Ariose Capital Management Ltd Purchases Shares of 96,600 Seagate Technology Holdings PLC $STX

Key Points

• Ariose Capital Management disclosed a new first-quarter position in Seagate Technology, buying 96,600 shares valued at about $37.8 million. The stake represents 25.4% of Ariose’s portfolio, making STX its second-largest holding.
• Institutional interest in Seagate remains high, with 92.87% of the stock owned by institutions. Several other funds also recently added to their positions, while analysts currently have a Moderate Buy consensus and an average price target of $880.52.
• Seagate reported strong quarterly results, beating EPS and revenue expectations, and raised guidance for Q4 2026 to $4.80-$5.20 EPS. The company also announced a quarterly dividend of $0.74 per share, payable July 7.

Ariose Capital Management Ltd acquired a new position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 96,600 shares of the data storage provider's stock, valued at approximately $37,844,000. Seagate Technology accounts for 25.4% of Ariose Capital Management Ltd's investment portfolio, making the stock its 2nd largest position.

Several other large investors also recently added to or reduced their stakes in STX. PFA Pension Forsikringsaktieselskab bought a new position in shares of Seagate Technology during the 4th quarter valued at approximately $23,882,000. New York State Teachers Retirement System raised its stake in Seagate Technology by 5.0% during the 4th quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider's stock worth $51,510,000 after acquiring an additional 8,991 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in Seagate Technology by 1.2% during the 4th 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 during the period. Praxis Investment Management Inc. lifted its holdings in Seagate Technology by 56.5% during the fourth quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider's stock valued at $1,822,000 after purchasing an additional 2,389 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its holdings in Seagate Technology by 64.5% during the fourth quarter. Ritholtz Wealth Management now owns 21,321 shares of the data storage provider's stock valued at $5,872,000 after purchasing an additional 8,358 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on STX shares. Melius Research began coverage on shares of Seagate Technology in a research note on Monday, June 29th. They issued a "buy" rating and a $1,600.00 price objective for the company. BNP Paribas Exane lifted their target price on shares of Seagate Technology from $530.00 to $860.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Sanford C. Bernstein upped their target price on shares of Seagate Technology from $620.00 to $1,000.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Fox Advisors lowered Seagate Technology from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 22nd. Finally, Evercore raised their price target on Seagate Technology from $750.00 to $1,000.00 and gave the company an "outperform" rating in a report on Tuesday, May 12th. Twenty-one investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $880.52.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $820.16 on Friday. The company has a market cap of $183.90 billion, a P/E ratio of 77.81 and a beta of 2.04. 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 firm's fifty day moving average is $853.32 and its two-hundred day moving average is $550.33.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating 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 EPS. The business's 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, analysts anticipate that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

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

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Zacks upgraded Seagate to Strong Buy, citing improving earnings expectations and bullish momentum around the company’s outlook. Seagate (STX) Upgraded to Strong Buy: Here's What You Should Know
• Positive Sentiment: Another Zacks note argued Seagate remains an attractive growth stock, pointing to strong business fundamentals and potential for continued upside. Seagate (STX) is an Incredible Growth Stock: 3 Reasons Why
• Positive Sentiment: Analysts also highlighted Seagate’s surging data center business, helped by cloud demand, Mozaic adoption, and long-term supply agreements that could support revenue growth through fiscal 2027. Can Seagate's Data Center Business Maintain its Growth Momentum?

Insider Buying and Selling at Seagate Technology

In related news, EVP Ban Seng Teh sold 989 shares of the company'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 $870,507.91. Following the sale, the executive vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 9,343 shares of the business's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $924.42, for a total transaction of $8,636,856.06. Following the completion of the sale, the chief executive officer owned 311,517 shares in the company, valued at approximately $287,972,545.14. This trade represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 151,069 shares of company stock worth $126,191,753. Company insiders own 0.79% of the company's stock.

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.

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