Hsbc Holdings PLC Increases Stock Holdings in Seagate Technology Holdings PLC $STX

Key Points

• HSBC Holdings PLC nearly doubled its Seagate position in the fourth quarter, increasing its stake by 97.9% to 172,331 shares valued at about $47.6 million.
• Seagate reported strong quarterly results, with EPS of $4.10 beating estimates and revenue rising 44.1% year over year to $3.11 billion. The company also guided Q4 2026 EPS to $4.80-$5.20.
• Wall Street remains broadly positive on the stock, with a consensus Moderate Buy rating and an average target price of $831.79, though some analysts have recently become more cautious as shares have rallied sharply.

Hsbc Holdings PLC increased its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 97.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,331 shares of the data storage provider's stock after buying an additional 85,246 shares during the quarter. Hsbc Holdings PLC owned 0.08% of Seagate Technology worth $47,579,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. State Street Corp grew its stake in shares of Seagate Technology by 1.0% in the 4th quarter. State Street Corp now owns 9,370,805 shares of the data storage provider's stock worth $2,587,535,000 after acquiring an additional 94,527 shares in the last quarter. Morgan Stanley lifted its position in shares of Seagate Technology by 5.1% during the fourth quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider's stock valued at $1,464,391,000 after purchasing an additional 258,151 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Seagate Technology by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider's stock worth $1,343,683,000 after purchasing an additional 234,436 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Seagate Technology by 8.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider's stock worth $879,338,000 after purchasing an additional 243,551 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in 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 purchasing an additional 1,883,769 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wall Street Zen raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. TD Cowen upped their target price on Seagate Technology from $500.00 to $850.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Fox Advisors downgraded Seagate Technology from an "overweight" rating to an "equal weight" rating in a research report on Monday. Argus lifted their price target on Seagate Technology from $450.00 to $750.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Finally, Sanford C. Bernstein boosted their price objective on Seagate Technology from $620.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $831.79.

Seagate Technology Trading Down 5.1%

Shares of STX stock opened at $1,038.59 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The firm has a market cap of $232.88 billion, a P/E ratio of 98.54 and a beta of 2.04. The company has a 50 day moving average of $791.71 and a 200-day moving average of $516.18. Seagate Technology Holdings PLC has a 12-month low of $133.85 and a 12-month high of $1,145.00.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating 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 business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the business earned $1.90 earnings per share. Seagate Technology'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. Sell-side analysts anticipate that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.

Seagate Technology Dividend Announcement

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 paid a dividend of $0.74 per share. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. Seagate Technology's dividend payout ratio is presently 28.08%.

Key Seagate Technology News

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

• Positive Sentiment: Mizuho raised its price target on Seagate to $1,090 from $875 and kept an Outperform rating, citing higher estimates after the company’s AI-related results, which supports the bull case for continued upside. Mizuho Lifts PT on Seagate Technology Holdings (STX)
• Positive Sentiment: Multiple articles highlighted Seagate as a top AI memory/storage stock, with investors focusing on strong demand for nearline hard drives and data storage needed for AI workloads, a theme that has helped drive the stock’s sharp rally. Mizuho Lifts PT on Seagate Technology Holdings (STX)
• Neutral Sentiment: Commentary from 247WallSt noted that Seagate’s valuation now looks stretched after its parabolic run, and suggested the risk/reward is less attractive without a pullback, which may temper enthusiasm even though the longer-term AI story remains intact. Buy, Hold, or Sell: Wall Street Fears Tech Compression, but This AI Storage Monster Has a Hidden Weapon
• Neutral Sentiment: Market chatter also focused on how much further STX can rally after rising roughly 290% year to date, indicating strong momentum but also raising expectations that could limit near-term gains. Up 290% YTD, How High Can Seagate Rally?
• Negative Sentiment: Fox Advisors downgraded Seagate from Overweight to Equal Weight, suggesting some analysts think much of the good news is already reflected in the stock price. Finviz downgrade mention
• Negative Sentiment: A broader selloff in memory-related stocks briefly pressured sentiment across the group, as investors reacted to macro and geopolitical risk; that kind of weakness can spill over into Seagate even when the company-specific outlook remains strong. Memory Stock Rout Hits Popular DRAM ETF

Insider Transactions at Seagate Technology

In related news, CFO Gianluca Romano sold 22,488 shares of Seagate Technology 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 owned 42,847 shares of the company's stock, valued at approximately $33,173,004.34. This trade represents a 34.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were 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 in the company, valued at $255,131,322.39. This represents a 8.12% 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 have sold a total of 141,069 shares of company stock worth $107,161,712 over the last 90 days. 0.79% of the stock is owned by insiders.

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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