Forum Financial Management LP Has $588,000 Stake in Seagate Technology Holdings PLC $STX

Key Points

• Forum Financial Management cut its Seagate Technology stake by 65.3% in the first quarter, leaving it with 1,501 shares valued at about $588,000.
• Seagate continues to draw bullish analyst attention, with firms like Cantor Fitzgerald and Melius Research lifting price targets and maintaining positive ratings on expectations for AI-driven storage demand.
• The company reported strong quarterly results, beating EPS and revenue estimates, while insiders including the CFO and CEO sold shares under pre-arranged trading plans during the last quarter.

Forum Financial Management LP lowered its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 65.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,501 shares of the data storage provider's stock after selling 2,819 shares during the period. Forum Financial Management LP's holdings in Seagate Technology were worth $588,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Salomon & Ludwin LLC boosted its stake in 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 purchasing an additional 51 shares in the last quarter. Rakuten Securities Inc. increased its stake in shares of Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock valued at $27,000 after buying an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. bought a new position in shares of Seagate Technology in the fourth quarter valued at about $28,000. Avion Wealth raised its holdings in shares of Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider's stock valued at $28,000 after buying an additional 79 shares during the last quarter. Finally, Concord Wealth Partners acquired a new position in Seagate Technology during the 4th quarter worth about $28,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Key Seagate Technology News

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

• Positive Sentiment: Cantor Fitzgerald raised its price target on Seagate Technology to $1,300 from $1,000 and reiterated an overweight rating, signaling confidence that the company still has meaningful upside. Benzinga report on Cantor Fitzgerald target increase
• Positive Sentiment: Melius Research initiated coverage with a buy rating and a $1,600 price target, reflecting a very constructive view on Seagate’s earnings power and demand outlook. Benzinga report on Melius initiation
• Positive Sentiment: Several recent articles highlight Seagate as a top AI infrastructure and storage beneficiary, citing strong demand for high-capacity drives, HAMR product wins, and repeated earnings beats as key growth drivers. Zacks AI infrastructure article
• Neutral Sentiment: Some recent coverage remains positive but warns the stock has already rerated dramatically, with one Seeking Alpha piece downgrading the rating from Strong Buy to Buy because a lot of the upside may already be reflected in the current price. Seeking Alpha downgrade article
• Neutral Sentiment: Another article framed Seagate as “too hot to handle,” emphasizing that AI-driven growth is strong but cyclical risks remain, which may temper expectations after the stock’s huge run. Seeking Alpha cyclical risks article
• Negative Sentiment: One Zacks note compared Seagate with Micron and suggested Micron may offer better AI-storage upside, which could shift some investor preference away from STX. Zacks comparison article

Insider Activity

In other Seagate Technology news, CFO Gianluca Romano sold 22,488 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total value of $17,410,659.36. Following the completion of the sale, the chief financial officer directly owned 42,847 shares in the company, valued at $33,173,004.34. This represents a 34.42% decrease in their ownership of the stock. The sale was disclosed in a legal 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, CEO William D. Mosley sold 30,000 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total value of $22,538,700.00. Following the completion of the sale, the chief executive officer owned 339,591 shares of the company's stock, valued at $255,131,322.39. This trade represents a 8.12% 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. Insiders sold 121,069 shares of company stock worth $98,747,112 over the last quarter. Corporate insiders own 0.79% of the company's stock.

Seagate Technology Price Performance

Shares of STX opened at $965.00 on Wednesday. The stock has a market cap of $216.38 billion, a P/E ratio of 91.56 and a beta of 2.04. The stock's 50-day moving average price is $835.80 and its two-hundred day moving average price is $540.40. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. Seagate Technology Holdings PLC has a 1 year low of $138.30 and a 1 year high of $1,145.00.

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. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The firm had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $2.96 billion. During the same quarter in the previous year, the company earned $1.90 earnings per share. The business's revenue for the quarter was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities analysts predict 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 will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be issued a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. Seagate Technology's payout ratio is 28.08%.

Wall Street Analyst Weigh In

A number of brokerages have commented on STX. Zacks Research raised shares of Seagate Technology from a "hold" rating to a "strong-buy" rating in a report on Friday, May 1st. Wells Fargo & Company boosted their target price on shares of Seagate Technology from $700.00 to $900.00 and gave the stock an "equal weight" rating in a research note on Monday, June 1st. TD Cowen upped their target price on shares of Seagate Technology from $500.00 to $850.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Mizuho increased their price target on shares of Seagate Technology from $875.00 to $1,090.00 and gave the company an "outperform" rating in a research note on Monday, June 8th. Finally, Morgan Stanley raised their price target on shares of Seagate Technology from $767.00 to $1,035.00 and gave the company an "overweight" rating in a report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $874.52.

Seagate Technology Company 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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