Capital Research Global Investors Decreases Holdings in Seagate Technology Holdings PLC $STX

Key Points

• Capital Research Global Investors reduced its Seagate Technology stake by 27.1% in the fourth quarter, selling 1.68 million shares and leaving it with 4.51 million shares valued at about $1.24 billion.
• Seagate continues to benefit from AI-driven storage demand, with recent coverage and analyst notes highlighting stronger data-center spending, tighter industry supply, and higher fair-value targets for the stock.
• The company posted a strong quarter, beating earnings and revenue estimates and raising guidance, while Wall Street remains broadly bullish with a consensus rating of “Moderate Buy” and a $772.04 price target.

Capital Research Global Investors cut its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 27.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,511,989 shares of the data storage provider's stock after selling 1,677,655 shares during the quarter. Capital Research Global Investors owned 2.07% of Seagate Technology worth $1,242,557,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in STX. Arrowstreet Capital Limited Partnership raised its stake in shares of Seagate Technology by 1,072.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider's stock worth $696,262,000 after acquiring an additional 2,697,957 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Seagate Technology by 1,510.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider's stock worth $553,125,000 after acquiring an additional 1,883,769 shares in the last quarter. Norges Bank purchased a new position in shares of Seagate Technology during the fourth quarter worth approximately $498,363,000. Soroban Capital Partners LP raised its stake in shares of Seagate Technology by 1,468.1% during the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider's stock worth $204,602,000 after acquiring an additional 1,327,197 shares in the last quarter. Finally, National Pension Service raised its stake in shares of Seagate Technology by 298.7% during the fourth quarter. National Pension Service now owns 997,223 shares of the data storage provider's stock worth $274,625,000 after acquiring an additional 747,102 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology News Roundup

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

• Positive Sentiment: Several recent articles and analyst notes highlighted Seagate as a beneficiary of surging AI storage demand, data-center buildout, and tighter industry supply, which has helped improve the investment case and lift price targets. Zacks Analyst Blog Highlights Micron, Sandisk, Seagate, Dell and Comfort Systems
• Positive Sentiment: Analysts are increasingly framing STX as an AI-storage winner, with one recent report saying fair value estimates were reset higher as investors price in stronger demand for higher-capacity drives and improved industry discipline. How The Seagate (STX) Investment Story Is Shifting With AI Storage Demand And New Targets
• Positive Sentiment: Seagate was also included in a “buy these growth stocks” theme around massive AI infrastructure spending, reinforcing investor optimism tied to the company’s storage exposure. Buy These 5 Growth Stocks in June Amid Massive AI Infrastructure Boost
• Positive Sentiment: Recent coverage also noted that Seagate’s quarterly results beat expectations and the company raised guidance, which continues to support the bullish narrative around earnings momentum. Shankar Arumugavelu Sells 1,000 Shares of Seagate Technology NASDAQ: STX Stock
• Neutral Sentiment: A director sold 1,000 shares at $927.68, a transaction that is not huge in size but can still modestly weigh on sentiment because it comes after a strong run in the stock. Shankar Arumugavelu Sells 1,000 Shares of Seagate Technology NASDAQ: STX Stock
• Neutral Sentiment: Broader memory-chip weakness in peers like Micron and SanDisk suggests some cooling in the sector after a sharp run-up, which could spill over into Seagate even though its fundamentals remain strong. Memory-Chip Stocks Micron, Sandisk Get Their Wings Clipped

Wall Street Analyst Weigh In

Several research analysts have commented on STX shares. Cantor Fitzgerald lifted their price target on shares of Seagate Technology from $700.00 to $1,000.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 29th. The Goldman Sachs Group lifted their target price on shares of Seagate Technology from $385.00 to $700.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Morgan Stanley lifted their target price on shares of Seagate Technology from $582.00 to $767.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 29th. TD Cowen lifted their target price on shares of Seagate Technology from $500.00 to $850.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Finally, Wedbush lifted their target price on shares of Seagate Technology from $700.00 to $825.00 and gave the stock an "outperform" rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Seagate Technology has a consensus rating of "Moderate Buy" and a consensus price target of $772.04.

Seagate Technology Stock Down 8.5%

Shares of NASDAQ STX opened at $847.47 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. Seagate Technology Holdings PLC has a 52 week low of $124.63 and a 52 week high of $966.80. The firm's fifty day moving average is $661.50 and its 200 day moving average is $454.23. The company has a market cap of $190.03 billion, a price-to-earnings ratio of 80.41 and a beta of 2.04.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its 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. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The firm's revenue for the quarter was up 44.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities research analysts expect that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be paid 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 0.3%. Seagate Technology's payout ratio is presently 28.08%.

Insider Activity

In other news, Director Prat Bhatt sold 1,000 shares of Seagate Technology stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $929.88, for a total transaction of $929,880.00. Following the sale, the director owned 12,869 shares of the company's stock, valued at approximately $11,966,625.72. The trade was a 7.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $885.33, for a total transaction of $663,997.50. Following the sale, the director directly owned 4,101 shares in the company, valued at $3,630,738.33. The trade was a 15.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 155,187 shares of company stock worth $108,267,701. 0.79% of the stock is owned by company insiders.

Seagate Technology Company 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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