Seagate Technology Holdings PLC $STX Shares Sold by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management trimmed its Seagate Technology stake by 6.9% in the fourth quarter, selling 3,988 shares and leaving it with 53,756 shares worth about $14.8 million.
• Seagate reported a strong fiscal quarter, with EPS of $4.10 and revenue of $3.11 billion, both ahead of expectations; revenue also rose 44.1% year over year.
• The company declared a quarterly dividend of $0.74 per share and saw several analysts raise targets, with MarketBeat noting an average rating of Moderate Buy and a consensus target price of $733.71.

Resona Asset Management Co. Ltd. lessened its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 6.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,756 shares of the data storage provider's stock after selling 3,988 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Seagate Technology were worth $14,804,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Salomon & Ludwin LLC raised its stake in shares of Seagate Technology by 124.4% during 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 during the last quarter. Armstrong Advisory Group Inc. acquired a new position in shares of Seagate Technology during the 4th quarter worth $28,000. Concord Wealth Partners acquired a new position in shares of Seagate Technology during the 4th quarter worth $28,000. Avion Wealth raised its stake in shares of Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider's stock worth $28,000 after buying an additional 79 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Seagate Technology during the 4th quarter worth $37,000. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Trading Up 2.4%

Shares of STX stock opened at $751.07 on Thursday. The firm has a 50-day moving average price of $548.86 and a 200 day moving average price of $404.73. Seagate Technology Holdings PLC has a twelve month low of $103.73 and a twelve month high of $841.31. The company has a market capitalization of $168.41 billion, a price-to-earnings ratio of 71.26 and a beta of 1.98. 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 EPS for the quarter, beating the consensus estimate of $3.51 by $0.59. The company had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm's revenue was up 44.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Research analysts forecast that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders 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 annualized dividend and a yield of 0.4%. Seagate Technology's payout ratio is 28.08%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Zacks Research raised Seagate Technology from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 1st. Robert W. Baird boosted their target price on shares of Seagate Technology from $270.00 to $505.00 and gave the company an "outperform" rating in a research note on Thursday, January 29th. Sanford C. Bernstein boosted their target price on shares of Seagate Technology from $620.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Rosenblatt Securities boosted their target price 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. Finally, Mizuho boosted their target price on shares of Seagate Technology from $565.00 to $700.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $733.71.

More Seagate Technology News

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

• Negative Sentiment: Seagate shares came under pressure after the CEO warned about capacity constraints, sparking worries that demand could outstrip supply and temper near-term momentum. Seagate Leads Memory Stocks Lower Following Capacity Warning
• Negative Sentiment: Broader memory stocks, including Seagate, sold off as investors reacted to the executive warnings and took profits after a strong AI-driven rally. Memory Stocks Tumble After Seagate CEO Raises Eyebrows
• Neutral Sentiment: Some analysts remain constructive, arguing Seagate still has solid growth attributes and could benefit from AI-related storage demand over time. Here is Why Growth Investors Should Buy Seagate (STX) Now
• Neutral Sentiment: Stanley Druckenmiller’s Duquesne Family Office reportedly added Seagate among its AI memory “picks-and-shovels” holdings, which may support the longer-term bullish case for the stock. Billionaire Stanley Druckenmiller Dumped Every Share of Alphabet. He Bought AI Memory Stocks Up 581% to 3,467% Instead
• Neutral Sentiment: Recent commentary framing the pullback as a potential buying opportunity suggests some investors view the selloff as overdone rather than a change in the long-term story. Seagate: The Golden Buying Opportunity Born From Panic

Insider Buying and Selling

In other Seagate Technology news, CFO Gianluca Romano sold 1,902 shares of Seagate Technology stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $770.00, for a total value of $1,464,540.00. Following the completion of the sale, the chief financial officer owned 40,945 shares in the company, valued at $31,527,650. The trade was a 4.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 5,626 shares of Seagate Technology stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $738.37, for a total value of $4,154,069.62. Following the completion of the sale, the executive vice president owned 11,954 shares of the company's stock, valued at $8,826,474.98. This trade represents a 32.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 118,283 shares of company stock worth $65,989,618 over the last ninety days. Insiders own 0.79% of the company's stock.

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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