Seagate Technology Holdings PLC $STX Shares Sold by Franklin Resources Inc.

Key Points

• Franklin Resources cut its Seagate Technology stake by 50.1% in the fourth quarter, selling about 4.0 million shares and leaving it with 4.0 million shares valued at roughly $1.11 billion.
• Seagate’s latest earnings were strong, with EPS of $4.10 versus $3.51 expected and revenue of $3.11 billion topping estimates; the company also raised guidance for Q4 2026.
• Investor sentiment remains upbeat as analysts highlight AI storage demand and data-center growth, driving multiple price-target increases, though insiders have also been selling shares recently.

Franklin Resources Inc. lessened its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 50.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,026,126 shares of the data storage provider's stock after selling 4,041,090 shares during the period. Franklin Resources Inc. owned 1.85% of Seagate Technology worth $1,108,755,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of STX. Integrated Wealth Concepts LLC raised its position in shares of Seagate Technology by 168.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider's stock worth $610,000 after purchasing an additional 4,499 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Seagate Technology during the 2nd quarter worth about $262,000. Cerity Partners LLC raised its position in shares of Seagate Technology by 25.8% during the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider's stock worth $5,294,000 after purchasing an additional 7,517 shares during the last quarter. Sei Investments Co. raised its position in shares of Seagate Technology by 64.8% during the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider's stock worth $1,233,000 after purchasing an additional 3,358 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Seagate Technology by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider's stock valued at $18,458,000 after acquiring an additional 462 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Several recent articles and analyst notes highlighted Seagate as a beneficiary of surging AI storage demand, data-center buildout, and tighter industry supply, which has helped improve the investment case and lift price targets. Zacks Analyst Blog Highlights Micron, Sandisk, Seagate, Dell and Comfort Systems
• Positive Sentiment: Analysts are increasingly framing STX as an AI-storage winner, with one recent report saying fair value estimates were reset higher as investors price in stronger demand for higher-capacity drives and improved industry discipline. How The Seagate (STX) Investment Story Is Shifting With AI Storage Demand And New Targets
• Positive Sentiment: Seagate was also included in a “buy these growth stocks” theme around massive AI infrastructure spending, reinforcing investor optimism tied to the company’s storage exposure. Buy These 5 Growth Stocks in June Amid Massive AI Infrastructure Boost
• Positive Sentiment: Recent coverage also noted that Seagate’s quarterly results beat expectations and the company raised guidance, which continues to support the bullish narrative around earnings momentum. Shankar Arumugavelu Sells 1,000 Shares of Seagate Technology NASDAQ: STX Stock
• Neutral Sentiment: A director sold 1,000 shares at $927.68, a transaction that is not huge in size but can still modestly weigh on sentiment because it comes after a strong run in the stock. Shankar Arumugavelu Sells 1,000 Shares of Seagate Technology NASDAQ: STX Stock
• Neutral Sentiment: Broader memory-chip weakness in peers like Micron and SanDisk suggests some cooling in the sector after a sharp run-up, which could spill over into Seagate even though its fundamentals remain strong. Memory-Chip Stocks Micron, Sandisk Get Their Wings Clipped

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 13,780 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were 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 of the company's stock, valued at $299,318,439.09. This represents a 4.08% decrease in their position. The transaction 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, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $885.33, for a total transaction of $663,997.50. Following the completion of the sale, the director directly owned 4,101 shares of the company's stock, valued at approximately $3,630,738.33. This trade represents a 15.46% 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 90 days, insiders have sold 155,187 shares of company stock worth $108,267,701. 0.79% of the stock is currently owned by company insiders.

Seagate Technology Price Performance

STX stock opened at $847.47 on Monday. The firm has a 50-day moving average of $661.50 and a two-hundred day moving average of $455.59. Seagate Technology Holdings PLC has a 12 month low of $124.63 and a 12 month high of $966.80. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The company has a market cap of $190.03 billion, a price-to-earnings ratio of 80.41 and a beta of 2.04.

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 for the quarter, beating the consensus estimate of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The business had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $2.96 billion. During the same quarter in the prior year, the company posted $1.90 EPS. The business's revenue for the quarter was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, analysts forecast that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on STX. TD Cowen increased their price objective on shares of Seagate Technology from $500.00 to $850.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Bank of America increased their price objective on shares of Seagate Technology from $840.00 to $900.00 and gave the company a "buy" rating in a report on Tuesday, May 26th. Mizuho increased their price objective on shares of Seagate Technology from $565.00 to $700.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Wells Fargo & Company increased their price objective on shares of Seagate Technology from $700.00 to $900.00 and gave the company an "equal weight" rating in a report on Monday, June 1st. Finally, Cantor Fitzgerald increased their price objective on shares of Seagate Technology from $700.00 to $1,000.00 and gave the company an "overweight" rating in a report on Wednesday, April 29th. One equities 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $772.04.

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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