Bank of New York Mellon Corp Purchases 196,123 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Bank of New York Mellon boosted its Seagate Technology stake by 18.8% in the fourth quarter, buying 196,123 additional shares. The fund now owns 1,241,951 shares, worth about $342 million.
• Wall Street remains bullish on Seagate, with several analysts raising price targets and the stock carrying a consensus rating of “Moderate Buy” and a target price of $772.04. Recent upgrades also point to optimism around Seagate’s role in the AI data-center buildout.
• Seagate reported strong quarterly results, with EPS of $4.10 versus $3.51 expected and revenue of $3.11 billion, up 44.1% year over year. The company also announced a quarterly dividend of $0.74 per share, payable July 7.

Bank of New York Mellon Corp raised its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 18.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,241,951 shares of the data storage provider's stock after acquiring an additional 196,123 shares during the period. Bank of New York Mellon Corp owned approximately 0.57% of Seagate Technology worth $342,021,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of STX. Integrated Wealth Concepts LLC increased its position in Seagate Technology by 168.0% during the first quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider's stock valued at $610,000 after acquiring an additional 4,499 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Seagate Technology during the second quarter valued at $262,000. Cerity Partners LLC increased its position in Seagate Technology by 25.8% during the second 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 last quarter. Sei Investments Co. increased its position in Seagate Technology by 64.8% during the second 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 last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Seagate Technology by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider's stock valued at $18,458,000 after acquiring an additional 462 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on STX. Wall Street Zen upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Susquehanna upped their price target on shares of Seagate Technology from $485.00 to $615.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. Weiss Ratings restated a "buy (b)" rating on shares of Seagate Technology in a report on Friday, March 27th. Rosenblatt Securities upped their price target on shares of Seagate Technology from $500.00 to $1,000.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Finally, Barclays upped their price target on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an "overweight" rating in a report on Wednesday, May 27th. 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's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $772.04.

Seagate Technology Stock Performance

STX stock opened at $925.99 on Friday. The firm has a market cap of $207.63 billion, a price-to-earnings ratio of 87.85 and a beta of 2.04. The firm has a 50-day simple moving average of $652.82 and a two-hundred day simple moving average of $451.46. Seagate Technology Holdings PLC has a one year low of $124.63 and a one year high of $966.80. 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 (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating the consensus estimate 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 net margin of 21.60% and a return on equity of 1,005.65%. The company's quarterly revenue was up 44.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities analysts forecast that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed 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. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology's dividend payout ratio (DPR) is presently 28.08%.

More Seagate Technology News

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

• Positive Sentiment: Analysts continue to view Seagate as a beneficiary of the AI data-center buildout, with recent coverage naming STX among growth stocks helped by massive infrastructure spending. Buy These 5 Growth Stocks in June Amid Massive AI Infrastructure Boost
• Positive Sentiment: Seagate has also been highlighted as a stock hitting record levels and extending a strong rally, reinforcing momentum-driven buying interest. Data Storage Name Could See More Records
• Positive Sentiment: Wall Street sentiment remains constructive, with multiple recent analyst upgrades and price-target increases signaling expectations for further upside in Seagate shares.
• Neutral Sentiment: Seagate’s recent conference presentation kept the company in the spotlight, but no major new operating guidance was disclosed in the article list provided. Seagate Technology Holdings plc Presents at Bank of America 2026 Global Technology Conference Transcript
• Negative Sentiment: Director Shankar Arumugavelu sold 1,000 shares, and earlier insider sales by other directors may temper enthusiasm, even though these transactions do not necessarily signal a change in fundamentals.
• Negative Sentiment: News of Seagate’s $175 million settlement over Huawei-related claims could keep legal and compliance risk in focus for investors, despite reducing some uncertainty. Seagate Settlement Over Huawei Sales Reframes Risks For Soaring Stock Narrative

Insider Activity at Seagate Technology

In related news, EVP John Christopher Morris sold 5,626 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $738.37, for a total value of $4,154,069.62. Following the completion of the transaction, the executive vice president directly owned 11,954 shares of the company's stock, valued at $8,826,474.98. This trade represents a 32.00% decrease in their position. The sale 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, CFO Gianluca Romano sold 22,488 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total transaction of $17,410,659.36. Following the completion of the transaction, the chief financial officer directly owned 42,847 shares of the company's stock, valued at $33,173,004.34. The trade was a 34.42% decrease in their ownership of the stock. 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. Over the last quarter, insiders sold 155,187 shares of company stock valued at $108,267,701. Company insiders own 0.79% of the company's stock.

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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