Arrowstreet Capital Limited Partnership Raises Holdings in Seagate Technology Holdings PLC $STX

Key Points

• Arrowstreet Capital increased its Seagate Technology stake by 8.3% in the fourth quarter, adding 243,551 shares to reach 3.19 million shares worth about $879.3 million.
• Several other institutional investors also modestly raised their positions, and overall institutional ownership remains very high at 92.87% of the company.
• Analysts remain broadly bullish on Seagate, with multiple firms lifting price targets; the stock currently carries a Moderate Buy consensus and an average target of $820.63.

Arrowstreet Capital Limited Partnership lifted its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 8.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,193,063 shares of the data storage provider's stock after acquiring an additional 243,551 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.46% of Seagate Technology worth $879,338,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. 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 acquiring an additional 25 shares during 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 acquiring an additional 25 shares during the last quarter. Fortis Capital Management LLC grew its stake in shares of Seagate Technology by 1.1% during the fourth quarter. Fortis Capital Management LLC now owns 2,557 shares of the data storage provider's stock worth $704,000 after acquiring an additional 27 shares during 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 acquiring an additional 28 shares during the last quarter. Finally, 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 acquiring an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 2,855 shares of the business's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $821.74, for a total value of $2,346,067.70. Following the completion of the transaction, the chief executive officer directly owned 324,870 shares of the company's stock, valued at approximately $266,958,673.80. The trade was a 0.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Shankar Arumugavelu sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $927.68, for a total value of $927,680.00. Following the completion of the transaction, the director directly owned 6,626 shares of the company's stock, valued at $6,146,807.68. The trade was a 13.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,629 shares of company stock valued at $112,739,671 over the last quarter. Company insiders own 0.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. BNP Paribas Exane boosted their price target on Seagate Technology from $530.00 to $860.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Loop Capital boosted their price target on Seagate Technology from $950.00 to $1,140.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Cantor Fitzgerald boosted their price target on Seagate Technology from $700.00 to $1,000.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 29th. TD Cowen boosted their price target on Seagate Technology from $500.00 to $850.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Finally, Wells Fargo & Company boosted their price target on Seagate Technology from $700.00 to $900.00 and gave the stock an "equal weight" rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given 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 an average price target of $820.63.

Trending Headlines about Seagate Technology

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 NASDAQ STX opened at $931.04 on Friday. The business's 50 day moving average price is $709.54 and its 200 day moving average price is $475.81. The firm has a market cap of $208.77 billion, a P/E ratio of 88.33 and a beta of 2.04. Seagate Technology Holdings PLC has a 52 week low of $124.63 and a 52 week high of $966.80. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results 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 firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.Seagate Technology's revenue for the quarter was up 44.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, sell-side analysts expect that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be given a $0.74 dividend. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. Seagate Technology's dividend payout ratio is currently 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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