Seagate Technology Holdings PLC $STX Position Boosted by CIBC Asset Management Inc

Key Points

• CIBC Asset Management boosted its Seagate Technology stake by 165.9% in the fourth quarter, ending with 90,130 shares valued at about $24.8 million. Other hedge funds and institutions also added to positions, and institutional ownership now stands at 92.87%.
• Seagate reported strong quarterly results, posting EPS of $4.10 versus the $3.51 estimate and revenue of $3.11 billion versus $2.96 billion expected. The company also raised attention from analysts, with multiple firms increasing price targets and the consensus rating sitting at Moderate Buy.
• The company announced a quarterly dividend of $0.74 per share, payable July 7, and insiders have continued selling shares through pre-arranged plans. CEO William D. Mosley and EVP Ban Seng Teh were among recent sellers, with insiders holding only 0.79% of the stock.

CIBC Asset Management Inc increased its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 165.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,130 shares of the data storage provider's stock after buying an additional 56,233 shares during the quarter. CIBC Asset Management Inc's holdings in Seagate Technology were worth $24,821,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Salomon & Ludwin LLC grew its holdings in Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock worth $27,000 after buying an additional 51 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new stake in Seagate Technology in the fourth quarter worth approximately $28,000. Concord Wealth Partners acquired a new stake in Seagate Technology in the fourth quarter worth approximately $28,000. Avion Wealth lifted its position in Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider's stock worth $28,000 after purchasing an additional 79 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Seagate Technology in the fourth quarter worth approximately $37,000. 92.87% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 13,780 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $924.99, for a total value of $12,746,362.20. Following the completion of the sale, the chief executive officer owned 323,591 shares in the company, valued at $299,318,439.09. This represents a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the 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 sale, the executive vice president owned 3,691 shares of the company's stock, valued at $3,016,580.48. The trade was 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. Over the last three months, insiders have sold 154,187 shares of company stock valued at $107,340,021. 0.79% of the stock is currently owned by company insiders.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $940.69 on Thursday. The stock has a fifty day moving average of $642.80 and a 200-day moving average of $446.76. The company has a market capitalization of $210.93 billion, a PE ratio of 89.25 and a beta of 2.04. Seagate Technology Holdings PLC has a one year low of $123.73 and a one year high of $966.80. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33.

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 (EPS) for the quarter, beating analysts' consensus estimates of $3.51 by $0.59. The company had revenue of $3.11 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities analysts anticipate that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be issued a $0.74 dividend. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology's dividend payout ratio is presently 28.08%.

Analyst Upgrades and Downgrades

STX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Seagate Technology from $525.00 to $775.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. BNP Paribas Exane upped their target price on Seagate Technology from $530.00 to $860.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Weiss Ratings restated a "buy (b)" rating on shares of Seagate Technology in a research report on Friday, March 27th. Morgan Stanley increased their price objective on Seagate Technology from $582.00 to $767.00 and gave the company an "overweight" rating in a research report on Wednesday, April 29th. Finally, Citigroup increased their price objective on Seagate Technology from $740.00 to $1,150.00 and gave the company a "buy" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Seagate Technology presently has an average rating of "Moderate Buy" and a consensus price target of $772.04.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Citigroup raised its price target on Seagate Technology Holdings PLC (STX) to $1,150 and reiterated a Buy rating, which is likely helping fuel the stock’s recent strength. Article Title
• Positive Sentiment: Seagate also reached a $175 million settlement over Huawei-related shareholder claims, which may reduce a lingering legal overhang and improve sentiment. Article Title
• Positive Sentiment: A Forbes piece highlighted Seagate as a data-storage name making new records, reflecting continued momentum in the stock after strong earnings and guidance. Article Title
• Neutral Sentiment: Seagate presented at Bank of America’s 2026 Global Technology Conference, but no major new operational update was included in the transcript. Article Title
• Negative Sentiment: Multiple insiders, including CEO William D. Mosley and directors Yolanda Lee Conyers and Prat Bhatt, sold shares in pre-arranged transactions. These sales were likely routine, but they can still temper enthusiasm at elevated share prices.

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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