Geode Capital Management LLC Buys 234,436 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Geode Capital Management increased its stake in Seagate Technology by 5% in the fourth quarter, buying 234,436 shares and bringing its total holding to 4.9 million shares worth about $1.34 billion.
• Seagate reported strong quarterly results, with EPS of $4.10 beating estimates and revenue of $3.11 billion topping expectations; revenue jumped 44.1% year over year.
• Analysts remain bullish overall, with several firms raising price targets and the consensus rating sitting at “Moderate Buy,” while Seagate also announced a quarterly dividend of $0.74 per share.

Geode Capital Management LLC boosted its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,896,815 shares of the data storage provider's stock after purchasing an additional 234,436 shares during the quarter. Geode Capital Management LLC owned about 2.25% of Seagate Technology worth $1,343,683,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. National Pension Service lifted its position in Seagate Technology by 28.0% in the third quarter. National Pension Service now owns 250,121 shares of the data storage provider's stock worth $59,044,000 after purchasing an additional 54,722 shares during the period. PFA Pension Forsikringsaktieselskab bought a new position in Seagate Technology in the fourth quarter worth $23,882,000. New York State Teachers Retirement System lifted its position in Seagate Technology by 5.0% in the fourth quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider's stock worth $51,510,000 after purchasing an additional 8,991 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in Seagate Technology by 1.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider's stock worth $142,874,000 after purchasing an additional 6,028 shares during the period. Finally, Keystone Investors PTE Ltd. lifted its position in Seagate Technology by 55.7% in the third quarter. Keystone Investors PTE Ltd. now owns 50,321 shares of the data storage provider's stock worth $11,879,000 after purchasing an additional 18,000 shares during the period. 92.87% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 30,000 shares of the firm's stock in a transaction on 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 directly owned 339,591 shares in the company, valued at approximately $255,131,322.39. This trade represents a 8.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP James Ci Lee sold 697 shares of the firm's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $741.17, for a total value of $516,595.49. Following the completion of the sale, the executive vice president owned 324 shares of the company's stock, valued at approximately $240,139.08. This trade represents a 68.27% 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 a total of 142,437 shares of company stock valued at $86,093,575 in the last 90 days. 0.79% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on STX. Morgan Stanley raised their target price on Seagate Technology from $582.00 to $767.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. Wall Street Zen raised Seagate Technology from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. The Goldman Sachs Group raised their target price on Seagate Technology from $385.00 to $700.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Barclays increased their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Wedbush increased their price objective on Seagate Technology from $700.00 to $825.00 and gave the stock an "outperform" rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $746.63.

Seagate Technology Stock Performance

Seagate Technology stock opened at $880.72 on Friday. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The stock has a fifty day moving average price of $602.56 and a two-hundred day moving average price of $428.87. Seagate Technology Holdings PLC has a 52-week low of $116.28 and a 52-week high of $905.39. The firm has a market capitalization of $197.48 billion, a P/E ratio of 83.56 and a beta of 1.98.

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, topping the consensus estimate of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same period in the prior year, the company posted $1.90 earnings per share. The business's revenue for the quarter was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, analysts anticipate that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology's dividend payout ratio (DPR) is 28.08%.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Barclays raised its price target on Seagate Technology Holdings PLC (STX) to $1,000 from $750 and kept an overweight rating, signaling further upside as demand remains strong. Seagate Tech (STX) Receives a Buy from Barclays
• Positive Sentiment: Multiple reports highlighted Seagate’s AI storage opportunity, with commentary pointing to accelerating hyperscale demand, HAMR adoption, and strong margin performance as key growth drivers. Seagate: Micron And SK Hynix Gave The Greenlight To Buy More
• Positive Sentiment: Seagate closed a privately negotiated exchange of $185.9 million of exchangeable notes, a balance-sheet and capital-structure move that may be viewed favorably by investors. Seagate Announces Closing of Exchanges with Holders of $185.908 Million Principal Amount of Exchangeable Notes
• Neutral Sentiment: Several articles revisited why STX has been up sharply since its last earnings report, reflecting continued investor focus on the company’s strong post-earnings momentum rather than a new catalyst. Why Is Seagate (STX) Up 35.3% Since Last Earnings Report?
• Neutral Sentiment: Seagate’s recent conference presentation and broader analyst coverage underscore ongoing optimism, but these items are more confirmatory than fresh catalysts for the stock. Seagate Technology Holdings plc Presents at TD Cowen's 54th Annual Technology, Media & Telecom Conference Transcript
• Negative Sentiment: There were no major company-specific negative headlines in the provided articles; the main risk is that the stock’s strong run could leave it vulnerable if AI storage demand or margins cool.

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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