Banque Cantonale Vaudoise Sells 6,779 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Banque Cantonale Vaudoise reduced its Seagate Technology stake by 21.1% in the fourth quarter, selling 6,779 shares and leaving it with 25,346 shares worth about $6.98 million.
• Seagate reported strong quarterly results, with EPS of $4.10 and revenue of $3.11 billion, both ahead of estimates and up 44.1% year over year. The company also guided Q4 2026 EPS at 4.8 to 5.2.
• Analysts remain broadly positive, with multiple firms raising price targets and the consensus rating at Moderate Buy, but recent CEO comments about limited factory expansion have raised concerns the company could miss some AI demand upside.

Banque Cantonale Vaudoise cut its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 21.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,346 shares of the data storage provider's stock after selling 6,779 shares during the period. Banque Cantonale Vaudoise's holdings in Seagate Technology were worth $6,980,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC increased its position in shares of 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 worth $610,000 after acquiring an additional 4,499 shares during the period. Sivia Capital Partners LLC purchased a new position in Seagate Technology during the 2nd quarter worth $262,000. Cerity Partners LLC raised its position in Seagate Technology by 25.8% during the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider's stock valued at $5,294,000 after purchasing an additional 7,517 shares in the last quarter. Sei Investments Co. raised its position in Seagate Technology by 64.8% during the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider's stock valued at $1,233,000 after purchasing an additional 3,358 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of 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 worth $18,458,000 after buying an additional 462 shares during the period. Institutional investors own 92.87% of the company's stock.

Key Seagate Technology News

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

• Positive Sentiment: Analysts and bullish commentary point to durable AI-related storage demand and Seagate’s HAMR-driven product cycle as potential supports for longer-term revenue and margin growth.
• Neutral Sentiment: Several articles focus on Seagate’s presentation and broader analyst reactions, including price-target updates, but do not add a major new catalyst by themselves.
• Negative Sentiment: CEO comments that it would take too long to build new factories, and that Seagate may not expand capacity aggressively, have raised concern that the company could miss some of the AI demand upside. Article Title
• Negative Sentiment: The capacity warning has also triggered a broader selloff in memory and storage stocks, adding sector pressure to STX. Article Title

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. BNP Paribas Exane raised their price target on Seagate Technology from $530.00 to $860.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Robert W. Baird raised their price target on shares of Seagate Technology from $270.00 to $505.00 and gave the company an "outperform" rating in a report on Thursday, January 29th. UBS Group upped their target price on Seagate Technology from $515.00 to $545.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Mizuho upped their price target on shares of Seagate Technology from $565.00 to $700.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Finally, TD Cowen raised their price objective on Seagate Technology from $500.00 to $850.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $733.71.

Seagate Technology Stock Down 1.0%

Shares of STX opened at $733.35 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The firm has a market cap of $164.44 billion, a P/E ratio of 69.58 and a beta of 1.98. Seagate Technology Holdings PLC has a 12 month low of $103.73 and a 12 month high of $841.31. The stock's 50 day moving average is $541.33 and its two-hundred day moving average is $401.33.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping the consensus estimate of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $2.96 billion. During the same period in the previous year, the business earned $1.90 earnings per share. The firm's revenue for the quarter 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 predict that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors 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 dividend on an annualized basis and a dividend yield of 0.4%. Seagate Technology's dividend payout ratio is currently 28.08%.

Insider Activity

In other Seagate Technology news, CFO Gianluca Romano sold 1,902 shares of Seagate Technology stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $770.00, for a total transaction of $1,464,540.00. Following the completion of the sale, the chief financial officer directly owned 40,945 shares in the company, valued at $31,527,650. This trade represents a 4.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 5,626 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 11,954 shares of the company's stock, valued at $8,826,474.98. The trade was a 32.00% 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. In the last quarter, insiders have sold 118,283 shares of company stock worth $65,989,618. 0.79% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding STX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seagate Technology Holdings PLC (NASDAQ:STX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.