Y Intercept Hong Kong Ltd Makes New Investment in Seagate Technology Holdings PLC $STX

Key Points

• Y Intercept Hong Kong Ltd opened a new position in Seagate Technology, buying 10,832 shares worth about $4.24 million in the first quarter.
• Seagate reported strong quarterly results, with EPS of $4.10 beating estimates and revenue of $3.11 billion topping expectations; it also raised Q4 2026 guidance and announced a quarterly dividend of $0.74 per share.
• Wall Street sentiment remains upbeat, with several analysts lifting price targets and the stock now carrying a Moderate Buy consensus rating, while insiders have also been selling shares under pre-arranged trading plans.

Y Intercept Hong Kong Ltd purchased a new stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,832 shares of the data storage provider's stock, valued at approximately $4,244,000.

Several other institutional investors and hedge funds also recently made changes to their positions in STX. Arrowstreet Capital Limited Partnership boosted its holdings in Seagate Technology by 1,072.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider's stock valued at $696,262,000 after acquiring an additional 2,697,957 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Seagate Technology by 1,510.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider's stock worth $553,125,000 after purchasing an additional 1,883,769 shares during the period. Norges Bank acquired a new position in shares of Seagate Technology in the 4th quarter worth approximately $498,363,000. Soroban Capital Partners LP boosted its stake in shares of Seagate Technology by 1,468.1% in the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider's stock valued at $204,602,000 after purchasing an additional 1,327,197 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of Seagate Technology by 102.0% during the fourth quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider's stock worth $440,614,000 after buying an additional 807,962 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Stock Performance

STX opened at $820.16 on Monday. The company has a fifty day moving average price of $853.32 and a two-hundred day moving average price of $552.19. Seagate Technology Holdings PLC has a 1-year low of $138.30 and a 1-year high of $1,145.00. The company has a market cap of $183.90 billion, a P/E ratio of 77.81 and a beta of 2.04. The company has a current ratio of 1.33, a quick ratio of 0.85 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 (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 company had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $2.96 billion. During the same quarter in the prior year, the firm earned $1.90 EPS. The business'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. Analysts predict that Seagate Technology Holdings PLC will post 14.14 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 paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology's dividend payout ratio (DPR) is 28.08%.

Seagate Technology News Summary

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

• Positive Sentiment: Zacks upgraded Seagate to Strong Buy, citing improving earnings expectations and bullish momentum around the company’s outlook. Seagate (STX) Upgraded to Strong Buy: Here's What You Should Know
• Positive Sentiment: Another Zacks note argued Seagate remains an attractive growth stock, pointing to strong business fundamentals and potential for continued upside. Seagate (STX) is an Incredible Growth Stock: 3 Reasons Why
• Positive Sentiment: Analysts also highlighted Seagate’s surging data center business, helped by cloud demand, Mozaic adoption, and long-term supply agreements that could support revenue growth through fiscal 2027. Can Seagate's Data Center Business Maintain its Growth Momentum?

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Sanford C. Bernstein boosted their target price on shares of Seagate Technology from $620.00 to $1,000.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Loop Capital lifted their price objective on Seagate Technology from $950.00 to $1,140.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Susquehanna boosted their price objective on Seagate Technology from $485.00 to $615.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. 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 report on Thursday, June 11th. Finally, Wedbush lifted their target price on Seagate Technology from $700.00 to $825.00 and gave the stock an "outperform" rating in a report on Monday, April 27th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, Seagate Technology has a consensus rating of "Moderate Buy" and an average target price of $880.52.

Insider Transactions at Seagate Technology

In other news, EVP John Christopher Morris sold 1,364 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president owned 12,088 shares in the company, valued at $10,639,736.72. The trade was a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 9,343 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $924.42, for a total value of $8,636,856.06. Following the transaction, the chief executive officer directly owned 311,517 shares in the company, valued at $287,972,545.14. The trade was a 2.91% 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. Over the last ninety days, insiders sold 151,069 shares of company stock worth $126,191,753. 0.79% of the stock is currently owned by insiders.

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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