AustralianSuper Pty Ltd Sells 3,073 Shares of Seagate Technology Holdings PLC $STX

Key Points

• AustralianSuper Pty Ltd cut its Seagate Technology stake by 12.8% in the fourth quarter, selling 3,073 shares and ending with 21,020 shares valued at about $5.79 million.
• Seagate reported a strong quarterly earnings beat, posting $4.10 EPS versus estimates of $3.51 and revenue of $3.11 billion, while also raising its Q4 2026 guidance to $4.80-$5.20 EPS.
• The stock continues to draw bullish analyst attention, with Loop Capital lifting its price target to $1,140 and maintaining a buy rating amid optimism around AI-driven storage demand and data center growth.

AustralianSuper Pty Ltd trimmed its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 12.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,020 shares of the data storage provider's stock after selling 3,073 shares during the quarter. AustralianSuper Pty Ltd's holdings in Seagate Technology were worth $5,789,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gateway Investment Advisers LLC increased its position in Seagate Technology by 1.8% in the fourth quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider's stock worth $385,000 after purchasing an additional 25 shares during the period. EWA LLC raised 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 buying an additional 28 shares during the last quarter. SVB Wealth LLC raised 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 buying an additional 29 shares during the last quarter. Sovereign Financial Group Inc. raised its stake in shares of Seagate Technology by 3.2% during the fourth quarter. Sovereign Financial Group Inc. now owns 1,063 shares of the data storage provider's stock worth $293,000 after buying an additional 33 shares during the last quarter. Finally, Pallas Capital Advisors LLC raised its stake in shares of Seagate Technology by 0.6% during the fourth quarter. Pallas Capital Advisors LLC now owns 5,446 shares of the data storage provider's stock worth $1,500,000 after buying an additional 33 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Down 1.2%

Shares of NASDAQ STX opened at $795.47 on Friday. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. Seagate Technology Holdings PLC has a 52-week low of $103.73 and a 52-week high of $841.31. The firm has a 50 day moving average price of $526.24 and a 200 day moving average price of $393.24. The stock has a market cap of $178.37 billion, a P/E ratio of 75.47 and a beta of 1.98.

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 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 during the quarter, compared to analysts' expectations of $2.96 billion. During the same quarter in the prior year, the company earned $1.90 EPS. The firm's quarterly 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. Analysts expect that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.

Seagate Technology Dividend Announcement

The firm 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 dividend of $0.74 per share. 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 currently 28.08%.

Insider Activity at Seagate Technology

In other news, EVP John Christopher Morris sold 5,626 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the sale, the executive vice president owned 11,954 shares of the company's stock, valued at $8,826,474.98. This trade represents a 32.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP James Ci Lee sold 697 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $741.17, for a total value of $516,595.49. Following the sale, the executive vice president directly owned 324 shares in the company, valued at approximately $240,139.08. This represents a 68.27% decrease in their position. 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. Insiders have sold a total of 118,283 shares of company stock valued at $65,989,618 over the last 90 days. Insiders own 0.79% of the company's stock.

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.

Analysts Set New Price Targets

A number of research firms recently weighed in on STX. KeyCorp set a $500.00 price target on shares of Seagate Technology in a research note on Wednesday, January 28th. Wedbush increased their price target on Seagate Technology from $700.00 to $825.00 and gave the company an "outperform" rating in a research note on Monday, April 27th. Zacks Research raised Seagate Technology from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 1st. Citigroup raised their target price on Seagate Technology from $595.00 to $740.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Finally, Wall Street Zen upgraded 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 assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $733.71.

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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