Lombard Odier Asset Management Switzerland SA Takes Position in Seagate Technology Holdings PLC $STX

Key Points

• Lombard Odier Asset Management Switzerland SA opened a new position in Seagate Technology during the first quarter, buying 28,910 shares worth about $11.3 million.
• Seagate recently reported strong quarterly results, beating earnings and revenue expectations with $4.10 EPS and $3.11 billion in revenue, while also issuing Q4 2026 guidance of 4.80–5.20 EPS.
• The stock was reported down 6.8% amid broader semiconductor weakness and concerns about shifting AI spending, even as analysts remain largely bullish and several raised price targets.

Lombard Odier Asset Management Switzerland SA purchased a new position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,910 shares of the data storage provider's stock, valued at approximately $11,326,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA boosted its stake in shares of Seagate Technology by 1,510.1% during 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 purchasing an additional 1,883,769 shares during the period. Norges Bank purchased a new position in Seagate Technology in the 4th quarter worth about $498,363,000. Soroban Capital Partners LP increased its stake in Seagate Technology by 1,468.1% in the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider's stock worth $204,602,000 after buying an additional 1,327,197 shares during the period. Deutsche Bank AG lifted its holdings in Seagate Technology by 102.0% during the 4th quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider's stock valued at $440,614,000 after buying an additional 807,962 shares in the last quarter. Finally, National Pension Service boosted its position in Seagate Technology by 298.7% in the 4th quarter. National Pension Service now owns 997,223 shares of the data storage provider's stock valued at $274,625,000 after buying an additional 747,102 shares during the period. 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: Several previews say Seagate remains well positioned to beat fiscal Q4 expectations, citing AI-driven storage demand, rising HAMR adoption, and improving margins that could support another strong earnings report. Article title: STX Likely to Beat Q4 Earnings: Is it a Portfolio Must-Have Now?
• Positive Sentiment: Another earnings preview argues Seagate’s AI tailwinds are intact, with higher-density storage demand and operating leverage supporting profitability, though valuation has become less compelling. Article title: Seagate Earnings Preview: AI Tailwinds Remain, But Fading Sentiment Caps The Premium
• Positive Sentiment: Commentary from the last two days says Seagate could rebound after being off from recent highs if earnings confirm strong demand for high-capacity storage. Article title: Seagate Stock Is Off 20% From Its High. Why July 28 Earnings Could Trigger a Rebound.
• Neutral Sentiment: Short-interest data showed no meaningful change in borrowed shares, so it does not appear to be a major driver of trading today.
• Neutral Sentiment: One market note highlighted rising losses across mega-cap AI names like Tesla, Alphabet, Meta, Amazon, and Microsoft, reinforcing the broader risk-off tone in AI-related stocks. Article title: Why Tesla, Google, and other Mag 7 stocks are losing billions in valuation
• Negative Sentiment: A trading-focused report says Seagate is falling on broad semiconductor weakness and concerns that AI spending may be shifting, which is likely weighing on the shares despite upbeat earnings expectations. Article title: Why Is Seagate Stock Falling on Friday?

Seagate Technology Trading Down 6.8%

NASDAQ STX opened at $851.69 on Friday. Seagate Technology Holdings PLC has a one year low of $138.30 and a one year high of $1,145.00. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. The company has a market capitalization of $190.97 billion, a price-to-earnings ratio of 80.81 and a beta of 2.04. The company's 50-day simple moving average is $893.15 and its two-hundred day simple moving average is $610.20.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.59. The firm had revenue of $3.11 billion during 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 was up 44.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Equities analysts forecast that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Ban Seng Teh sold 989 shares of the company's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $870,507.91. Following the completion of the sale, the executive vice president directly owned 4,290 shares in the company, valued at $3,776,015.10. This represents a 18.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 1,364 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $1,200,579.16. Following the sale, the executive vice president directly owned 12,088 shares in the company, valued at approximately $10,639,736.72. The trade was a 10.14% 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. Insiders sold a total of 151,069 shares of company stock worth $126,191,753 over the last quarter. Insiders own 0.79% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on STX shares. Barclays upped their target price 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. Evercore boosted 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. UBS Group increased their price objective on Seagate Technology from $515.00 to $545.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Morgan Stanley raised their price objective on Seagate Technology from $767.00 to $1,035.00 and gave the stock an "overweight" rating in a report on Monday, June 15th. Finally, BNP Paribas Exane lifted their target price on Seagate Technology from $530.00 to $860.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Twenty-two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Seagate Technology has an average rating of "Moderate Buy" and an average price target of $898.52.

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.

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.