate Technology News Roundup

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

• Positive Sentiment: Loop Capital raised its price target on Seagate Technology (STX) from $950 to $1,140 and reiterated a buy rating, signaling confidence that AI-driven storage demand and Seagate’s product mix can keep earnings momentum strong.
• Positive Sentiment: Recent market coverage continues to highlight Seagate as a beneficiary of booming AI data center spending, with strong enterprise storage demand and HAMR adoption supporting the company’s growth outlook.
• Neutral Sentiment: Seagate also remains in focus after reporting a strong earnings beat and raising guidance, which reinforces the view that fundamentals are improving even after a sharp run-up in the share price.
• Negative Sentiment: Investor sentiment may be pressured by recent insider selling, as EVP Ban Seng Teh sold shares in two transactions under a pre-arranged 10b5-1 plan, which can still be read cautiously by the market.
• Negative Sentiment: The planned retirement of Lead Independent Director Mike Cannon adds a governance change that could create some uncertainty, even though it does not directly affect operations.

Seagate Technology Stock Performance

STX opened at $795.47 on Friday. Seagate Technology Holdings PLC has a 1-year low of $103.73 and a 1-year high of $841.31. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The company has a market capitalization of $178.37 billion, a price-to-earnings ratio of 75.47 and a beta of 1.98. The business has a 50 day moving average price of $526.24 and a two-hundred day moving average price of $393.24.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 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 company's quarterly revenue was up 44.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Research analysts predict that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology's dividend payout ratio is 28.08%.

Seagate Technology Company Profile

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.

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