ARS Investment Partners LLC Sells 43,971 Shares of Seagate Technology Holdings PLC $STX

Key Points

• ARS Investment Partners LLC cut its Seagate Technology stake by 43.5% in the first quarter, selling 43,971 shares and leaving it with 57,201 shares worth about $22.4 million.
• Seagate reported strong quarterly results, with EPS of $4.10 beating estimates and revenue of $3.11 billion topping expectations by a wide margin, while revenue jumped 44.1% year over year.
• Wall Street remains broadly bullish on STX, with several firms raising price targets and analysts giving the stock a Moderate Buy consensus, even as insiders have been selling shares recently.

ARS Investment Partners LLC lowered its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 43.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,201 shares of the data storage provider's stock after selling 43,971 shares during the period. Seagate Technology comprises 1.2% of ARS Investment Partners LLC's holdings, making the stock its 27th largest position. ARS Investment Partners LLC's holdings in Seagate Technology were worth $22,409,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Salomon & Ludwin LLC raised its stake in shares of Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock worth $27,000 after purchasing an additional 51 shares during the period. Rakuten Securities Inc. grew its position in Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock valued at $27,000 after buying an additional 168 shares during the period. Armstrong Advisory Group Inc. purchased a new stake in Seagate Technology during the fourth quarter worth about $28,000. Avion Wealth increased its holdings in Seagate Technology by 343.5% during the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider's stock worth $28,000 after buying an additional 79 shares during the last quarter. Finally, Concord Wealth Partners bought a new stake in Seagate Technology in the fourth quarter worth about $28,000. Institutional investors own 92.87% of the company's stock.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $1,070.23 on Friday. The company has a 50 day moving average of $769.13 and a 200 day moving average of $503.22. The stock has a market cap of $239.98 billion, a P/E ratio of 101.54 and a beta of 2.04. Seagate Technology Holdings PLC has a 12 month low of $130.32 and a 12 month high of $1,145.00. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the prior year, the firm posted $1.90 EPS. Seagate Technology'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, sell-side analysts forecast that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders 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 annualized dividend and a dividend yield of 0.3%. Seagate Technology's dividend payout ratio is presently 28.08%.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Analysts highlighted Seagate as a momentum pick tied to AI-driven data-center growth, saying demand for large-scale storage solutions could drive upside for STX. Seagate & Another AI Memory Momentum Stock With Big Upside
• Positive Sentiment: JPMorgan reaffirmed an Overweight rating and raised its price target on Seagate to $920 from $775, citing a constructive outlook for pricing and incremental margins. Why JPMorgan Remains Bullish on Seagate Technology Holdings plc (STX)
• Positive Sentiment: More coverage pointed to AI’s data explosion creating a multi-year growth runway for Seagate’s HAMR-based Mozaic platform, reinforcing the case for rising storage demand across cloud and data centers. AI's Data Explosion Creates a Multi-Year Growth Runway for Seagate
• Positive Sentiment: Memory and storage stocks were broadly stronger after Apple flagged rising memory costs, which helped lift sentiment across the group, including STX. MU, WDC, SNDK, STX Stocks Rally Overnight After Apple Flags Memory Cost Surge
• Neutral Sentiment: One report noted that a broader market rotation favored financials over tech, which could have created some headwind for technology shares despite Seagate-specific bullish catalysts. Financials Rose, Tech Fell Before Kevin Warsh Fed Debut
• Neutral Sentiment: There was also insider selling by Seagate executives, but the article argued it was not necessarily a negative signal for the business outlook. Seagate’s C-Suite Just Sold Stock. It’s Not the Signal You Think.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on STX shares. China Renaissance boosted their target price on shares of Seagate Technology from $802.00 to $983.00 in a research note on Friday, June 12th. The Goldman Sachs Group raised their price target on shares of Seagate Technology from $385.00 to $700.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Sanford C. Bernstein lifted their price target 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. Mizuho upped their price objective on Seagate Technology from $875.00 to $1,090.00 and gave the company an "outperform" rating in a research note on Monday, June 8th. Finally, Wall Street Zen raised Seagate Technology from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. One 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. According to data from MarketBeat.com, Seagate Technology presently has an average rating of "Moderate Buy" and an average price target of $831.79.

Insider Buying and Selling

In related news, EVP Ban Seng Teh sold 989 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $870,507.91. Following the completion of the transaction, the executive vice president directly owned 4,290 shares in the company, valued at $3,776,015.10. The trade was a 18.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 1,768 shares of the company's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $1,556,175.92. Following the completion of the transaction, the chief executive officer owned 327,517 shares in the company, valued at $288,277,188.23. This represents a 0.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 141,069 shares of company stock valued at $107,161,712 in the last ninety days. 0.79% of the stock is owned by insiders.

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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