Eventide Asset Management LLC Sells 40,338 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Eventide Asset Management cut its Seagate Technology position by 96.6% in the fourth quarter, selling 40,338 shares and leaving it with 1,430 shares worth about $400,000.
• Seagate reported stronger-than-expected quarterly results, with EPS of $4.10 and revenue of $3.11 billion, both topping analyst estimates. The company also guided Q4 2026 EPS to $4.80-$5.20.
• Wall Street sentiment remains broadly positive: several analysts raised price targets, and Seagate’s latest dividend is $0.74 per share, payable July 7, with a 0.3% yield.

Eventide Asset Management LLC decreased its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 96.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,430 shares of the data storage provider's stock after selling 40,338 shares during the period. Eventide Asset Management LLC's holdings in Seagate Technology were worth $400,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STX. Integrated Wealth Concepts LLC raised its stake in Seagate Technology by 168.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider's stock worth $610,000 after acquiring an additional 4,499 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Seagate Technology in the second quarter worth $262,000. Cerity Partners LLC boosted its position in shares of Seagate Technology by 25.8% during the second quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider's stock worth $5,294,000 after acquiring an additional 7,517 shares during the last quarter. Sei Investments Co. increased its holdings in Seagate Technology by 64.8% in the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider's stock valued at $1,233,000 after acquiring an additional 3,358 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Seagate Technology by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider's stock valued at $18,458,000 after acquiring an additional 462 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

Insider Activity

In related news, EVP Ban Seng Teh sold 989 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 1,364 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $1,200,579.16. Following the sale, the executive vice president directly owned 12,088 shares of the company's stock, valued at $10,639,736.72. This represents a 10.14% 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. Insiders sold 165,653 shares of company stock worth $117,161,746 in the last three months. Corporate insiders own 0.79% of the company's stock.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $1,018.80 on Tuesday. The stock has a market cap of $228.45 billion, a price-to-earnings ratio of 96.66 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. The stock has a 50 day moving average price of $721.33 and a 200-day moving average price of $482.71. Seagate Technology Holdings PLC has a one year low of $127.61 and a one year high of $1,032.52.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its 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 firm 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 company's quarterly revenue was up 44.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. 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 declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be paid a dividend of $0.74 per share. 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 dividend payout ratio (DPR) is currently 28.08%.

Wall Street Analyst Weigh In

Several research firms have commented on STX. Citigroup increased their price objective on shares of Seagate Technology from $740.00 to $1,150.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. China Renaissance increased their price target on Seagate Technology from $802.00 to $983.00 in a research note on Friday. Wall Street Zen upgraded Seagate Technology from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Rosenblatt Securities raised their price target on Seagate Technology from $500.00 to $1,000.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Finally, BNP Paribas Exane raised their price target on Seagate Technology from $530.00 to $860.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Seagate Technology has a consensus rating of "Moderate Buy" and a consensus price target of $831.79.

Seagate Technology News Summary

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

• Positive Sentiment: Morgan Stanley raised its price target on Seagate Technology (STX) to $1,035 from $767 and reiterated an Overweight rating, citing improving HDD pricing and expectations that supply shortages could last through at least 2028. Benzinga reference
• Positive Sentiment: Several market reports highlighted Seagate as a beneficiary of stronger AI/data-center storage demand, with tech and memory stocks broadly gaining on optimism around the sector. Yahoo Finance reference
• Positive Sentiment: Seagate also received fresh support from “growth stock” and “AI memory/storage” articles that framed STX as an attractive way to play tightening supply and rising infrastructure spending. Zacks reference
• Neutral Sentiment: Seagate disclosed multiple insider sales on June 12, including CEO William D. Mosley and executives Gianluca Romano, Ban Seng Teh, and John Christopher Morris. The sales were sizable in dollar terms, but several were made under pre-arranged trading plans and do not necessarily signal a change in fundamentals.
• Neutral Sentiment: Seagate redeemed its 3.50% exchangeable senior notes due 2028, removing roughly $150.7 million of debt and improving balance-sheet flexibility. Yahoo Finance reference

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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