Sei Investments Co. Cuts Stake in Seagate Technology Holdings PLC $STX

Key Points

• Sei Investments Co. reduced its Seagate Technology stake by 17.5% in the first quarter, selling 52,480 shares and leaving it with 247,152 shares valued at about $96.8 million.
• Seagate reported a strong recent quarter, with EPS of $4.10 beating estimates and revenue of $3.11 billion topping expectations; revenue also rose 44.1% year over year.
• Wall Street remains mostly constructive on the stock, with 22 Buy ratings versus 5 Holds and a consensus Moderate Buy rating, while analysts’ average price target sits at $898.52.

Sei Investments Co. lessened its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 17.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 247,152 shares of the data storage provider's stock after selling 52,480 shares during the period. Sei Investments Co. owned 0.11% of Seagate Technology worth $96,824,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of STX. PFA Pension Forsikringsaktieselskab acquired a new position in Seagate Technology during the fourth quarter worth about $23,882,000. New York State Teachers Retirement System grew its stake in Seagate Technology by 5.0% during the 4th quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider's stock valued at $51,510,000 after acquiring an additional 8,991 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Seagate Technology by 1.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider's stock valued at $142,874,000 after acquiring an additional 6,028 shares in the last quarter. Praxis Investment Management Inc. raised its holdings in Seagate Technology by 56.5% in the 4th quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider's stock valued at $1,822,000 after acquiring an additional 2,389 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its stake in Seagate Technology by 64.5% in the 4th quarter. Ritholtz Wealth Management now owns 21,321 shares of the data storage provider's stock worth $5,872,000 after purchasing an additional 8,358 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Performance

NASDAQ:STX opened at $851.69 on Friday. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The firm has a market capitalization of $190.97 billion, a price-to-earnings ratio of 80.81 and a beta of 2.04. The company's 50-day moving average is $893.15 and its two-hundred day moving average is $610.20. Seagate Technology Holdings PLC has a 1-year low of $138.30 and a 1-year high of $1,145.00.

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. The business had revenue of $3.11 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Analysts forecast that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date was Wednesday, June 24th. Seagate Technology's dividend payout ratio is presently 28.08%.

Wall Street Analyst Weigh In

STX has been the topic of several recent research reports. Fox Advisors cut Seagate Technology from an "overweight" rating to an "equal weight" rating in a report on Monday, June 22nd. Bank of America increased their price target on Seagate Technology from $1,000.00 to $1,150.00 and gave the company a "buy" rating in a report on Wednesday, July 1st. Wall Street Zen upgraded Seagate Technology from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. China Renaissance boosted their price objective on Seagate Technology from $802.00 to $983.00 in a research note on Friday, June 12th. Finally, Mizuho upped their target price on Seagate Technology from $875.00 to $1,090.00 and gave the company an "outperform" rating in a report on Monday, June 8th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $898.52.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Several previews say Seagate remains well positioned to beat fiscal Q4 expectations, citing AI-driven storage demand, rising HAMR adoption, and improving margins that could support another strong earnings report. Article title: STX Likely to Beat Q4 Earnings: Is it a Portfolio Must-Have Now?
• Positive Sentiment: Another earnings preview argues Seagate’s AI tailwinds are intact, with higher-density storage demand and operating leverage supporting profitability, though valuation has become less compelling. Article title: Seagate Earnings Preview: AI Tailwinds Remain, But Fading Sentiment Caps The Premium
• Positive Sentiment: Commentary from the last two days says Seagate could rebound after being off from recent highs if earnings confirm strong demand for high-capacity storage. Article title: Seagate Stock Is Off 20% From Its High. Why July 28 Earnings Could Trigger a Rebound.
• Neutral Sentiment: Short-interest data showed no meaningful change in borrowed shares, so it does not appear to be a major driver of trading today.
• Neutral Sentiment: One market note highlighted rising losses across mega-cap AI names like Tesla, Alphabet, Meta, Amazon, and Microsoft, reinforcing the broader risk-off tone in AI-related stocks. Article title: Why Tesla, Google, and other Mag 7 stocks are losing billions in valuation
• Negative Sentiment: A trading-focused report says Seagate is falling on broad semiconductor weakness and concerns that AI spending may be shifting, which is likely weighing on the shares despite upbeat earnings expectations. Article title: Why Is Seagate Stock Falling on Friday?

Insiders Place Their Bets

In other news, EVP John Christopher Morris sold 1,364 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $1,200,579.16. Following the completion of the transaction, the executive vice president directly owned 12,088 shares in the company, valued at approximately $10,639,736.72. This represents a 10.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 989 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $870,507.91. Following the transaction, the executive vice president owned 4,290 shares of the company's stock, valued at approximately $3,776,015.10. This represents a 18.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 151,069 shares of company stock worth $126,191,753 in the last three months. 0.79% of the stock is owned by insiders.

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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