USS Investment Management Ltd Buys 1,675 Shares of Seagate Technology Holdings PLC $STX

Key Points

• USS Investment Management Ltd increased its Seagate Technology stake by 4.1% in the first quarter, buying 1,675 additional shares and bringing its total holdings to 42,928 shares valued at about $16.8 million.
• Several other institutional investors also added to positions, and institutional ownership stands at 92.87%, showing heavy professional ownership of the stock.
• Analyst sentiment remains mostly positive: multiple firms raised price targets, including Cantor Fitzgerald to $1,300, while Seagate’s latest quarter beat earnings and revenue estimates and the company continues to benefit from AI-driven storage demand.

USS Investment Management Ltd boosted its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 4.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,928 shares of the data storage provider's stock after buying an additional 1,675 shares during the quarter. USS Investment Management Ltd's holdings in Seagate Technology were worth $16,810,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Cornerstone Wealth Group LLC lifted its holdings in shares of Seagate Technology by 0.5% in the 1st quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider's stock worth $1,388,000 after acquiring an additional 19 shares during the last quarter. Gateway Investment Advisers LLC raised its position in Seagate Technology by 1.8% in the 4th quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider's stock worth $385,000 after purchasing an additional 25 shares during the period. Trajan Wealth LLC raised its position in Seagate Technology by 1.9% in the 4th quarter. Trajan Wealth LLC now owns 1,325 shares of the data storage provider's stock worth $365,000 after purchasing an additional 25 shares during the period. Fortis Capital Management LLC lifted its stake in Seagate Technology by 1.1% in the fourth quarter. Fortis Capital Management LLC now owns 2,557 shares of the data storage provider's stock worth $704,000 after purchasing an additional 27 shares during the last quarter. Finally, EWA LLC lifted its stake in Seagate Technology by 2.1% in the fourth quarter. EWA LLC now owns 1,370 shares of the data storage provider's stock worth $377,000 after purchasing an additional 28 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

Insider Transactions at Seagate Technology

In other news, CFO Gianluca Romano sold 903 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $794,811.57. Following the transaction, the chief financial officer directly owned 42,860 shares in the company, valued at approximately $37,724,943.40. This trade represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Shankar Arumugavelu sold 1,000 shares of Seagate Technology stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $927.68, for a total transaction of $927,680.00. Following the transaction, the director directly owned 6,626 shares in the company, valued at approximately $6,146,807.68. The trade was a 13.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 121,069 shares of company stock worth $98,747,112. 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: Bank of America raised its price target on Seagate to $1,150 from $1,000 and reiterated a Buy rating, signaling confidence in further upside tied to AI storage demand and strong data-center fundamentals. Benzinga
• Positive Sentiment: Recent articles highlight Seagate as a strong momentum and long-term growth name, with investors still focused on its AI-driven storage tailwind, HAMR wins, and serial earnings beats. Zacks
• Positive Sentiment: Broader industry coverage remains favorable for storage suppliers as AI infrastructure spending and rising data-center demand keep pricing power and revenue growth in focus. 24/7 Wall St.
• Neutral Sentiment: Seagate was also mentioned in a comparison piece versus Micron, with the debate centered on which AI storage play has more upside rather than any company-specific negative development. Zacks
• Neutral Sentiment: Despite the bullish backdrop, Zacks Research downgraded Seagate from Strong Buy to Hold, suggesting valuation may be stretching after the stock’s huge run. Zacks
• Neutral Sentiment: Seeking Alpha and other commentary noted that while the AI demand story remains intact, some of the stock’s future gains may already be reflected after its sharp year-to-date rally. Seeking Alpha

Analyst Ratings Changes

STX has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on Seagate Technology from $775.00 to $920.00 and gave the company an "overweight" rating in a research note on Thursday, June 11th. Sanford C. Bernstein raised their price target on Seagate Technology from $620.00 to $1,000.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. China Renaissance boosted their price objective on Seagate Technology from $802.00 to $983.00 in a report on Friday, June 12th. Wedbush upped their price objective on Seagate Technology from $700.00 to $825.00 and gave the company an "outperform" rating in a research report on Monday, April 27th. Finally, Cantor Fitzgerald increased their target price on Seagate Technology from $1,000.00 to $1,300.00 and gave the stock an "overweight" rating in a research note on Monday. Twenty-one analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $880.52.

Seagate Technology Price Performance

STX opened at $915.19 on Thursday. Seagate Technology Holdings PLC has a 12-month low of $138.30 and a 12-month high of $1,145.00. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The business's fifty day simple moving average is $843.31 and its 200-day simple moving average is $544.68. The company has a market capitalization of $205.21 billion, a price-to-earnings ratio of 86.83 and a beta of 2.04.

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. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The company had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same period in the prior year, the firm earned $1.90 earnings per share. The firm's revenue for the quarter was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities research analysts anticipate that Seagate Technology Holdings PLC will post 14.14 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. Stockholders of record on Wednesday, June 24th will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology's dividend payout ratio is presently 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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