Dorsey Wright & Associates Has $6.81 Million Stock Position in Seagate Technology Holdings PLC $STX

Key Points

• Dorsey Wright & Associates increased its Seagate Technology stake by 65.1% in the first quarter, ending with 17,386 shares valued at about $6.81 million.
• Wall Street sentiment remains broadly bullish: 22 analysts rate STX a Buy and the consensus price target is $898.52, even as a few firms have raised targets sharply higher.
• Seagate reported strong quarterly results, with EPS of $4.10 beating estimates and revenue rising 44.1% year over year; the company also paid a quarterly dividend of $0.74 per share.

Dorsey Wright & Associates grew its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 65.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,386 shares of the data storage provider's stock after acquiring an additional 6,855 shares during the quarter. Dorsey Wright & Associates' holdings in Seagate Technology were worth $6,811,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in STX. PFA Pension Forsikringsaktieselskab bought a new stake in shares of Seagate Technology in the 4th quarter valued at about $23,882,000. New York State Teachers Retirement System grew its stake in Seagate Technology by 5.0% during the fourth quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider's stock worth $51,510,000 after purchasing an additional 8,991 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Seagate Technology by 1.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider's stock worth $142,874,000 after purchasing an additional 6,028 shares in the last quarter. Praxis Investment Management Inc. lifted its stake in Seagate Technology by 56.5% in the fourth quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider's stock valued at $1,822,000 after buying an additional 2,389 shares during the period. Finally, Ritholtz Wealth Management boosted its holdings in shares of Seagate Technology by 64.5% during the 4th quarter. Ritholtz Wealth Management now owns 21,321 shares of the data storage provider's stock worth $5,872,000 after buying an additional 8,358 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on STX shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Seagate Technology in a research report on Wednesday, June 24th. Rosenblatt Securities raised their price target on shares of Seagate Technology from $500.00 to $1,000.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. China Renaissance upped their price objective on shares of Seagate Technology from $802.00 to $983.00 in a report on Friday, June 12th. Loop Capital increased their price objective on shares of Seagate Technology from $950.00 to $1,140.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Finally, BNP Paribas Exane raised their target price on Seagate Technology from $530.00 to $860.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Twenty-two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Seagate Technology presently has an average rating of "Moderate Buy" and an average price target of $898.52.

Seagate Technology Stock Performance

Shares of STX opened at $787.66 on Friday. The firm has a market capitalization of $176.62 billion, a P/E ratio of 74.73 and a beta of 2.04. Seagate Technology Holdings PLC has a 52 week low of $138.30 and a 52 week high of $1,145.00. The stock has a 50 day moving average price of $887.01 and a two-hundred day moving average price of $589.45. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating analysts' consensus estimates of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period last year, the firm earned $1.90 earnings per share. The firm's revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Equities analysts forecast that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were issued a $0.74 dividend. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $2.96 annualized dividend and a yield of 0.4%. Seagate Technology's dividend payout ratio (DPR) is 28.08%.

More Seagate Technology News

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

• Positive Sentiment: Analysts and market commentators highlighted Seagate as one of the memory/storage names best positioned to benefit from global AI infrastructure spending, citing rising demand for advanced storage and improving revenue and margin trends. 4 Top-Ranked Memory Stocks to Buy as AI Infrastructure Expands Globally
• Positive Sentiment: Additional bullish coverage said Seagate could be a smaller AI stock with room to run, pointing to strong execution, expanding margins, and earnings growth potential that may continue to attract investors. Everyone's Buying NVIDIA, but 2 Smaller AI Stocks Could Soar Higher
• Positive Sentiment: Seagate also received a favorable mention in an analyst blog round-up and in commentary describing the stock as benefiting from a strong cost advantage and AI-related storage demand. The Zacks Analyst Blog Highlights NVIDIA, AMD, Taiwan Semiconductor Manufacturing and Seagate
• Neutral Sentiment: Market-watch coverage noted Seagate underperformed some peers in recent trading sessions, suggesting investor enthusiasm has not been uniform across the storage group. Seagate Technology Holdings PLC stock underperforms Thursday when compared to competitors
• Neutral Sentiment: Broader tech and chip-stock weakness, including pressure on the semiconductor index, is still weighing on the sector and can limit gains for Seagate despite its company-specific positives. The SOX Index Fell 16% in Less Than a Month
• Negative Sentiment: Tech stocks were under pressure overall, which may have contributed to weakness in Seagate shares even as the company’s long-term fundamentals remain tied to AI-driven storage demand. Sector Update: Tech Stocks Fall Thursday Afternoon

Insider Transactions at Seagate Technology

In related news, CFO Gianluca Romano sold 903 shares of the firm'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 $794,811.57. Following the completion of the transaction, the chief financial officer directly owned 42,860 shares of the company's stock, valued at approximately $37,724,943.40. This trade represents a 2.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ban Seng Teh sold 989 shares of Seagate Technology 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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 151,069 shares of company stock worth $126,191,753. Insiders own 0.79% of the company's stock.

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.

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