Kornitzer Capital Management Inc. KS Has $599,000 Position in Seagate Technology Holdings PLC $STX

Key Points

• Kornitzer Capital Management cut its Seagate stake by 41.2% in Q4, selling 1,525 shares and finishing the quarter with 2,175 shares valued at about $599,000.
• Company insiders have been active sellers recently — insiders sold 70,430 shares (~$28.5M) in the last three months, including EVP Kian Fatt Chong (5,846 shares) and CEO William Mosley (24,584 shares), with insiders now owning 0.79% of the stock.
• Seagate's strong Q3 beat and AI-driven guidance have spurred bullish sentiment and large analyst price-target upgrades (several firms raising targets up to $1,000), backed by roughly 92.9% institutional ownership and a 12‑month high near $728.

Kornitzer Capital Management Inc. KS reduced its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 41.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,175 shares of the data storage provider's stock after selling 1,525 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Seagate Technology were worth $599,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in STX. WCM Investment Management LLC acquired a new stake in shares of Seagate Technology during the third quarter worth approximately $1,187,621,000. Arrowstreet Capital Limited Partnership lifted its stake in Seagate Technology by 1,072.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider's stock valued at $696,262,000 after acquiring an additional 2,697,957 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Seagate Technology by 1,510.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider's stock valued at $553,125,000 after acquiring an additional 1,883,769 shares during the last quarter. Soroban Capital Partners LP lifted its stake in Seagate Technology by 1,468.1% in the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider's stock valued at $204,602,000 after acquiring an additional 1,327,197 shares during the last quarter. Finally, Trivest Advisors Ltd acquired a new stake in Seagate Technology in the third quarter valued at approximately $170,435,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Kian Fatt Chong sold 5,846 shares of Seagate Technology stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $416.48, for a total value of $2,434,742.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William D. Mosley sold 24,584 shares of Seagate Technology stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $406.77, for a total transaction of $10,000,033.68. Following the completion of the transaction, the chief executive officer directly owned 375,591 shares in the company, valued at approximately $152,779,151.07. This represents a 6.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 70,430 shares of company stock worth $28,544,576. Insiders own 0.79% of the company's stock.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Q3 earnings beat and AI-driven guidance—Seagate reported a big EPS/revenue beat and raised forward outlook, which investors interpret as confirmation that AI data-center spending is lifting demand for high-performance HDD and enterprise storage. Seagate stock surges after Q3 earnings — why the rally may continue
• Positive Sentiment: Large price-target upgrades—Sanford C. Bernstein lifted its PT to $1,000 (outperform) and Argus bumped its PT to $750 (buy), signaling strong sell‑side conviction that STX will benefit from the AI capex cycle. Bernstein adjusts Seagate price target to $1,000 Argus raises Seagate PT to $750
• Positive Sentiment: Industry confirmation of AI storage demand—Peers (Sandisk, Western Digital) and multiple analyst notes say Big Tech will spend heavily on AI infrastructure through 2026, boosting demand for storage components. That macro tailwind is central to the bullish thesis for STX. Sandisk joins Western Digital, Seagate in signaling strong AI storage demand
• Positive Sentiment: High-profile endorsements and coverage—Jim Cramer and multiple analyst blogs are spotlighting Seagate as a direct beneficiary of constrained supply vs. booming demand for AI storage, attracting retail and institutional attention. Jim Cramer Says “Seagate’s Been a Horse for Ages Now”
• Neutral Sentiment: Company product/service news—Seagate refreshed storage product lines aimed at high-resolution media and AI workflows, reinforcing the growth story but not an immediate earnings surprise. Seagate launches refreshed storage lineup
• Neutral Sentiment: Sector volatility—After Seagate-led rallies, peers have shown volatile post-earnings trading (e.g., Sandisk/WDC slipped despite strong forecasts), highlighting event-driven swings even as structural demand remains. Red-Hot AI Stock Western Digital Slides Late Despite Earnings Beat
• Neutral Sentiment: Media/attention items—Stories on “AI tokens” and pieces asking whether it’s too late to buy reflect heightened retail interest and sentiment momentum, which can amplify moves but add noise. Seagate stock has everyone talking about AI tokens Is It Too Late To Consider Seagate After Its Recent AI Storage-Fueled Surge?
• Negative Sentiment: Valuation and cycle risk—Analyst commentaries warn Seagate may be trading at peak earnings multiples tied to a hyperscaler capex cycle that could slow after FY26/FY27; that raises downside risk if AI capex moderates. Seagate: The Biggest Risk Is Buying At The Top Of The Industry Capex Cycle

Analyst Ratings Changes

STX has been the subject of a number of analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Seagate Technology in a research note on Friday, March 27th. Mizuho lifted their target price on shares of Seagate Technology from $565.00 to $700.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Citigroup lifted their target price on shares of Seagate Technology from $595.00 to $740.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Morgan Stanley lifted their target price on shares of Seagate Technology from $582.00 to $767.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. Finally, Cantor Fitzgerald lifted their target price on shares of Seagate Technology from $700.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. Twenty equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $709.13.

Seagate Technology Stock Performance

NASDAQ:STX opened at $726.93 on Monday. Seagate Technology Holdings PLC has a 12 month low of $91.29 and a 12 month high of $728.00. The firm has a market cap of $163.00 billion, a price-to-earnings ratio of 68.97 and a beta of 1.98. 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 company's 50 day moving average is $454.23 and its 200-day moving average is $358.04.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter last year, the firm posted $1.90 earnings per share. The company's quarterly revenue 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. Equities analysts anticipate that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.

Seagate Technology Announces Dividend

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 given a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. Seagate Technology's dividend payout ratio (DPR) 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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