Fifth Third Bancorp Sells 2,861 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Fifth Third Bancorp reduced its Seagate Technology stake by 9.8% in the first quarter, selling 2,861 shares and leaving it with 26,198 shares valued at about $10.3 million.
• Seagate continues to see heavy interest from large institutional investors, even as some executives have sold shares under pre-arranged trading plans; institutions still own 92.87% of the company.
• Analyst sentiment remains broadly positive despite recent volatility: Citigroup raised its price target to $1,240 and Seagate’s latest earnings beat estimates, with revenue up 44.1% year over year.

Fifth Third Bancorp cut its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,198 shares of the data storage provider's stock after selling 2,861 shares during the period. Fifth Third Bancorp's holdings in Seagate Technology were worth $10,263,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its stake 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 buying an additional 1,883,769 shares during the period. Norges Bank bought a new position in shares of Seagate Technology during the fourth quarter valued at about $498,363,000. Soroban Capital Partners LP boosted its stake in shares of Seagate Technology by 1,468.1% in the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider's stock worth $204,602,000 after buying an additional 1,327,197 shares during the last quarter. Deutsche Bank AG boosted its position in Seagate Technology by 102.0% in the fourth quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider's stock worth $440,614,000 after purchasing an additional 807,962 shares during the last quarter. Finally, National Pension Service grew its position in Seagate Technology by 298.7% during the fourth quarter. National Pension Service now owns 997,223 shares of the data storage provider's stock valued at $274,625,000 after buying an additional 747,102 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 989 shares of the company's stock in a transaction dated 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 directly owned 4,290 shares of the company's stock, valued at $3,776,015.10. This represents a 18.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 company's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $1,200,579.16. Following the completion of the sale, the executive vice president owned 12,088 shares in the company, valued at approximately $10,639,736.72. This trade represents a 10.14% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 151,069 shares of company stock valued at $126,191,753 over the last 90 days. 0.79% of the stock is owned by corporate insiders.

Seagate Technology News Summary

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

• Positive Sentiment: Citigroup raised its price target on Seagate Technology to $1,240 from $1,150 and reiterated a buy rating, signaling continued analyst confidence in the company’s upside. Tickerreport.com
• Positive Sentiment: Zacks highlighted Seagate as one of several memory stocks that look attractive after the recent sell-off, citing AI demand, improving pricing, and lower valuations. Zacks
• Neutral Sentiment: Seagate said it will report fiscal fourth-quarter and full-year 2026 results on July 28, which puts investors in wait-and-see mode ahead of the earnings release. Business Wire
• Neutral Sentiment: Commentary around Seagate’s upcoming earnings focuses on whether AI and cloud demand can offset concerns about inventory levels, cloud capex hesitation, and macro volatility. Yahoo Finance
• Negative Sentiment: Seagate has been caught in a broader memory-stock selloff triggered by weak sentiment around SK Hynix and renewed doubts about AI demand and memory pricing. Yahoo Finance

Seagate Technology Trading Up 2.1%

NASDAQ STX opened at $878.31 on Wednesday. The stock has a 50 day simple moving average of $886.49 and a two-hundred day simple moving average of $581.00. Seagate Technology Holdings PLC has a fifty-two week low of $138.30 and a fifty-two week high of $1,145.00. The stock has a market cap of $196.94 billion, a P/E ratio of 83.33 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.

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

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were given a dividend of $0.74 per share. The ex-dividend date was Wednesday, June 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. Seagate Technology's payout ratio is currently 28.08%.

Analysts Set New Price Targets

STX has been the subject of several research reports. Zacks Research lowered Seagate Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Seagate Technology in a report on Wednesday, June 24th. BNP Paribas Exane upped their target price on Seagate Technology from $530.00 to $860.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Melius Research assumed coverage on shares of Seagate Technology in a research report on Monday, June 29th. They set a "buy" rating and a $1,600.00 price objective on the stock. Finally, Evercore raised their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the company an "outperform" rating in a report on Tuesday, May 12th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $898.52.

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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