Cvfg LLC purchased a new position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 22,691 shares of the data storage provider's stock, valued at approximately $8,889,000. Seagate Technology accounts for about 1.1% of Cvfg LLC's portfolio, making the stock its 21st largest holding.
Several other hedge funds have also recently bought and sold shares of STX. Cornerstone Wealth Group LLC grew its holdings in Seagate Technology by 0.5% in the first quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider's stock valued at $1,388,000 after purchasing an additional 19 shares during the last quarter. Gateway Investment Advisers LLC raised its stake in shares of Seagate Technology by 1.8% during the 4th quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider's stock worth $385,000 after buying an additional 25 shares during the last quarter. Trajan Wealth LLC boosted its position in shares of Seagate Technology by 1.9% in the 4th quarter. Trajan Wealth LLC now owns 1,325 shares of the data storage provider's stock worth $365,000 after buying an additional 25 shares in the last quarter. TSG Advice Partners LLC boosted its position in shares of Seagate Technology by 1.9% in the 1st quarter. TSG Advice Partners LLC now owns 1,448 shares of the data storage provider's stock worth $567,000 after buying an additional 27 shares in the last quarter. Finally, Fortis Capital Management LLC grew its stake in Seagate Technology by 1.1% in the 4th quarter. Fortis Capital Management LLC now owns 2,557 shares of the data storage provider's stock valued at $704,000 after acquiring an additional 27 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages have issued reports on STX. 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 report on Wednesday, April 29th. Bank of America increased their price target on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the company a "buy" rating in a research report on Wednesday, July 1st. Mizuho lifted their price objective on Seagate Technology from $875.00 to $1,090.00 and gave the stock an "outperform" rating in a research report on Monday, June 8th. Wedbush upped their target price on Seagate Technology from $700.00 to $825.00 and gave the company an "outperform" rating in a research note on Monday, April 27th. Finally, TD Cowen increased their target price on Seagate Technology from $500.00 to $850.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Seagate Technology currently has an average rating of "Moderate Buy" and an average target price of $880.52.
Check Out Our Latest Stock Report on STX
Key Headlines Impacting Seagate Technology
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: Seagate was named a top momentum stock for July, with screens pointing to strong price trends, earnings surprises, and growth expectations. Micron & 2 Momentum Stocks to Buy in July for Explosive Upside
- Positive Sentiment: Analysts said Seagate has the right setup for another earnings beat, pointing to its strong track record of topping estimates. Will Seagate (STX) Beat Estimates Again in Its Next Earnings Report?
- Positive Sentiment: BofA reiterated its Buy rating and raised its price target, reinforcing the view that Seagate can keep benefiting from AI-driven storage demand. Is Seagate (STX) the Best Pick and Shovel AI Stock to Invest In?
- Positive Sentiment: Sector commentary said memory and storage stocks are rebounding as analysts point to attractive entry points, pricing strength, and persistent AI demand. Memory stocks rebound as analysts flag a buying opportunity
- Positive Sentiment: Another sector note argued that Seagate is seeing margin expansion and tight supply conditions, supporting the bullish AI hardware narrative. Flash Crash or Cash? The AI Hardware Reset Investors Can’t Ignore (STX)
- Neutral Sentiment: One valuation-focused article said Seagate has had a huge multi-year run and now trades at a premium, so investors are watching whether the stock has already priced in much of the good news. Seagate (STX) Stock Trades At A Premium As Its 14x Run Tests Fair Value
- Neutral Sentiment: Brokerage consensus remains “Moderate Buy,” which supports sentiment but does not add a fresh near-term catalyst. Seagate Technology Holdings PLC NASDAQ: STX Receives Consensus Recommendation of "Moderate Buy" from Brokerages
Insiders Place Their Bets
In other news, CEO William D. Mosley sold 30,000 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the completion of the transaction, the chief executive officer owned 339,591 shares of the company's stock, valued at $255,131,322.39. This represents a 8.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the transaction, the executive vice president owned 3,691 shares in the company, valued at approximately $3,016,580.48. The trade was a 68.44% decrease in their ownership of the stock. 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 151,069 shares of company stock valued at $126,191,753. 0.79% of the stock is owned by corporate insiders.
Seagate Technology Stock Performance
NASDAQ:STX opened at $827.64 on Wednesday. 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 firm has a market cap of $185.58 billion, a PE ratio of 78.52 and a beta of 2.04. The firm has a 50 day simple moving average of $863.76 and a 200-day simple moving average of $560.15. Seagate Technology Holdings PLC has a 1-year low of $138.30 and a 1-year high of $1,145.00.
Seagate Technology (NASDAQ:STX - Get Free Report) last released 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 firm had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. Seagate Technology's revenue for the quarter was up 44.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities analysts expect that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.
Seagate Technology Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, June 24th. Seagate Technology's dividend payout ratio is presently 28.08%.
About Seagate Technology
(
Free Report)
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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