Contravisory Investment Management Inc. Acquires 1,517 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Contravisory Investment Management increased its Seagate stake by 590.3% in the second quarter, acquiring 1,517 additional shares for a total of 1,774 shares valued at approximately $1.7 million. Institutional investors and hedge funds collectively own 92.87% of Seagate’s stock.
• Seagate reported quarterly EPS of $5.71 and revenue of $3.63 billion, beating expectations while revenue grew 48.5% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $986, citing AI-driven storage demand and stronger pricing power.
• Despite strong fundamentals, the stock faces volatility and valuation concerns: shares recently opened at $812.76 after trading as high as $1,145, while insiders sold roughly $126.7 million of stock over the past 90 days and broader storage shares weakened over potential oversupply risks.

Contravisory Investment Management Inc. grew its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 590.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,774 shares of the data storage provider's stock after acquiring an additional 1,517 shares during the period. Contravisory Investment Management Inc.'s holdings in Seagate Technology were worth $1,712,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its holdings in Seagate Technology by 1,510.1% during the 4th 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 during the period. Norges Bank bought a new stake in shares of Seagate Technology during the fourth quarter worth about $498,363,000. Soroban Capital Partners LP raised its stake in shares of Seagate Technology by 1,468.1% in 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 purchasing an additional 1,327,197 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Seagate Technology by 3,872.1% during the 1st quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider's stock valued at $378,985,000 after acquiring an additional 943,170 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Seagate Technology by 102.0% during the fourth quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider's stock valued at $440,614,000 after purchasing an additional 807,962 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

More Seagate Technology News

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

• Positive Sentiment: Analysts raised Seagate’s estimated fair value from $959.48 to $1,115.87, citing stronger hard-drive pricing power, AI-related storage demand, and improving expectations for margins and cash generation. Seagate stock fair value rises after analysts lift storage demand
• Positive Sentiment: Jim Cramer argued that Seagate’s recent earnings were not poor, reinforcing the view that the company remains a beneficiary of AI-related demand. Seagate previously exceeded quarterly earnings and revenue expectations and issued strong forward EPS guidance. Jim Cramer discusses Seagate earnings
• Neutral Sentiment: Seagate remains one of the growth stocks highlighted for August, with analysts pointing to continued AI-driven demand as a potential long-term opportunity. Top-ranked growth stocks for August
• Negative Sentiment: Western Digital’s earnings beat was overshadowed by guidance that failed to meet extremely high investor expectations. Because Seagate and Western Digital compete in hard-disk drives, the disappointment triggered broader selling across memory and storage stocks. Why Western Digital stock is sinking
• Negative Sentiment: Shares across the sector, including Seagate, Western Digital, Sandisk, Micron and SK Hynix, continued to weaken as investors questioned whether AI-related memory demand and pricing can sustain current valuations.
• Negative Sentiment: SK Hynix’s approval of roughly $38 billion for two new memory fabrication plants heightened concerns about future capacity expansion, capital spending and a possible oversupply cycle in 2027. SK Hynix approves new memory fabs

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 989 shares of the firm's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $870,507.91. Following the completion of the transaction, the executive vice president owned 4,290 shares of the company's stock, valued at approximately $3,776,015.10. This trade represents a 18.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP James Ci Lee sold 694 shares of the business's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $877.45, for a total transaction of $608,950.30. Following the sale, the executive vice president directly owned 347 shares in the company, valued at $304,475.15. The trade was a 66.67% 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 90 days, insiders sold 149,638 shares of company stock worth $126,692,095. 0.79% of the stock is owned by corporate insiders.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $812.76 on Monday. Seagate Technology Holdings PLC has a one year low of $148.56 and a one year high of $1,145.00. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. The firm's 50 day simple moving average is $894.71 and its two-hundred day simple moving average is $648.12. The stock has a market capitalization of $184.21 billion, a P/E ratio of 58.56 and a beta of 2.06.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The firm had revenue of $3.63 billion for the quarter, compared to analysts' expectations of $3.50 billion. During the same period last year, the firm earned $2.59 earnings per share. The company's revenue for the quarter was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, analysts expect that Seagate Technology Holdings PLC will post 34.42 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology's dividend payout ratio (DPR) is currently 21.33%.

Wall Street Analyst Weigh In

STX has been the subject of a number of recent analyst reports. Evercore upped their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Tuesday, May 12th. 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. Barclays boosted their price target on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. UBS Group raised their price objective on shares of Seagate Technology from $515.00 to $545.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. Finally, Argus lifted their price objective on shares of Seagate Technology from $750.00 to $900.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Seagate Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $986.00.

About Seagate Technology

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source