Seagate Technology Holdings PLC $STX Shares Sold by Pinpoint Asset Management Singapore Pte. Ltd.

Key Points

• Pinpoint Asset Management reduced its Seagate Technology stake by 8.5% in the fourth quarter, but still held 32,603 shares valued at about $8.98 million.
• Analysts remain broadly bullish on STX, with multiple firms raising price targets and the consensus rating sitting at Moderate Buy with a $820.63 target.
• Seagate reported strong quarterly results, beating EPS and revenue estimates, and also announced a quarterly dividend of $0.74 per share to be paid July 7.

Pinpoint Asset Management Singapore Pte. Ltd. trimmed its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,603 shares of the data storage provider's stock after selling 3,011 shares during the period. Seagate Technology comprises about 1.9% of Pinpoint Asset Management Singapore Pte. Ltd.'s portfolio, making the stock its 12th largest holding. Pinpoint Asset Management Singapore Pte. Ltd.'s holdings in Seagate Technology were worth $8,979,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Salomon & Ludwin LLC lifted its stake 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 purchasing an additional 51 shares in the last quarter. Rakuten Securities Inc. lifted its stake in Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock worth $27,000 after purchasing an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. purchased a new position in Seagate Technology in the 4th quarter worth approximately $28,000. Avion Wealth lifted its stake in Seagate Technology by 343.5% in the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider's stock worth $28,000 after purchasing an additional 79 shares in the last quarter. Finally, Concord Wealth Partners purchased a new position in Seagate Technology in the 4th quarter worth approximately $28,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Evercore raised their target price on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 12th. Zacks Research raised shares of Seagate Technology from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 1st. Sanford C. Bernstein raised their target price on shares of Seagate Technology from $620.00 to $1,000.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. BNP Paribas Exane raised their target price on shares of Seagate Technology from $530.00 to $860.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Finally, Morgan Stanley raised their target price on shares of Seagate Technology from $582.00 to $767.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $820.63.

Seagate Technology Stock Up 7.3%

STX stock opened at $931.04 on Friday. The firm has a market cap of $208.77 billion, a PE ratio of 88.33 and a beta of 2.04. 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 firm's 50 day moving average price is $709.54 and its 200-day moving average price is $475.81. Seagate Technology Holdings PLC has a one year low of $124.63 and a one year high of $966.80.

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, beating the consensus estimate of $3.51 by $0.59. The firm 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 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 earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities research analysts anticipate that Seagate Technology Holdings PLC will post 14.1 EPS for the current 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 given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology's payout ratio is presently 28.08%.

Insider Activity

In other news, Director Shankar Arumugavelu sold 1,000 shares of Seagate Technology stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $927.68, for a total transaction of $927,680.00. Following the sale, the director owned 6,626 shares of the company's stock, valued at approximately $6,146,807.68. The trade was a 13.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Christopher Morris sold 574 shares of Seagate Technology stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $821.66, for a total transaction of $471,632.84. Following the sale, the executive vice president directly owned 12,199 shares in the company, valued at approximately $10,023,430.34. The trade was a 4.49% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 160,629 shares of company stock worth $112,739,671. 0.79% of the stock is owned by company insiders.

Key Seagate Technology News

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

• Positive Sentiment: Seagate announced it will redeem all outstanding 3.50% Exchangeable Senior Notes due 2028, a move investors view as a balance-sheet strengthening step. Seagate Announces Redemption of Exchangeable Notes
• Positive Sentiment: Analysts remained bullish, with JPMorgan raising its price target to $920 and keeping an Overweight rating, while China Renaissance lifted its target to $983, reinforcing momentum in the stock. JPMorgan raises price target on Seagate Technology to 920 from 775, maintains overweight rating
• Positive Sentiment: Reports highlighted surging free cash flow and record AI-related demand, suggesting Seagate is benefiting from cloud and data-center storage expansion. Seagate's Strengthening Free Cash Flow: Can Growth Continue?
• Positive Sentiment: Another update said Seagate has most of its nearline storage capacity allocated through 2027 and raised its long-term annual revenue growth target to at least 20%, pointing to sustained demand from large cloud customers. Seagate Locks In Nearline Demand And Lifts Long Term Growth Outlook
• Neutral Sentiment: Several Seagate executives sold shares this week, including the CFO and CEO, which may weigh on sentiment a bit, but the sales were relatively small versus their remaining holdings. Insider Selling: Seagate Technology NASDAQ: STX EVP Sells 574 Shares of Stock

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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