Mirae Asset Global Investments Co. Ltd. Buys 76,695 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Mirae Asset boosted its Q4 stake in Seagate by 269.7%, buying 76,695 shares to hold 105,131 shares valued at about $28.95 million.
• Analysts are broadly bullish—Seagate has a consensus rating of "Moderate Buy" with an average price target of $494.13, and firms like JPMorgan, Loop Capital and Goldman raised targets to $600, $700 and $385 respectively.
• Seagate beat quarterly estimates (EPS $3.11 vs. $2.77) with revenue up 21.5% to $2.83B and guidance of $3.20–$3.60 for Q3, though insiders sold roughly 112,223 shares in the past three months and own just 0.79% of the stock.

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 269.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,131 shares of the data storage provider's stock after acquiring an additional 76,695 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Seagate Technology were worth $28,952,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Integrated Wealth Concepts LLC lifted its holdings in Seagate Technology by 168.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider's stock worth $610,000 after purchasing an additional 4,499 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Seagate Technology in the 2nd quarter valued at $262,000. Cerity Partners LLC grew its holdings in Seagate Technology by 25.8% in the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider's stock valued at $5,294,000 after buying an additional 7,517 shares in the last quarter. Sei Investments Co. increased its position in Seagate Technology by 64.8% during the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider's stock worth $1,233,000 after buying an additional 3,358 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Seagate Technology by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider's stock worth $18,458,000 after buying an additional 462 shares during the period. Institutional investors own 92.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on STX. JPMorgan Chase & Co. boosted their target price on shares of Seagate Technology from $525.00 to $600.00 and gave the company an "overweight" rating in a research report on Thursday. Jefferies Financial Group reaffirmed a "hold" rating on shares of Seagate Technology in a research report on Wednesday, February 4th. The Goldman Sachs Group boosted their price objective on shares of Seagate Technology from $310.00 to $385.00 and gave the company a "buy" rating in a report on Wednesday, January 28th. Weiss Ratings restated a "buy (b)" rating on shares of Seagate Technology in a research report on Friday, March 27th. Finally, Loop Capital raised their target price on shares of Seagate Technology from $465.00 to $700.00 and gave the stock a "buy" rating in a report on Monday, February 9th. Nineteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Seagate Technology currently has a consensus rating of "Moderate Buy" and an average price target of $494.13.

Seagate Technology Trading Up 3.0%

Shares of STX stock opened at $547.75 on Friday. Seagate Technology Holdings PLC has a fifty-two week low of $72.62 and a fifty-two week high of $553.57. The stock's fifty day moving average price is $422.54 and its two-hundred day moving average price is $333.73. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12. The company has a market cap of $119.45 billion, a PE ratio of 61.96, a P/E/G ratio of 1.15 and a beta of 1.61.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping analysts' consensus estimates of $2.77 by $0.34. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The company had revenue of $2.83 billion during the quarter, compared to analysts' expectations of $2.73 billion. During the same quarter in the previous year, the firm earned $2.03 EPS. Seagate Technology's revenue was up 21.5% on a year-over-year basis. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Equities analysts predict that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Wednesday, March 25th. This represents a $2.96 annualized dividend and a yield of 0.5%. Seagate Technology's payout ratio is presently 33.48%.

Insider Transactions at Seagate Technology

In other news, Director Jay L. Geldmacher sold 925 shares of the firm's stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $448.02, for a total value of $414,418.50. Following the sale, the director directly owned 223 shares in the company, valued at approximately $99,908.46. This trade represents a 80.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ban Seng Teh sold 20,195 shares of Seagate Technology stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $442.29, for a total transaction of $8,932,046.55. Following the sale, the executive vice president directly owned 3,092 shares in the company, valued at $1,367,560.68. This trade represents a 86.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 112,223 shares of company stock valued at $46,711,217. 0.79% of the stock is owned by company 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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