PNC Financial Services Group Inc. Has $16.87 Million Holdings in Seagate Technology Holdings PLC $STX

Key Points

• PNC Financial Services Group increased its stake in Seagate Technology by 5.3% in the fourth quarter, bringing its holdings to 61,270 shares worth about $16.87 million.
• Seagate reported strong quarterly results, with EPS of $4.10 beating estimates and revenue of $3.11 billion topping forecasts, while revenue rose 44.1% year over year. The company also issued Q4 2026 guidance of $4.80 to $5.20 EPS.
• The company declared a quarterly dividend of $0.74 per share, payable July 7, and analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $733.71.

PNC Financial Services Group Inc. raised its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,270 shares of the data storage provider's stock after buying an additional 3,091 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Seagate Technology were worth $16,873,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Gateway Investment Advisers LLC lifted its holdings in shares of Seagate Technology by 1.8% during the fourth quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider's stock worth $385,000 after buying an additional 25 shares during the last quarter. EWA LLC lifted its holdings in shares of Seagate Technology by 2.1% during the fourth quarter. EWA LLC now owns 1,370 shares of the data storage provider's stock worth $377,000 after buying an additional 28 shares during the last quarter. SVB Wealth LLC lifted its holdings in shares of Seagate Technology by 0.9% during the fourth quarter. SVB Wealth LLC now owns 3,347 shares of the data storage provider's stock worth $922,000 after buying an additional 29 shares during the last quarter. Sovereign Financial Group Inc. lifted its holdings in shares of Seagate Technology by 3.2% during the fourth quarter. Sovereign Financial Group Inc. now owns 1,063 shares of the data storage provider's stock worth $293,000 after buying an additional 33 shares during the last quarter. Finally, Pallas Capital Advisors LLC raised its stake in shares of Seagate Technology by 0.6% in the fourth quarter. Pallas Capital Advisors LLC now owns 5,446 shares of the data storage provider's stock valued at $1,500,000 after purchasing an additional 33 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Performance

Seagate Technology stock opened at $812.73 on Friday. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The stock has a fifty day moving average price of $565.92 and a two-hundred day moving average price of $411.46. Seagate Technology Holdings PLC has a 52-week low of $108.28 and a 52-week high of $841.31. The firm has a market capitalization of $182.24 billion, a P/E ratio of 77.11 and a beta of 1.98.

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, topping 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 firm 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 posted $1.90 earnings per share. The business's revenue for the quarter 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. As a group, analysts anticipate that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date is Wednesday, June 24th. Seagate Technology's dividend payout ratio is currently 28.08%.

Seagate Technology News Roundup

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

• Positive Sentiment: Seagate’s latest margin and revenue trends show strong execution, with record gross margins, tight supply, and pricing support pointing to continued earnings upside. Can Seagate Sustain Its Gross Margin Expansion Momentum?
• Positive Sentiment: AI infrastructure spending remains a tailwind for memory and storage stocks, including STX, after Nvidia’s strong results. Seagate Stock, Western Digital Bounce Back After Nvidia Results
• Positive Sentiment: Seagate’s exchange of $185.9 million in notes could support balance-sheet flexibility and reduce financial risk. Seagate Announces Exchanges with Holders of $185.908 Million Principal Amount of Exchangeable Notes
• Neutral Sentiment: CEO William Mosley sold 30,000 shares under a pre-arranged 10b5-1 plan; routine insider selling does not necessarily signal a fundamental change, but it can still weigh on sentiment. SEC filing
• Neutral Sentiment: Some analysts and commentators are questioning valuation, with Jim Cramer calling Seagate “too pricey,” which could limit further upside unless earnings keep accelerating. Jim Cramer on Seagate: “Too Pricey”
• Negative Sentiment: There is also growing caution that the AI memory/storage boom could slow later in the cycle, raising concerns about future supply, pricing, and demand. Advanced Energy, Vishay Precision, and Bel Fuse Shares Plummet, What You Need To Know

Insider Activity

In other Seagate Technology news, CFO Gianluca Romano sold 22,488 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total transaction of $17,410,659.36. Following the completion of the transaction, the chief financial officer directly owned 42,847 shares in the company, valued at $33,173,004.34. This represents a 34.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 stock was sold at an average price of $738.37, for a total value of $4,154,069.62. Following the transaction, the executive vice president owned 11,954 shares of the company's stock, valued at $8,826,474.98. This 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. Over the last ninety days, insiders sold 148,283 shares of company stock valued at $88,528,318. 0.79% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented 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 research note on Wednesday, April 29th. Weiss Ratings restated a "buy (b)" rating on shares of Seagate Technology in a research note on Friday, March 27th. Robert W. Baird upped their target price on Seagate Technology from $270.00 to $505.00 and gave the company an "outperform" rating in a research note on Thursday, January 29th. Bank of America upped their target price on Seagate Technology from $700.00 to $840.00 and gave the company a "buy" rating in a research note on Monday, April 27th. Finally, Cantor Fitzgerald upped their target price on Seagate Technology from $700.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $733.71.

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.

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