Barclays PLC Raises Position in Seagate Technology Holdings PLC $STX

Key Points

• Barclays PLC increased its Seagate position by 44.6% in the fourth quarter, buying 240,345 additional shares and bringing its stake to 779,811 shares valued at about $214.8 million.
• Seagate is drawing strong analyst support, with multiple firms raising price targets, including JPMorgan to $920 and China Renaissance to $983, while the overall consensus remains a Moderate Buy.
• The company reported strong fundamentals and upbeat guidance, beating quarterly EPS and revenue estimates, and it has also boosted its long-term outlook on the back of AI and cloud-driven demand.

Barclays PLC grew its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 44.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 779,811 shares of the data storage provider's stock after buying an additional 240,345 shares during the period. Barclays PLC owned approximately 0.36% of Seagate Technology worth $214,752,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Salomon & Ludwin LLC grew its position in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock valued at $27,000 after buying an additional 51 shares during the period. Armstrong Advisory Group Inc. bought a new stake in Seagate Technology during the fourth quarter valued at approximately $28,000. Concord Wealth Partners bought a new stake in Seagate Technology during the fourth quarter valued at approximately $28,000. Avion Wealth boosted its position in shares of Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider's stock worth $28,000 after purchasing an additional 79 shares during the period. Finally, Quarry LP bought a new position in shares of Seagate Technology in the fourth quarter worth approximately $31,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Seagate announced it will redeem all outstanding 3.50% Exchangeable Senior Notes due 2028, a move investors view as a balance-sheet strengthening step. Seagate Announces Redemption of Exchangeable Notes
• Positive Sentiment: Analysts remained bullish, with JPMorgan raising its price target to $920 and keeping an Overweight rating, while China Renaissance lifted its target to $983, reinforcing momentum in the stock. JPMorgan raises price target on Seagate Technology to 920 from 775, maintains overweight rating
• Positive Sentiment: Reports highlighted surging free cash flow and record AI-related demand, suggesting Seagate is benefiting from cloud and data-center storage expansion. Seagate's Strengthening Free Cash Flow: Can Growth Continue?
• Positive Sentiment: Another update said Seagate has most of its nearline storage capacity allocated through 2027 and raised its long-term annual revenue growth target to at least 20%, pointing to sustained demand from large cloud customers. Seagate Locks In Nearline Demand And Lifts Long Term Growth Outlook
• Neutral Sentiment: Several Seagate executives sold shares this week, including the CFO and CEO, which may weigh on sentiment a bit, but the sales were relatively small versus their remaining holdings. Insider Selling: Seagate Technology NASDAQ: STX EVP Sells 574 Shares of Stock

Insiders Place Their Bets

In other Seagate Technology news, CFO Gianluca Romano sold 1,350 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $821.76, for a total transaction of $1,109,376.00. Following the completion of the transaction, the chief financial officer directly owned 41,380 shares of the company's stock, valued at approximately $34,004,428.80. This trade represents a 3.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ban Seng Teh sold 663 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $821.86, for a total transaction of $544,893.18. Following the transaction, the executive vice president directly owned 4,290 shares of the company's stock, valued at $3,525,779.40. This represents a 13.39% 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. In the last ninety days, insiders sold 160,629 shares of company stock worth $112,739,671. Insiders own 0.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. UBS Group upped their target price on shares of Seagate Technology from $515.00 to $545.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 29th. China Renaissance upped their target price on shares of Seagate Technology from $802.00 to $983.00 in a research report on Friday. Weiss Ratings restated a "buy (b)" rating on shares of Seagate Technology in a research report on Friday, March 27th. The Goldman Sachs Group upped their target price on shares of Seagate Technology from $385.00 to $700.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Finally, BNP Paribas Exane upped their target price on shares of Seagate Technology from $530.00 to $860.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $820.63.

Seagate Technology Stock Performance

STX stock opened at $931.04 on Monday. The company has a market capitalization of $208.77 billion, a PE ratio of 88.33 and a beta of 2.04. Seagate Technology Holdings PLC has a 12 month low of $124.63 and a 12 month high of $966.80. The firm's 50-day moving average is $709.54 and its 200 day moving average is $477.38. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results 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. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The company had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $2.96 billion. During the same period in the prior year, the business 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. On average, research analysts anticipate that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Dividend Announcement

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. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Wednesday, June 24th. Seagate Technology's dividend payout ratio (DPR) is currently 28.08%.

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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