GLOBALT Investments LLC GA Buys 8,700 Shares of Seagate Technology Holdings PLC $STX

Key Points

• GLOBALT Investments LLC GA boosted its Seagate Technology stake by 820.8% in the fourth quarter, buying 8,700 additional shares and bringing its total holding to 9,760 shares valued at about $2.69 million.
• Seagate is seeing broadly positive Wall Street sentiment, with several analysts raising price targets and the consensus rating sitting at Moderate Buy with a target price of $733.71.
• The company reported a strong quarter, beating earnings and revenue estimates, while also announcing a quarterly dividend of $0.74 per share to be paid on July 7.

GLOBALT Investments LLC GA increased its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 820.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,760 shares of the data storage provider's stock after buying an additional 8,700 shares during the period. GLOBALT Investments LLC GA's holdings in Seagate Technology were worth $2,688,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of STX. Integrated Wealth Concepts LLC raised its stake in Seagate Technology by 168.0% in the first quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider's stock worth $610,000 after buying an additional 4,499 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Seagate Technology in the second quarter worth about $262,000. Cerity Partners LLC grew its holdings in Seagate Technology by 25.8% in the second quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider's stock worth $5,294,000 after purchasing an additional 7,517 shares during the period. Sei Investments Co. grew its holdings in Seagate Technology by 64.8% in the second quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider's stock worth $1,233,000 after purchasing an additional 3,358 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Seagate Technology by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider's stock worth $18,458,000 after purchasing an additional 462 shares during the period. 92.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

STX has been the topic of a number of recent research reports. UBS Group upped their price objective on shares of Seagate Technology from $515.00 to $545.00 and gave the stock 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 stock an "outperform" rating in a report on Wednesday, April 29th. Citigroup upped their price objective on shares of Seagate Technology from $595.00 to $740.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Mizuho upped their price objective on shares of Seagate Technology from $565.00 to $700.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Finally, Wall Street Zen upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $733.71.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Loop Capital raised its price target on Seagate Technology (STX) from $950 to $1,140 and reiterated a buy rating, signaling confidence that AI-driven storage demand and Seagate’s product mix can keep earnings momentum strong.
• Positive Sentiment: Recent market coverage continues to highlight Seagate as a beneficiary of booming AI data center spending, with strong enterprise storage demand and HAMR adoption supporting the company’s growth outlook.
• Neutral Sentiment: Seagate also remains in focus after reporting a strong earnings beat and raising guidance, which reinforces the view that fundamentals are improving even after a sharp run-up in the share price.
• Negative Sentiment: Investor sentiment may be pressured by recent insider selling, as EVP Ban Seng Teh sold shares in two transactions under a pre-arranged 10b5-1 plan, which can still be read cautiously by the market.
• Negative Sentiment: The planned retirement of Lead Independent Director Mike Cannon adds a governance change that could create some uncertainty, even though it does not directly affect operations.

Insider Transactions at Seagate Technology

In other news, CEO William D. Mosley sold 24,584 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $406.77, for a total value of $10,000,033.68. Following the transaction, the chief executive officer owned 375,591 shares in the company, valued at approximately $152,779,151.07. This represents a 6.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ban Seng Teh sold 8,003 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the completion of the transaction, the executive vice president owned 3,691 shares in the company, valued at approximately $3,016,580.48. This represents a 68.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 118,283 shares of company stock valued at $65,989,618. 0.79% of the stock is currently owned by insiders.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $795.47 on Monday. The firm's 50 day moving average price is $526.24 and its 200-day moving average price is $394.39. The company has a market cap of $178.37 billion, a PE ratio of 75.47 and a beta of 1.98. Seagate Technology Holdings PLC has a 52-week low of $103.73 and a 52-week high of $841.31. 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 earnings results 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. The firm 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 business's revenue was up 44.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities research analysts expect that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company 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. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, June 24th. Seagate Technology's dividend payout ratio is currently 28.08%.

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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