USS Investment Management Ltd cut its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 8.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,253 shares of the data storage provider's stock after selling 3,688 shares during the period. USS Investment Management Ltd's holdings in Seagate Technology were worth $11,357,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake 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 worth $6,642,796,000 after purchasing an additional 442,749 shares in the last quarter. State Street Corp grew its stake in Seagate Technology by 1.0% in the fourth quarter. State Street Corp now owns 9,370,805 shares of the data storage provider's stock worth $2,587,535,000 after purchasing an additional 94,527 shares in the last quarter. Morgan Stanley grew its stake in Seagate Technology by 5.1% in the fourth quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider's stock worth $1,464,391,000 after purchasing an additional 258,151 shares in the last quarter. Geode Capital Management LLC grew its stake in Seagate Technology by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider's stock worth $1,343,683,000 after purchasing an additional 234,436 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Seagate Technology by 8.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider's stock worth $879,338,000 after purchasing an additional 243,551 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.
Key Seagate Technology News
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: Morgan Stanley raised its price target on Seagate Technology (STX) to $1,035 from $767 and reiterated an Overweight rating, citing improving HDD pricing and expectations that supply shortages could last through at least 2028. Benzinga reference
- Positive Sentiment: Several market reports highlighted Seagate as a beneficiary of stronger AI/data-center storage demand, with tech and memory stocks broadly gaining on optimism around the sector. Yahoo Finance reference
- Positive Sentiment: Seagate also received fresh support from “growth stock” and “AI memory/storage” articles that framed STX as an attractive way to play tightening supply and rising infrastructure spending. Zacks reference
- Neutral Sentiment: Seagate disclosed multiple insider sales on June 12, including CEO William D. Mosley and executives Gianluca Romano, Ban Seng Teh, and John Christopher Morris. The sales were sizable in dollar terms, but several were made under pre-arranged trading plans and do not necessarily signal a change in fundamentals.
- Neutral Sentiment: Seagate redeemed its 3.50% exchangeable senior notes due 2028, removing roughly $150.7 million of debt and improving balance-sheet flexibility. Yahoo Finance reference
Wall Street Analysts Forecast Growth
STX has been the subject of a number of research reports. UBS Group lifted their price target on Seagate Technology from $515.00 to $545.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. lifted their price target on Seagate Technology from $775.00 to $920.00 and gave the stock an "overweight" rating in a research note on Thursday, June 11th. Argus lifted their price target on Seagate Technology from $450.00 to $750.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Susquehanna lifted their price target on Seagate Technology from $485.00 to $615.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Finally, Wedbush lifted their price target on Seagate Technology from $700.00 to $825.00 and gave the stock an "outperform" rating in a research note on Monday, April 27th. 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 MarketBeat, Seagate Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $831.79.
Check Out Our Latest Analysis on Seagate Technology
Seagate Technology Stock Performance
Shares of NASDAQ STX opened at $1,018.80 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The firm's 50-day moving average price is $721.33 and its two-hundred day moving average price is $482.71. Seagate Technology Holdings PLC has a 52-week low of $127.61 and a 52-week high of $1,032.52. The stock has a market capitalization of $228.45 billion, a P/E ratio of 96.66 and a beta of 2.04.
Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $2.96 billion. During the same quarter last year, the company posted $1.90 earnings per share. Seagate Technology's revenue 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, sell-side analysts forecast that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.
Seagate Technology Dividend Announcement
The firm also recently announced 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 of this dividend is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. Seagate Technology's dividend payout ratio (DPR) is currently 28.08%.
Insider Buying and Selling at Seagate Technology
In other news, CFO Gianluca Romano sold 22,488 shares of Seagate Technology stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total transaction of $17,410,659.36. Following the sale, the chief financial officer owned 42,847 shares of the company's stock, valued at approximately $33,173,004.34. The trade was a 34.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 that occurred on 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 sale, the executive vice president directly owned 11,954 shares in the company, valued at approximately $8,826,474.98. This trade represents a 32.00% 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 three months, insiders sold 165,653 shares of company stock worth $117,161,746. Insiders own 0.79% of the company's stock.
About Seagate Technology
(
Free Report)
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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