Genus Capital Management Inc. Sells 7,090 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Genus Capital Management reduced its Seagate Technology stake by 13.3% in the fourth quarter, selling 7,090 shares and leaving it with 46,300 shares worth about $12.75 million.
• Seagate continues to draw heavy institutional investor interest, with more than 92% of shares owned by institutions and major holders like Vanguard and State Street adding to positions.
• The company reported strong quarterly results, beating EPS and revenue estimates, while analysts remain generally bullish with an average Moderate Buy rating and a consensus price target of $733.71.

Genus Capital Management Inc. cut its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 13.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,300 shares of the data storage provider's stock after selling 7,090 shares during the period. Seagate Technology comprises 1.5% of Genus Capital Management Inc.'s holdings, making the stock its 16th largest holding. Genus Capital Management Inc.'s holdings in Seagate Technology were worth $12,751,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Seagate Technology by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 28,140,287 shares of the data storage provider's stock worth $6,642,796,000 after buying an additional 442,749 shares during the last quarter. State Street Corp increased its holdings in shares of Seagate Technology by 3.1% in the 3rd quarter. State Street Corp now owns 9,276,278 shares of the data storage provider's stock worth $2,196,420,000 after buying an additional 274,913 shares during the last quarter. WCM Investment Management LLC bought a new stake in shares of Seagate Technology in the 3rd quarter worth about $1,187,621,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Seagate Technology by 1,072.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider's stock worth $696,262,000 after buying an additional 2,697,957 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Seagate Technology by 1,510.1% in 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 last quarter. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology News Summary

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

• Positive Sentiment: Seagate’s latest margin and revenue trends show strong execution, with record gross margins, tight supply, and pricing support pointing to continued earnings upside. Can Seagate Sustain Its Gross Margin Expansion Momentum?
• Positive Sentiment: AI infrastructure spending remains a tailwind for memory and storage stocks, including STX, after Nvidia’s strong results. Seagate Stock, Western Digital Bounce Back After Nvidia Results
• Positive Sentiment: Seagate’s exchange of $185.9 million in notes could support balance-sheet flexibility and reduce financial risk. Seagate Announces Exchanges with Holders of $185.908 Million Principal Amount of Exchangeable Notes
• Neutral Sentiment: CEO William Mosley sold 30,000 shares under a pre-arranged 10b5-1 plan; routine insider selling does not necessarily signal a fundamental change, but it can still weigh on sentiment. SEC filing
• Neutral Sentiment: Some analysts and commentators are questioning valuation, with Jim Cramer calling Seagate “too pricey,” which could limit further upside unless earnings keep accelerating. Jim Cramer on Seagate: “Too Pricey”
• Negative Sentiment: There is also growing caution that the AI memory/storage boom could slow later in the cycle, raising concerns about future supply, pricing, and demand. Advanced Energy, Vishay Precision, and Bel Fuse Shares Plummet, What You Need To Know

Insider Buying and Selling

In other Seagate Technology news, Director Stephanie Tilenius sold 1,580 shares of the business's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $766.61, for a total value of $1,211,243.80. Following the completion of the sale, the director directly owned 10,664 shares of the company's stock, valued at $8,175,129.04. The trade was a 12.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 8,003 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the completion of the sale, the executive vice president directly owned 3,691 shares of the company's stock, valued at approximately $3,016,580.48. This trade represents a 68.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 142,437 shares of company stock worth $86,093,575 over the last 90 days. Corporate insiders own 0.79% of the company's stock.

Analyst Upgrades and Downgrades

STX has been the topic of a number of research reports. Weiss Ratings restated a "buy (b)" rating on shares of Seagate Technology in a report on Friday, March 27th. Argus upped their price target on shares of Seagate Technology from $450.00 to $750.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Wells Fargo & Company upped their price target on shares of Seagate Technology from $450.00 to $700.00 and gave the company an "equal weight" rating in a report on Wednesday, April 29th. Susquehanna upped their price target on shares of Seagate Technology from $485.00 to $615.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Finally, Barclays upped their price target on shares of Seagate Technology from $625.00 to $750.00 and gave the company an "overweight" rating in a report on Wednesday, April 29th. One investment 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 company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $733.71.

Seagate Technology Price Performance

Seagate Technology stock opened at $812.73 on Monday. The stock has a market cap of $182.24 billion, a price-to-earnings ratio of 77.11 and a beta of 1.98. 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 1 year low of $108.28 and a 1 year high of $841.31. The firm has a 50-day moving average of $565.92 and a two-hundred day moving average of $412.49.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.59. The company had revenue of $3.11 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 44.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, research analysts forecast that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology's payout ratio is 28.08%.

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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