Kovitz Investment Group Partners LLC Trims Stock Position in Seagate Technology Holdings PLC $STX

Key Points

• Kovitz Investment Group Partners sharply reduced its Seagate position by 92.1% in the fourth quarter, selling 141,388 shares and leaving it with 12,049 shares worth about $3.3 million.
• Despite some investor trimming, Seagate continues to attract bullish attention tied to AI-driven data-center demand, with analysts saying storage growth could benefit the company’s HAMR-based Mozaic platform and broader cloud storage needs.
• Wall Street sentiment remains positive: JPMorgan raised its price target to $920 and kept an Overweight rating, while Seagate also reported strong quarterly results, beating earnings and revenue estimates and lifting its full-year outlook.

Kovitz Investment Group Partners LLC cut its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 92.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,049 shares of the data storage provider's stock after selling 141,388 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Seagate Technology were worth $3,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of STX. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Seagate Technology during the 4th quarter valued at $23,882,000. New York State Teachers Retirement System lifted its holdings in shares of Seagate Technology by 5.0% during the 4th quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider's stock worth $51,510,000 after acquiring an additional 8,991 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew 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 acquiring an additional 6,028 shares in the last quarter. Praxis Investment Management Inc. grew its position in Seagate Technology by 56.5% in the fourth quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider's stock worth $1,822,000 after acquiring an additional 2,389 shares in the last quarter. Finally, Keystone Investors PTE Ltd. increased its stake 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 valued at $11,879,000 after acquiring an additional 18,000 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Analysts highlighted Seagate as a momentum pick tied to AI-driven data-center growth, saying demand for large-scale storage solutions could drive upside for STX. Seagate & Another AI Memory Momentum Stock With Big Upside
• Positive Sentiment: JPMorgan reaffirmed an Overweight rating and raised its price target on Seagate to $920 from $775, citing a constructive outlook for pricing and incremental margins. Why JPMorgan Remains Bullish on Seagate Technology Holdings plc (STX)
• Positive Sentiment: More coverage pointed to AI’s data explosion creating a multi-year growth runway for Seagate’s HAMR-based Mozaic platform, reinforcing the case for rising storage demand across cloud and data centers. AI's Data Explosion Creates a Multi-Year Growth Runway for Seagate
• Positive Sentiment: Memory and storage stocks were broadly stronger after Apple flagged rising memory costs, which helped lift sentiment across the group, including STX. MU, WDC, SNDK, STX Stocks Rally Overnight After Apple Flags Memory Cost Surge
• Neutral Sentiment: One report noted that a broader market rotation favored financials over tech, which could have created some headwind for technology shares despite Seagate-specific bullish catalysts. Financials Rose, Tech Fell Before Kevin Warsh Fed Debut
• Neutral Sentiment: There was also insider selling by Seagate executives, but the article argued it was not necessarily a negative signal for the business outlook. Seagate’s C-Suite Just Sold Stock. It’s Not the Signal You Think.

Insiders Place Their Bets

In related news, EVP John Christopher Morris sold 5,626 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the completion of the transaction, the executive vice president owned 11,954 shares in the company, valued at $8,826,474.98. This represents a 32.00% decrease in their ownership of the stock. The sale was disclosed in a legal 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 firm's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $817.28, for a total value of $6,540,691.84. Following the completion of the sale, the executive vice president directly owned 3,691 shares of the company's stock, valued at $3,016,580.48. The trade was a 68.44% decrease in their position. 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. Over the last 90 days, insiders sold 141,069 shares of company stock worth $107,161,712. 0.79% of the stock is currently owned by company insiders.

Seagate Technology Stock Performance

Shares of STX opened at $1,070.23 on Friday. The stock has a market capitalization of $239.98 billion, a P/E ratio of 101.54 and a beta of 2.04. Seagate Technology Holdings PLC has a twelve month low of $130.32 and a twelve month high of $1,145.00. 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 fifty day simple moving average of $769.13 and a two-hundred day simple moving average of $503.22.

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, beating analysts' consensus estimates of $3.51 by $0.59. The firm had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The company's revenue for the quarter was up 44.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, research analysts anticipate that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Wednesday, June 24th. Seagate Technology's payout ratio is currently 28.08%.

Analyst Ratings Changes

STX has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on Seagate Technology from $775.00 to $920.00 and gave the company an "overweight" rating in a research report on Thursday, June 11th. The Goldman Sachs Group upped their price objective on Seagate Technology from $385.00 to $700.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Barclays increased their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the company an "overweight" rating in a research report on Wednesday, May 27th. Sanford C. Bernstein boosted their target price 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. Finally, Bank of America boosted their target price on Seagate Technology from $900.00 to $1,000.00 in a research report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given 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 price target of $831.79.

About Seagate Technology

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.

Want to see what other hedge funds are holding STX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seagate Technology Holdings PLC (NASDAQ:STX - Free Report).

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.