Seagate Technology Holdings PLC $STX Position Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 14.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,058,303 shares of the data storage provider's stock after selling 183,648 shares during the period. Bank of New York Mellon Corp owned about 0.47% of Seagate Technology worth $414,601,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in STX. Cornerstone Wealth Group LLC grew its stake in Seagate Technology by 0.5% in the first quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider's stock valued at $1,388,000 after purchasing an additional 19 shares in the last quarter. Gateway Investment Advisers LLC lifted its stake in 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 valued at $385,000 after acquiring an additional 25 shares during the last quarter. Trajan Wealth LLC grew its position in 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 acquiring an additional 25 shares in the last quarter. TSG Advice Partners LLC increased its stake in shares of Seagate Technology by 1.9% during the 1st quarter. TSG Advice Partners LLC now owns 1,448 shares of the data storage provider's stock worth $567,000 after purchasing an additional 27 shares during the last quarter. Finally, Fortis Capital Management LLC increased its stake in shares of Seagate Technology by 1.1% during the 4th quarter. Fortis Capital Management LLC now owns 2,557 shares of the data storage provider's stock worth $704,000 after purchasing an additional 27 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Seagate Technology

In other news, EVP Ban Seng Teh sold 8,003 shares of Seagate Technology stock in a transaction that occurred 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 sale, the executive vice president owned 3,691 shares of the company's stock, valued at approximately $3,016,580.48. This trade represents a 68.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 22,488 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total value of $17,410,659.36. Following the sale, the chief financial officer owned 42,847 shares in the company, valued at approximately $33,173,004.34. This represents a 34.42% 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. In the last quarter, insiders sold 151,069 shares of company stock worth $126,191,753. Insiders own 0.79% of the company's stock.

Seagate Technology Trading Up 5.7%

Shares of Seagate Technology stock opened at $787.66 on Friday. Seagate Technology Holdings PLC has a 1 year low of $138.30 and a 1 year high of $1,145.00. The company's fifty day simple moving average is $887.01 and its 200-day simple moving average is $589.45. The company has a market cap of $176.62 billion, a price-to-earnings ratio of 74.73 and a beta of 2.04. 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 posted its quarterly earnings results 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. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The business's quarterly revenue was up 44.1% on a year-over-year basis. During the same period last year, the business posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, sell-side analysts expect that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were 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 was Wednesday, June 24th. Seagate Technology's payout ratio is currently 28.08%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on STX. Rosenblatt Securities lifted their price objective on shares of Seagate Technology from $500.00 to $1,000.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. UBS Group boosted their price target on Seagate Technology from $515.00 to $545.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 29th. Wall Street Zen upgraded Seagate Technology from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Sanford C. Bernstein increased their price objective on Seagate Technology from $620.00 to $1,000.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Finally, Argus raised their price objective on Seagate Technology from $450.00 to $750.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $898.52.

More Seagate Technology News

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

• Positive Sentiment: Analysts and market commentators highlighted Seagate as one of the memory/storage names best positioned to benefit from global AI infrastructure spending, citing rising demand for advanced storage and improving revenue and margin trends. 4 Top-Ranked Memory Stocks to Buy as AI Infrastructure Expands Globally
• Positive Sentiment: Additional bullish coverage said Seagate could be a smaller AI stock with room to run, pointing to strong execution, expanding margins, and earnings growth potential that may continue to attract investors. Everyone's Buying NVIDIA, but 2 Smaller AI Stocks Could Soar Higher
• Positive Sentiment: Seagate also received a favorable mention in an analyst blog round-up and in commentary describing the stock as benefiting from a strong cost advantage and AI-related storage demand. The Zacks Analyst Blog Highlights NVIDIA, AMD, Taiwan Semiconductor Manufacturing and Seagate
• Neutral Sentiment: Market-watch coverage noted Seagate underperformed some peers in recent trading sessions, suggesting investor enthusiasm has not been uniform across the storage group. Seagate Technology Holdings PLC stock underperforms Thursday when compared to competitors
• Neutral Sentiment: Broader tech and chip-stock weakness, including pressure on the semiconductor index, is still weighing on the sector and can limit gains for Seagate despite its company-specific positives. The SOX Index Fell 16% in Less Than a Month
• Negative Sentiment: Tech stocks were under pressure overall, which may have contributed to weakness in Seagate shares even as the company’s long-term fundamentals remain tied to AI-driven storage demand. Sector Update: Tech Stocks Fall Thursday Afternoon

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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