SEB Asset Management AB Invests $22.75 Million in Seagate Technology Holdings PLC $STX

Key Points

• SEB Asset Management AB opened a new position in Seagate Technology during the first quarter, buying 58,082 shares valued at about $22.75 million.
• Seagate is drawing bullish attention from analysts as a potential beneficiary of AI infrastructure spending, with multiple reports citing improving margins, earnings growth potential, and strong storage demand.
• Despite the positive outlook, the stock has faced some pressure from broader tech weakness, while insiders have also been selling shares; even so, analysts remain broadly constructive with a Moderate Buy consensus and higher price targets.

SEB Asset Management AB acquired a new position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 58,082 shares of the data storage provider's stock, valued at approximately $22,754,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in STX. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider's stock valued at $31,000 after acquiring an additional 15 shares during the period. Salomon & Ludwin LLC raised its holdings 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 during the period. Catalyst Capital Advisors LLC purchased a new position in Seagate Technology during the first quarter valued at $39,000. Armstrong Advisory Group Inc. bought a new stake in Seagate Technology during the fourth quarter valued at about $28,000. Finally, Concord Wealth Partners bought a new stake in Seagate Technology during the fourth quarter valued at about $28,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology News Roundup

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

• Positive Sentiment: Analysts and market commentators highlighted Seagate as one of the memory/storage names best positioned to benefit from global AI infrastructure spending, citing rising demand for advanced storage and improving revenue and margin trends. 4 Top-Ranked Memory Stocks to Buy as AI Infrastructure Expands Globally
• Positive Sentiment: Additional bullish coverage said Seagate could be a smaller AI stock with room to run, pointing to strong execution, expanding margins, and earnings growth potential that may continue to attract investors. Everyone's Buying NVIDIA, but 2 Smaller AI Stocks Could Soar Higher
• Positive Sentiment: Seagate also received a favorable mention in an analyst blog round-up and in commentary describing the stock as benefiting from a strong cost advantage and AI-related storage demand. The Zacks Analyst Blog Highlights NVIDIA, AMD, Taiwan Semiconductor Manufacturing and Seagate
• Neutral Sentiment: Market-watch coverage noted Seagate underperformed some peers in recent trading sessions, suggesting investor enthusiasm has not been uniform across the storage group. Seagate Technology Holdings PLC stock underperforms Thursday when compared to competitors
• Neutral Sentiment: Broader tech and chip-stock weakness, including pressure on the semiconductor index, is still weighing on the sector and can limit gains for Seagate despite its company-specific positives. The SOX Index Fell 16% in Less Than a Month
• Negative Sentiment: Tech stocks were under pressure overall, which may have contributed to weakness in Seagate shares even as the company’s long-term fundamentals remain tied to AI-driven storage demand. Sector Update: Tech Stocks Fall Thursday Afternoon

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 9,343 shares of the company's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $924.42, for a total transaction of $8,636,856.06. Following the completion of the transaction, the chief executive officer owned 311,517 shares in the company, valued at approximately $287,972,545.14. This represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 1,364 shares of the firm's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $1,200,579.16. Following the transaction, the executive vice president directly owned 12,088 shares of the company's stock, valued at $10,639,736.72. The trade was a 10.14% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 151,069 shares of company stock valued at $126,191,753. Corporate insiders own 0.79% of the company's stock.

Analysts Set New Price Targets

STX has been the topic of several recent research reports. China Renaissance raised their price objective on Seagate Technology from $802.00 to $983.00 in a research note on Friday, June 12th. Weiss Ratings reiterated a "buy (b)" rating on shares of Seagate Technology in a research note on Wednesday, June 24th. TD Cowen increased their target price on shares of Seagate Technology from $500.00 to $850.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Mizuho increased their target price on shares of Seagate Technology from $875.00 to $1,090.00 and gave the stock an "outperform" rating in a report on Monday, June 8th. Finally, Citigroup lifted their price target on shares of Seagate Technology from $1,150.00 to $1,240.00 and gave the company a "buy" rating in a report on Monday, July 13th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Seagate Technology presently has an average rating of "Moderate Buy" and an average price target of $898.52.

Seagate Technology Price Performance

NASDAQ:STX opened at $787.66 on Monday. The business's 50-day simple moving average is $887.01 and its two-hundred day simple moving average is $591.62. Seagate Technology Holdings PLC has a 52 week low of $138.30 and a 52 week high of $1,145.00. The stock has a market cap of $176.62 billion, a PE ratio of 74.73 and a beta of 2.04. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping analysts' consensus estimates of $3.51 by $0.59. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The business's quarterly revenue was up 44.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.90 earnings per share. 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 14.14 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th were issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, June 24th. Seagate Technology's dividend payout ratio (DPR) is 28.08%.

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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