Cidel Asset Management Inc. Purchases Shares of 1,044 Seagate Technology Holdings PLC $STX

Key Points

• Cidel Asset Management disclosed a new first-quarter stake in Seagate Technology, buying 1,044 shares valued at about $409,000.
• Institutional ownership remains very high, with hedge funds and other investors holding 92.87% of Seagate’s stock, and several firms recently boosted or initiated positions.
• Analysts remain bullish overall: multiple firms raised price targets, and the stock currently carries a Moderate Buy consensus with an average target price of $831.79.

Cidel Asset Management Inc. purchased a new stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,044 shares of the data storage provider's stock, valued at approximately $409,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Rakuten Securities Inc. boosted its stake in Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock valued at $27,000 after acquiring an additional 168 shares in the last quarter. Salomon & Ludwin LLC increased its position 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 worth $27,000 after purchasing an additional 51 shares in the last quarter. Armstrong Advisory Group Inc. purchased a new stake in shares of Seagate Technology during the 4th quarter valued at $28,000. Avion Wealth lifted its holdings in shares of Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider's stock valued at $28,000 after purchasing an additional 79 shares during the last quarter. Finally, Concord Wealth Partners acquired a new stake in shares of Seagate Technology in the 4th quarter worth $28,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Mizuho boosted their target price on Seagate Technology from $875.00 to $1,090.00 and gave the stock an "outperform" rating in a research note on Monday, June 8th. Loop Capital increased their price target on Seagate Technology from $950.00 to $1,140.00 and gave the company a "buy" rating in a research note on Friday, May 15th. The Goldman Sachs Group raised their price target on Seagate Technology from $385.00 to $700.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. China Renaissance boosted their price target on Seagate Technology from $802.00 to $983.00 in a research note on Friday, June 12th. Finally, Zacks Research upgraded shares of Seagate Technology from a "hold" rating to a "strong-buy" rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $831.79.

Insider Activity

In related news, CEO William D. Mosley sold 1,768 shares of Seagate Technology stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $1,556,175.92. Following the completion of the sale, the chief executive officer owned 327,517 shares of the company's stock, valued at $288,277,188.23. The trade was a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ban Seng Teh sold 989 shares of the company's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $870,507.91. Following the completion of the sale, the executive vice president owned 4,290 shares in the company, valued at approximately $3,776,015.10. This represents a 18.73% 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. Over the last three months, insiders have sold 141,069 shares of company stock valued at $107,161,712. 0.79% of the stock is owned by insiders.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Micron’s blowout results and strong AI-driven demand are lifting the entire memory/storage complex, including Seagate. Micron and Qualcomm forecasts ignite $400 billion AI chip stock rally
• Positive Sentiment: Analysts and market commentary are highlighting Seagate as an AI infrastructure winner with improving pricing power and durable earnings potential. Seagate (STX) Gets Fresh Backing As An AI Data Storage Winner
• Positive Sentiment: Investor coverage is also pointing to Apple’s warning about rising memory costs as evidence of a broader storage shortage, which could support pricing for Seagate and peers. Apple Just Handed These 4 Memory Stocks Their Best News of the Year
• Neutral Sentiment: Short-interest data showed no meaningful short position change, so this does not appear to be a major near-term driver for the stock.

Seagate Technology Price Performance

Shares of STX opened at $1,025.36 on Friday. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The company's fifty day moving average price is $811.11 and its 200-day moving average price is $526.55. Seagate Technology Holdings PLC has a 1-year low of $138.00 and a 1-year high of $1,145.00. The firm has a market capitalization of $229.92 billion, a PE ratio of 97.28 and a beta of 2.04.

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 analysts' consensus estimates of $3.51 by $0.59. The company had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm's revenue was up 44.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities research analysts predict that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.

Seagate Technology Dividend Announcement

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 paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Wednesday, June 24th. Seagate Technology's dividend payout ratio (DPR) is presently 28.08%.

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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