Central Asset Investments & Management Holdings HK Ltd Purchases 66,399 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Central Asset Investments increased its Seagate Technology stake by 304.2% in the fourth quarter, buying 66,399 more shares and bringing its total to 88,224 shares worth about $24.3 million.
• Seagate reported strong quarterly results, with EPS of $4.10 versus $3.51 expected and revenue of $3.11 billion versus $2.96 billion expected, while revenue rose 44.1% year over year.
• Wall Street remains bullish on STX, with multiple firms raising price targets and the consensus rating standing at “Moderate Buy” with an average target of $719.54.

Central Asset Investments & Management Holdings HK Ltd grew its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 304.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 88,224 shares of the data storage provider's stock after purchasing an additional 66,399 shares during the quarter. Seagate Technology makes up 15.8% of Central Asset Investments & Management Holdings HK Ltd's holdings, making the stock its biggest holding. Central Asset Investments & Management Holdings HK Ltd's holdings in Seagate Technology were worth $24,296,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in STX. Salomon & Ludwin LLC boosted its stake in shares of 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 purchasing an additional 51 shares in the last quarter. Rakuten Securities Inc. boosted its stake in shares of Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock valued at $27,000 after purchasing an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new stake in shares of Seagate Technology during the fourth quarter valued at about $28,000. Avion Wealth raised its position in shares of Seagate Technology by 343.5% during the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider's stock worth $28,000 after acquiring an additional 79 shares during the last quarter. Finally, Concord Wealth Partners bought a new position in shares of Seagate Technology during the fourth quarter worth about $28,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STX has been the subject of a number of analyst reports. 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 report on Wednesday, April 29th. Weiss Ratings restated a "buy (b)" rating on shares of Seagate Technology in a research report on Friday, March 27th. China Renaissance lifted their price objective on Seagate Technology from $325.00 to $452.00 and gave the stock a "buy" rating in a research report on Thursday, January 15th. Morgan Stanley boosted their price objective on Seagate Technology from $582.00 to $767.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. Finally, The Goldman Sachs Group boosted their price objective on Seagate Technology from $385.00 to $700.00 and gave the company 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 issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $719.54.

Seagate Technology Trading Up 1.1%

NASDAQ STX opened at $817.35 on Thursday. The company has a market cap of $183.27 billion, a price-to-earnings ratio of 77.55 and a beta of 1.98. Seagate Technology Holdings PLC has a 52 week low of $103.73 and a 52 week high of $841.31. The business has a 50 day moving average price of $508.89 and a 200-day moving average price of $386.39. 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 (NASDAQ:STX - Get Free Report) last released its quarterly earnings data 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 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities analysts expect 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. Stockholders of record on Wednesday, June 24th will be issued a dividend of $0.74 per share. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. Seagate Technology's payout ratio is currently 28.08%.

Insider Activity

In other news, CEO William D. Mosley sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $420.73, for a total transaction of $8,414,600.00. Following the completion of the sale, the chief executive officer owned 355,591 shares in the company, valued at $149,607,801.43. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 5,626 shares of the business's 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 sale, the executive vice president owned 11,954 shares of the company's stock, valued at approximately $8,826,474.98. This represents a 32.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 102,723 shares of company stock valued at $53,301,684. Corporate insiders own 0.79% of the company's stock.

Key Seagate Technology News

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

• Positive Sentiment: Evercore raised its price target on Seagate Technology Holdings PLC (STX) to $1,000 and reiterated an outperform rating, signaling additional upside after an investor meeting focused on HAMR growth and AI-related storage demand. Seagate gets new $1,000 price target at Evercore after investor meeting
• Positive Sentiment: Another Evercore note also lifted the target to $1,000, highlighting HAMR technology as a key growth driver and reinforcing the bullish view on Seagate’s earnings power. Evercore ISI raises its Seagate stock price target to $1,000. HAMR technology growth is the major trigger
• Positive Sentiment: Seagate’s strong fiscal Q3 results and rising AI infrastructure optimism continue to support the stock, with reports noting record margins and about $1 billion in free cash flow. A Look At Seagate Technology Holdings (STX) Valuation After Strong Q3 Results And Growing AI Infrastructure Optimism
• Neutral Sentiment: Several articles highlighted Seagate’s long-term stock performance and market-cap growth, reflecting strong investor momentum but not adding new operating news. If You Invested $1000 In Seagate Technology Hldgs Stock 20 Years Ago, You Would Have This Much Today

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.

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.