Seagate Technology Holdings PLC $STX Shares Acquired by AlphaCore Capital LLC

Key Points

• AlphaCore Capital LLC increased its Seagate Technology stake by 150.7% in the fourth quarter, ending with 5,532 shares valued at about $1.53 million.
• Seagate has seen broad institutional buying, with hedge funds and asset managers such as Vanguard, State Street, and others adding to positions; overall, 92.87% of the stock is held by institutions and hedge funds.
• The company’s fundamentals remain strong, as Seagate beat earnings and revenue estimates last quarter, raised guidance, and received multiple bullish analyst target increases amid optimism tied to AI-driven storage demand.

AlphaCore Capital LLC lifted its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 150.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,532 shares of the data storage provider's stock after purchasing an additional 3,325 shares during the period. AlphaCore Capital LLC's holdings in Seagate Technology were worth $1,528,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Seagate Technology by 1.6% in the third quarter. Vanguard Group Inc. now owns 28,140,287 shares of the data storage provider's stock valued at $6,642,796,000 after acquiring an additional 442,749 shares in the last quarter. State Street Corp raised its holdings in Seagate Technology by 3.1% in the third quarter. State Street Corp now owns 9,276,278 shares of the data storage provider's stock valued at $2,196,420,000 after acquiring an additional 274,913 shares in the last quarter. WCM Investment Management LLC acquired a new stake in Seagate Technology in the third quarter valued at $1,187,621,000. Arrowstreet Capital Limited Partnership raised its holdings in Seagate Technology by 1,072.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider's stock valued at $696,262,000 after acquiring an additional 2,697,957 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Seagate Technology by 1,510.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider's stock valued at $553,125,000 after acquiring an additional 1,883,769 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Loop Capital raised its price target on Seagate Technology (STX) from $950 to $1,140 and reiterated a buy rating, signaling confidence that AI-driven storage demand and Seagate’s product mix can keep earnings momentum strong.
• Positive Sentiment: Recent market coverage continues to highlight Seagate as a beneficiary of booming AI data center spending, with strong enterprise storage demand and HAMR adoption supporting the company’s growth outlook.
• Neutral Sentiment: Seagate also remains in focus after reporting a strong earnings beat and raising guidance, which reinforces the view that fundamentals are improving even after a sharp run-up in the share price.
• Negative Sentiment: Investor sentiment may be pressured by recent insider selling, as EVP Ban Seng Teh sold shares in two transactions under a pre-arranged 10b5-1 plan, which can still be read cautiously by the market.
• Negative Sentiment: The planned retirement of Lead Independent Director Mike Cannon adds a governance change that could create some uncertainty, even though it does not directly affect operations.

Analyst Ratings Changes

Several analysts have weighed in on STX shares. Zacks Research upgraded shares of Seagate Technology from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 1st. KeyCorp set a $500.00 target price on shares of Seagate Technology in a research note on Wednesday, January 28th. Morgan Stanley boosted their target price on shares of Seagate Technology from $582.00 to $767.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. Cantor Fitzgerald boosted their target price on shares of Seagate Technology from $700.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. Finally, TD Cowen boosted their target price on shares of Seagate Technology from $500.00 to $850.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Seagate Technology presently has an average rating of "Moderate Buy" and a consensus price target of $733.71.

Seagate Technology Price Performance

Seagate Technology stock opened at $795.47 on Monday. The company has a 50-day simple moving average of $526.24 and a 200-day simple moving average of $394.39. The firm has a market capitalization of $178.37 billion, a P/E ratio of 75.47 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. Seagate Technology Holdings PLC has a one year low of $103.73 and a one year high of $841.31.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping the consensus estimate of $3.51 by $0.59. The business had revenue of $3.11 billion during 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 company's quarterly revenue was up 44.1% on a year-over-year basis. During the same quarter in the prior year, the firm 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 expect that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current year.

Seagate Technology Announces Dividend

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

Insider Transactions at Seagate Technology

In related news, CFO Gianluca Romano sold 22,488 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 42,847 shares in the company, valued at $33,173,004.34. This represents a 34.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 dated Thursday, May 14th. The shares were 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 owned 3,691 shares of the company's stock, valued at $3,016,580.48. This represents a 68.44% decrease in their position. 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 have sold a total of 118,283 shares of company stock worth $65,989,618 over the last ninety days. 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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