TD Private Client Wealth LLC Grows Position in Seagate Technology Holdings PLC $STX

Key Points

• TD Private Client Wealth LLC boosted its Seagate Technology stake by 676.7% in the fourth quarter, ending with 5,367 shares valued at about $1.48 million.
• Several analysts turned more bullish on Seagate, with price targets raised across firms such as Bank of America, Goldman Sachs, Barclays, and Mizuho; the consensus rating remains Moderate Buy with an average target of $733.71.
• Seagate reported strong quarterly results, beating earnings and revenue estimates, while also issuing a quarterly dividend and reaffirming guidance; however, management comments about limited capacity expansion have raised concerns it may miss some AI demand upside.

TD Private Client Wealth LLC increased its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 676.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,367 shares of the data storage provider's stock after buying an additional 4,676 shares during the quarter. TD Private Client Wealth LLC's holdings in Seagate Technology were worth $1,478,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC boosted its position in Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock valued at $27,000 after buying an additional 51 shares during the period. Rakuten Securities Inc. increased its position in shares of Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock valued at $27,000 after acquiring an additional 168 shares during the period. Armstrong Advisory Group Inc. bought a new position in shares of Seagate Technology during the fourth quarter valued at about $28,000. Avion Wealth boosted its holdings in shares of Seagate Technology by 343.5% during the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider's stock worth $28,000 after purchasing an additional 79 shares during the period. Finally, Concord Wealth Partners purchased a new stake in shares of Seagate Technology during the fourth quarter worth about $28,000. 92.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Seagate Technology

In other news, EVP John Christopher Morris sold 5,626 shares of the business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the sale, the executive vice president owned 11,954 shares in the company, valued at approximately $8,826,474.98. The trade was a 32.00% decrease in their position. The sale 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, CFO Gianluca Romano sold 22,488 shares of the company's stock in a transaction dated 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 completion of the sale, the chief financial officer directly owned 42,847 shares in the company, valued at $33,173,004.34. This represents a 34.42% 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. In the last three months, insiders have sold 118,283 shares of company stock valued at $65,989,618. Company insiders own 0.79% of the company's stock.

Key Seagate Technology News

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

• Positive Sentiment: Analysts and bullish commentary point to durable AI-related storage demand and Seagate’s HAMR-driven product cycle as potential supports for longer-term revenue and margin growth.
• Neutral Sentiment: Several articles focus on Seagate’s presentation and broader analyst reactions, including price-target updates, but do not add a major new catalyst by themselves.
• Negative Sentiment: CEO comments that it would take too long to build new factories, and that Seagate may not expand capacity aggressively, have raised concern that the company could miss some of the AI demand upside. Article Title
• Negative Sentiment: The capacity warning has also triggered a broader selloff in memory and storage stocks, adding sector pressure to STX. Article Title

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Bank of America boosted their price target on Seagate Technology from $700.00 to $840.00 and gave the company a "buy" rating in a report on Monday, April 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of Seagate Technology in a report on Friday, March 27th. The Goldman Sachs Group lifted their price objective on Seagate Technology from $385.00 to $700.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Barclays boosted their target price on Seagate Technology from $625.00 to $750.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. Finally, Mizuho upped their target price on Seagate Technology from $565.00 to $700.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued 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.

Seagate Technology Stock Performance

Shares of STX opened at $733.35 on Wednesday. The company has a 50-day simple moving average of $541.33 and a two-hundred day simple moving average of $401.33. 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 $164.44 billion, a PE ratio of 69.58 and a beta of 1.98. Seagate Technology Holdings PLC has a one year low of $103.73 and a one year high of $841.31.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results 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 for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 44.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, analysts anticipate that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.4%. Seagate Technology's dividend payout ratio 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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