Focus Partners Wealth Has $90.46 Million Holdings in Seagate Technology Holdings PLC $STX

Key Points

• Focus Partners Wealth increased its Seagate Technology stake by 69.1% in the fourth quarter, holding 328,392 shares worth about $90.46 million after the purchase.
• Seagate reported better-than-expected fiscal results, with quarterly EPS of $4.10 versus $3.51 expected and revenue of $3.11 billion, up 44.1% year over year.
• Analysts remain broadly bullish, with multiple firms raising price targets and Seagate continuing to benefit from AI and data-center demand; the company also announced a quarterly dividend of $0.74 per share.

Focus Partners Wealth lifted its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 69.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 328,392 shares of the data storage provider's stock after purchasing an additional 134,188 shares during the period. Focus Partners Wealth owned 0.15% of Seagate Technology worth $90,464,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. PFA Pension Forsikringsaktieselskab bought a new stake in Seagate Technology in the fourth quarter valued at approximately $23,882,000. New York State Teachers Retirement System boosted its position 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 valued at $51,510,000 after acquiring an additional 8,991 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Seagate Technology by 1.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider's stock valued at $142,874,000 after acquiring an additional 6,028 shares during the last quarter. Praxis Investment Management Inc. raised its holdings in shares of Seagate Technology by 56.5% during 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 purchasing an additional 2,389 shares during the period. Finally, Keystone Investors PTE Ltd. raised its holdings in shares of Seagate Technology by 55.7% during the third quarter. Keystone Investors PTE Ltd. now owns 50,321 shares of the data storage provider's stock valued at $11,879,000 after purchasing an additional 18,000 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Stock Performance

STX opened at $931.04 on Monday. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. Seagate Technology Holdings PLC has a fifty-two week low of $124.63 and a fifty-two week high of $966.80. The firm has a market capitalization of $208.77 billion, a PE ratio of 88.33 and a beta of 2.04. The company's 50-day moving average is $709.54 and its 200 day moving average is $477.38.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping analysts' consensus estimates of $3.51 by $0.59. The company 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 was up 44.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, research analysts predict that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be paid a $0.74 dividend. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 annualized dividend and a yield of 0.3%. Seagate Technology's dividend payout ratio (DPR) is 28.08%.

Analyst Ratings Changes

Several brokerages have recently weighed in on STX. UBS Group upped their price objective on shares of Seagate Technology from $515.00 to $545.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. BNP Paribas Exane upped their price objective on shares of Seagate Technology from $530.00 to $860.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Mizuho upped their price objective on shares of Seagate Technology from $875.00 to $1,090.00 and gave the company an "outperform" rating in a report on Monday, June 8th. China Renaissance upped their target price on shares of Seagate Technology from $802.00 to $983.00 in a report on Friday. Finally, Citigroup upped their target price on shares of Seagate Technology from $740.00 to $1,150.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $820.63.

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP John Christopher Morris sold 574 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $821.66, for a total value of $471,632.84. Following the completion of the sale, the executive vice president owned 12,199 shares in the company, valued at approximately $10,023,430.34. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Shankar Arumugavelu sold 1,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $927.68, for a total transaction of $927,680.00. Following the completion of the sale, the director owned 6,626 shares of the company's stock, valued at approximately $6,146,807.68. This trade represents a 13.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 160,629 shares of company stock worth $112,739,671. Company insiders own 0.79% of the company's stock.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Seagate announced it will redeem all outstanding 3.50% Exchangeable Senior Notes due 2028, a move investors view as a balance-sheet strengthening step. Seagate Announces Redemption of Exchangeable Notes
• Positive Sentiment: Analysts remained bullish, with JPMorgan raising its price target to $920 and keeping an Overweight rating, while China Renaissance lifted its target to $983, reinforcing momentum in the stock. JPMorgan raises price target on Seagate Technology to 920 from 775, maintains overweight rating
• Positive Sentiment: Reports highlighted surging free cash flow and record AI-related demand, suggesting Seagate is benefiting from cloud and data-center storage expansion. Seagate's Strengthening Free Cash Flow: Can Growth Continue?
• Positive Sentiment: Another update said Seagate has most of its nearline storage capacity allocated through 2027 and raised its long-term annual revenue growth target to at least 20%, pointing to sustained demand from large cloud customers. Seagate Locks In Nearline Demand And Lifts Long Term Growth Outlook
• Neutral Sentiment: Several Seagate executives sold shares this week, including the CFO and CEO, which may weigh on sentiment a bit, but the sales were relatively small versus their remaining holdings. Insider Selling: Seagate Technology NASDAQ: STX EVP Sells 574 Shares of 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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