Bank of Hawaii Reduces Stock Holdings in Seagate Technology Holdings PLC $STX

Key Points

• Bank of Hawaii cut its Seagate stake by 37.9% in the fourth quarter, selling 1,904 shares and leaving it with 3,121 shares valued at about $859,000.
• Wall Street sentiment remains bullish on STX, with multiple firms raising price targets as analysts point to AI-driven data-center demand and Seagate’s HAMR-based storage platform as growth drivers.
• Seagate reported strong quarterly results and raised guidance, posting EPS of $4.10 on $3.11 billion in revenue, while also announcing a quarterly dividend of $0.74 per share.

Bank of Hawaii lowered its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 37.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,121 shares of the data storage provider's stock after selling 1,904 shares during the quarter. Bank of Hawaii's holdings in Seagate Technology were worth $859,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Integrated Wealth Concepts LLC boosted its position in shares of Seagate Technology by 168.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider's stock valued at $610,000 after purchasing an additional 4,499 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Seagate Technology during the second quarter worth approximately $262,000. Cerity Partners LLC increased its holdings in shares of Seagate Technology by 25.8% in the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider's stock valued at $5,294,000 after acquiring an additional 7,517 shares during the period. Sei Investments Co. increased its holdings in shares of Seagate Technology by 64.8% in the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider's stock valued at $1,233,000 after acquiring an additional 3,358 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Seagate Technology by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider's stock valued at $18,458,000 after purchasing an additional 462 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Key Stories Impacting 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.

Seagate Technology Price Performance

STX stock opened at $1,070.23 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 company's 50 day simple moving average is $769.13 and its 200-day simple moving average is $503.22. Seagate Technology Holdings PLC has a 12 month low of $130.32 and a 12 month high of $1,145.00. The firm has a market capitalization of $239.98 billion, a PE ratio of 101.54 and a beta of 2.04.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.59. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company's quarterly revenue was up 44.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Equities analysts expect that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Wednesday, June 24th. Seagate Technology's dividend payout ratio is 28.08%.

Insider Activity at Seagate Technology

In other Seagate Technology news, Director Shankar Arumugavelu sold 1,000 shares of Seagate Technology 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 sale, the director directly owned 6,626 shares of the company's stock, valued at approximately $6,146,807.68. The trade was a 13.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Christopher Morris sold 1,364 shares of the business's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $1,200,579.16. Following the completion of the transaction, the executive vice president owned 12,088 shares of the company's stock, valued at $10,639,736.72. This trade represents a 10.14% 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. Insiders sold 141,069 shares of company stock worth $107,161,712 over the last three months. Company insiders own 0.79% of the company's stock.

Analyst Upgrades and Downgrades

STX has been the subject of a number of recent research reports. Bank of America increased their price target on shares of Seagate Technology from $900.00 to $1,000.00 in a research note on Monday, June 8th. Wells Fargo & Company upped their target price on shares of Seagate Technology from $700.00 to $900.00 and gave the company an "equal weight" rating in a report on Monday, June 1st. Morgan Stanley increased their target price on shares of Seagate Technology from $767.00 to $1,035.00 and gave the stock an "overweight" rating in a research note on Monday, June 15th. Barclays raised their price target on Seagate Technology from $750.00 to $1,000.00 and gave the stock an "overweight" rating in a report on Wednesday, May 27th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Seagate Technology in a research report on Friday, March 27th. One 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $831.79.

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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