Delta Global Management LP Makes New Investment in Seagate Technology Holdings PLC $STX

Key Points

• Delta Global Management initiated a new stake in Seagate Technology, buying 73,120 shares worth about $20.1 million. The position now represents roughly 0.9% of its portfolio.
• Seagate reported stronger-than-expected quarterly results, with EPS of $4.10 versus consensus of $3.51 and revenue of $3.11 billion, up 44.1% year over year. The company also issued Q4 2026 EPS guidance of $4.80 to $5.20.
• Analyst sentiment remains broadly positive, with firms like Morgan Stanley sharply raising their price targets amid optimism around HDD pricing and AI data-center demand. Seagate also announced a quarterly dividend of $0.74 per share.

Delta Global Management LP bought a new position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 73,120 shares of the data storage provider's stock, valued at approximately $20,137,000. Seagate Technology comprises about 0.9% of Delta Global Management LP's portfolio, making the stock its 25th largest position.

Other institutional investors also recently modified their holdings of the company. Salomon & Ludwin LLC raised its stake in shares of Seagate Technology by 124.4% in the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock worth $27,000 after acquiring an additional 51 shares during the last quarter. Rakuten Securities Inc. grew its position in shares of Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock worth $27,000 after buying an additional 168 shares during the period. Armstrong Advisory Group Inc. acquired a new stake in shares of Seagate Technology during the 4th quarter worth approximately $28,000. Avion Wealth grew its position 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 worth $28,000 after buying an additional 79 shares during the period. Finally, Concord Wealth Partners acquired a new stake in shares of Seagate Technology during the 4th quarter worth approximately $28,000. 92.87% of the stock is owned by institutional investors.

Seagate Technology Stock Performance

Shares of STX stock opened at $1,018.80 on Tuesday. The company's fifty day simple moving average is $721.33 and its 200-day simple moving average is $482.71. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The firm has a market cap of $228.45 billion, a PE ratio of 96.66 and a beta of 2.04. Seagate Technology Holdings PLC has a 12 month low of $127.61 and a 12 month high of $1,032.52.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $3.11 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Equities research analysts expect that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology's payout ratio is currently 28.08%.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Morgan Stanley sharply raised its price target on Seagate Technology (STX) to $1,035 from $767 and reiterated an Overweight rating, citing strong earnings, improving hard-disk-drive pricing, and expectations that supply shortages could last through at least 2028. Benzinga reference
• Positive Sentiment: Analysts and market reports highlighted Seagate as a beneficiary of rising AI data-center demand, with broader tech and memory/storage stocks also gaining on improved sector sentiment. Yahoo Finance reference
• Positive Sentiment: Seagate’s recent debt redemption, which removed about $150.7 million of exchangeable notes, may be viewed as a modest balance-sheet positive because it reduces leverage and improves financial flexibility. Yahoo Finance reference
• Neutral Sentiment: Multiple Seagate executives, including CEO William D. Mosley and CFO Gianluca Romano, disclosed insider share sales dated June 12. Several trades were made under pre-arranged 10b5-1 plans, so they are not necessarily a negative signal on fundamentals.

Insiders Place Their Bets

In other news, EVP Ban Seng Teh sold 989 shares of the business's stock in a transaction 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 sale, the executive vice president owned 4,290 shares of the company's stock, valued at $3,776,015.10. The trade was a 18.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 903 shares of the business'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 $794,811.57. Following the completion of the sale, the chief financial officer directly owned 42,860 shares in the company, valued at approximately $37,724,943.40. This represents a 2.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 165,653 shares of company stock valued at $117,161,746 over the last 90 days. 0.79% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. 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 report on Wednesday, April 29th. BNP Paribas Exane lifted their price target on shares of Seagate Technology from $530.00 to $860.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. The Goldman Sachs Group lifted their price target 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. Finally, Wells Fargo & Company lifted their price target on shares of Seagate Technology from $700.00 to $900.00 and gave the stock an "equal weight" rating in a research report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $831.79.

Seagate Technology 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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