National Pension Service Raises Position in Seagate Technology Holdings PLC $STX

Key Points

• National Pension Service sharply increased its Seagate Technology stake by 298.7% in the fourth quarter, buying 747,102 shares to bring its total holdings to 997,223 shares worth about $274.6 million.
• Analysts remain broadly upbeat on STX: firms including Barclays, Evercore, Cantor Fitzgerald, and Wedbush raised price targets, and the consensus rating is now a Moderate Buy with an average target of $746.63.
• Seagate reported strong quarterly results, with EPS of $4.10 beating estimates and revenue of $3.11 billion topping forecasts, while the company also highlighted AI storage demand and completed a $185.9 million exchangeable note transaction.

National Pension Service raised its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 298.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 997,223 shares of the data storage provider's stock after purchasing an additional 747,102 shares during the quarter. National Pension Service owned 0.46% of Seagate Technology worth $274,625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Gateway Investment Advisers LLC raised its stake in shares of Seagate Technology by 1.8% in the fourth quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider's stock worth $385,000 after purchasing an additional 25 shares during the last quarter. Trajan Wealth LLC raised its stake in shares of Seagate Technology by 1.9% in the fourth quarter. Trajan Wealth LLC now owns 1,325 shares of the data storage provider's stock worth $365,000 after purchasing an additional 25 shares during the last quarter. EWA LLC raised its stake in shares of Seagate Technology by 2.1% in the fourth quarter. EWA LLC now owns 1,370 shares of the data storage provider's stock worth $377,000 after purchasing an additional 28 shares during the last quarter. SVB Wealth LLC grew its holdings in shares of Seagate Technology by 0.9% in the fourth quarter. SVB Wealth LLC now owns 3,347 shares of the data storage provider's stock valued at $922,000 after acquiring an additional 29 shares in the last quarter. Finally, Sovereign Financial Group Inc. grew its holdings in shares of Seagate Technology by 3.2% in the fourth quarter. Sovereign Financial Group Inc. now owns 1,063 shares of the data storage provider's stock valued at $293,000 after acquiring an additional 33 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Barclays raised its price target on Seagate Technology Holdings PLC (STX) to $1,000 from $750 and kept an overweight rating, signaling further upside as demand remains strong. Seagate Tech (STX) Receives a Buy from Barclays
• Positive Sentiment: Multiple reports highlighted Seagate’s AI storage opportunity, with commentary pointing to accelerating hyperscale demand, HAMR adoption, and strong margin performance as key growth drivers. Seagate: Micron And SK Hynix Gave The Greenlight To Buy More
• Positive Sentiment: Seagate closed a privately negotiated exchange of $185.9 million of exchangeable notes, a balance-sheet and capital-structure move that may be viewed favorably by investors. Seagate Announces Closing of Exchanges with Holders of $185.908 Million Principal Amount of Exchangeable Notes
• Neutral Sentiment: Several articles revisited why STX has been up sharply since its last earnings report, reflecting continued investor focus on the company’s strong post-earnings momentum rather than a new catalyst. Why Is Seagate (STX) Up 35.3% Since Last Earnings Report?
• Neutral Sentiment: Seagate’s recent conference presentation and broader analyst coverage underscore ongoing optimism, but these items are more confirmatory than fresh catalysts for the stock. Seagate Technology Holdings plc Presents at TD Cowen's 54th Annual Technology, Media & Telecom Conference Transcript
• Negative Sentiment: There were no major company-specific negative headlines in the provided articles; the main risk is that the stock’s strong run could leave it vulnerable if AI storage demand or margins cool.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 8,003 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the completion of the transaction, the executive vice president directly owned 3,691 shares of the company's stock, valued at approximately $3,016,580.48. This represents a 68.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 5,626 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $738.37, for a total value of $4,154,069.62. Following the transaction, the executive vice president directly owned 11,954 shares of the company's stock, valued at approximately $8,826,474.98. This trade represents a 32.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 142,437 shares of company stock valued at $86,093,575 in the last quarter. Insiders own 0.79% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group upped their target price on Seagate Technology from $515.00 to $545.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Evercore boosted their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 12th. Wedbush boosted their price objective on Seagate Technology from $700.00 to $825.00 and gave the stock an "outperform" rating in a research report on Monday, April 27th. Cantor Fitzgerald boosted their price objective on Seagate Technology from $700.00 to $1,000.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. Finally, Argus boosted their price objective on Seagate Technology from $450.00 to $750.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Seagate Technology currently has an average rating of "Moderate Buy" and a consensus price target of $746.63.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $880.72 on Friday. The stock has a fifty day simple moving average of $602.56 and a two-hundred day simple moving average of $428.87. Seagate Technology Holdings PLC has a 1-year low of $116.28 and a 1-year high of $905.39. The firm has a market cap of $197.48 billion, a price-to-earnings ratio of 83.56 and a beta of 1.98. The company has a current ratio of 1.33, a quick ratio of 0.85 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 for the quarter, beating the consensus estimate of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same period in the prior year, the company earned $1.90 earnings per share. Seagate Technology's 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. Analysts anticipate that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current year.

Seagate Technology Dividend Announcement

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

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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