Profund Advisors LLC Raises Stock Holdings in Seagate Technology Holdings PLC $STX

Key Points

• Profund Advisors LLC increased its Seagate Technology stake by 458.6% in the fourth quarter, bringing its holdings to 20,282 shares worth about $5.6 million.
• Seagate continues to draw strong institutional interest, with hedge funds and other investors owning 92.87% of the stock, even as several funds made large additions to their positions.
• The company posted a strong quarter, beating earnings and revenue estimates with EPS of $4.10 on $3.11 billion in revenue, while analysts largely remain bullish with a consensus rating of Moderate Buy and an average price target of $733.71.

Profund Advisors LLC raised its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 458.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,282 shares of the data storage provider's stock after acquiring an additional 16,651 shares during the period. Profund Advisors LLC's holdings in Seagate Technology were worth $5,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of STX. WCM Investment Management LLC purchased a new stake in shares of Seagate Technology during the 3rd quarter worth approximately $1,187,621,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Seagate Technology by 1,072.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider's stock worth $696,262,000 after acquiring an additional 2,697,957 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Seagate Technology by 1,510.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider's stock worth $553,125,000 after acquiring an additional 1,883,769 shares in the last quarter. Soroban Capital Partners LP raised its holdings in shares of Seagate Technology by 1,468.1% during 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 acquiring an additional 1,327,197 shares in the last quarter. Finally, Trivest Advisors Ltd purchased a new stake in shares of Seagate Technology during the 3rd quarter worth approximately $170,435,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology News Roundup

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

• Positive Sentiment: Evercore ISI reportedly raised its price target on Seagate, signaling at least one analyst still sees upside despite the recent volatility.
• Positive Sentiment: Earlier commentary highlighted Seagate as a beneficiary of the AI storage boom, with strong demand for mass-capacity drives and progress on Mozaic HAMR technology supporting revenue and margin growth. Article Title
• Neutral Sentiment: Seagate presented at the J.P. Morgan Global Technology, Media and Communications Conference, keeping investors focused on management’s outlook and manufacturing plans. Article Title
• Negative Sentiment: CEO comments that new factory expansion would take too long sparked fears Seagate may not be able to keep pace with AI-related demand, weighing on the stock and pressuring peers such as Micron, SanDisk, and Western Digital. Article Title
• Negative Sentiment: Multiple reports said STX slid about 7% to 7.5% as investors sold the stock on concerns that capacity constraints could limit Seagate’s ability to monetize AI demand right away. Article Title

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Seagate Technology in a report on Friday, March 27th. Morgan Stanley upped their price objective on Seagate Technology from $582.00 to $767.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Mizuho boosted their target price on Seagate Technology from $565.00 to $700.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. KeyCorp set a $500.00 target price on Seagate Technology in a research report on Wednesday, January 28th. Finally, Rosenblatt Securities boosted their target price on Seagate Technology from $500.00 to $1,000.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. One research 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. According to MarketBeat.com, Seagate Technology presently has an average rating of "Moderate Buy" and a consensus price target of $733.71.

Seagate Technology Stock Performance

NASDAQ STX opened at $740.84 on Tuesday. The company has a market cap of $166.12 billion, a P/E ratio of 70.29 and a beta of 1.98. 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 business's 50 day moving average price is $533.71 and its 200-day moving average price is $398.04. Seagate Technology Holdings PLC has a fifty-two week low of $103.73 and a fifty-two week high of $841.31.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its earnings results 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. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.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 posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Sell-side analysts predict that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current year.

Seagate Technology Dividend Announcement

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

Insider Buying and Selling

In other Seagate Technology news, EVP Kian Fatt Chong sold 5,846 shares of the company's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $416.48, for a total value of $2,434,742.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ban Seng Teh sold 8,003 shares of the company's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $817.28, for a total value of $6,540,691.84. Following the completion of the transaction, the executive vice president directly owned 3,691 shares in the company, valued at $3,016,580.48. This trade represents 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. Insiders have sold a total of 118,283 shares of company stock worth $65,989,618 over the last ninety days. Corporate insiders own 0.79% of the company's stock.

Seagate Technology 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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