iA Global Asset Management Inc. Has $28.18 Million Stock Position in Seagate Technology Holdings PLC $STX

Key Points

• iA Global Asset Management increased its Seagate Technology stake by 40.4% in Q1, ending with 71,918 shares valued at about $28.18 million.
• Wall Street sentiment remains upbeat, with multiple analysts raising price targets to as high as $1,150 and the stock carrying a consensus rating of Moderate Buy.
• Seagate reported strong quarterly results, beating EPS and revenue estimates, while also announcing a $0.74 per share quarterly dividend payable July 7.

iA Global Asset Management Inc. grew its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 40.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,918 shares of the data storage provider's stock after purchasing an additional 20,677 shares during the quarter. iA Global Asset Management Inc.'s holdings in Seagate Technology were worth $28,175,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Harbor Investment Advisory LLC increased its position in Seagate Technology by 237.7% during the first quarter. Harbor Investment Advisory LLC now owns 1,101 shares of the data storage provider's stock worth $431,000 after buying an additional 775 shares during the last quarter. Perkins Capital Management Inc. acquired a new stake in shares of Seagate Technology in the first quarter worth about $215,000. Premier Path Wealth Partners LLC lifted its position in shares of Seagate Technology by 44.9% in the first quarter. Premier Path Wealth Partners LLC now owns 1,553 shares of the data storage provider's stock worth $608,000 after buying an additional 481 shares during the last quarter. McMillan Office Inc. bought a new stake in shares of Seagate Technology during the 1st quarter worth about $39,000. Finally, EWA LLC increased its holdings in shares of Seagate Technology by 2.7% during the 1st quarter. EWA LLC now owns 1,407 shares of the data storage provider's stock valued at $551,000 after acquiring an additional 37 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wall Street Zen raised Seagate Technology from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Rosenblatt Securities upped their target price on Seagate Technology from $500.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Evercore increased their price target on Seagate Technology from $750.00 to $1,000.00 and gave the company an "outperform" rating in a report on Tuesday, May 12th. Barclays boosted their price objective on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 27th. Finally, Citigroup upped their price objective on shares of Seagate Technology from $740.00 to $1,150.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $874.52.

Seagate Technology Stock Down 0.4%

Shares of STX stock opened at $965.00 on Wednesday. Seagate Technology Holdings PLC has a 12 month low of $138.30 and a 12 month high of $1,145.00. The firm has a market cap of $216.38 billion, a PE ratio of 91.56 and a beta of 2.04. The stock has a 50 day moving average of $835.80 and a 200-day moving average of $540.40. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced 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 net margin of 21.60% and a return on equity of 1,005.65%. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter last year, the company posted $1.90 earnings per share. Seagate Technology's quarterly revenue 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 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be issued 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 payout ratio is presently 28.08%.

Seagate Technology News Roundup

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 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 transaction of $17,410,659.36. Following the sale, the chief financial officer directly owned 42,847 shares of the company's stock, valued at $33,173,004.34. This trade represents a 34.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 value of $6,540,691.84. Following the transaction, the executive vice president owned 3,691 shares in the company, valued at $3,016,580.48. This 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 a total of 121,069 shares of company stock worth $98,747,112 over the last ninety days. Corporate insiders own 0.79% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.