ARS Investment Partners LLC Lowers Stock Holdings in Seagate Technology Holdings PLC $STX

Key Points

• ARS Investment Partners trimmed its Seagate Technology stake by 3.1% in the fourth quarter, though the fund still held 101,172 shares worth about $27.9 million.
• Wall Street sentiment is broadly positive: analysts have a consensus rating of “Moderate Buy,” with a consensus price target of $733.71, and several firms recently raised targets on STX.
• Seagate reported strong quarterly results, beating EPS and revenue estimates and raising guidance; the company also announced a $0.74 quarterly dividend payable July 7.

ARS Investment Partners LLC lowered its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 101,172 shares of the data storage provider's stock after selling 3,215 shares during the quarter. Seagate Technology makes up 1.6% of ARS Investment Partners LLC's holdings, making the stock its 20th largest position. ARS Investment Partners LLC's holdings in Seagate Technology were worth $27,862,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of STX. WCM Investment Management LLC purchased a new position in Seagate Technology during the third quarter worth approximately $1,187,621,000. Arrowstreet Capital Limited Partnership boosted its position in Seagate Technology by 1,072.5% during the third 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Seagate Technology by 1,510.1% during the fourth 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 in the last quarter. Soroban Capital Partners LP raised its holdings 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 acquiring an additional 1,327,197 shares during the last quarter. Finally, Trivest Advisors Ltd acquired a new position in shares of Seagate Technology during the third quarter valued at approximately $170,435,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Wall Street Analyst Weigh In

STX has been the subject of a number of research analyst reports. Evercore increased their target price on Seagate Technology from $750.00 to $1,000.00 and gave the company an "outperform" rating in a report on Tuesday, May 12th. Wall Street Zen raised Seagate Technology from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. KeyCorp set a $500.00 target price on Seagate Technology in a report on Wednesday, January 28th. Sanford C. Bernstein increased their target price on Seagate Technology from $620.00 to $1,000.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Finally, Jefferies Financial Group reissued a "hold" rating on shares of Seagate Technology in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $733.71.

Insiders Place Their Bets

In other news, Director Stephanie Tilenius sold 1,580 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $766.61, for a total value of $1,211,243.80. Following the completion of the sale, the director directly owned 10,664 shares in the company, valued at $8,175,129.04. This represents a 12.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Gianluca Romano sold 1,902 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $770.00, for a total value of $1,464,540.00. Following the completion of the sale, the chief financial officer owned 40,945 shares of the company's stock, valued at $31,527,650. This trade represents a 4.44% 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 ninety days, insiders sold 118,283 shares of company stock valued at $65,989,618. Insiders own 0.79% of the company's stock.

Seagate Technology Price Performance

STX stock opened at $795.47 on Friday. 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 business has a 50 day simple moving average of $526.24 and a 200-day simple moving average of $393.24. The firm has a market capitalization of $178.37 billion, a PE ratio of 75.47 and a beta of 1.98. Seagate Technology Holdings PLC has a 1 year low of $103.73 and a 1 year high of $841.31.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted 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. The business had revenue of $3.11 billion during 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%.The business's revenue was up 44.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Equities research analysts anticipate that Seagate Technology Holdings PLC will post 14.1 earnings per share 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. The ex-dividend date 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 is 28.08%.

Key Seagate Technology News

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 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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