Zweig DiMenna Associates LLC Sells 57,157 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Zweig DiMenna Associates cut its Seagate Technology stake by 76.2% in the first quarter, selling 57,157 shares and leaving the firm with 17,844 shares valued at about $7.0 million.
• Insider selling has also been notable: Seagate’s EVP and CEO both sold shares under pre-arranged trading plans, and insiders have sold a total of 151,069 shares worth about $126.2 million over the last 90 days.
• Despite recent stock volatility tied to memory-sector weakness, analysts remain broadly constructive, with multiple firms raising price targets and Seagate expected to report fiscal Q4 and full-year 2026 results on July 28.

Zweig DiMenna Associates LLC lessened its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 76.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 17,844 shares of the data storage provider's stock after selling 57,157 shares during the period. Zweig DiMenna Associates LLC's holdings in Seagate Technology were worth $6,991,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlueChip Wealth Advisors LLC bought a new position in shares of Seagate Technology in the 1st quarter worth $224,000. Adell Harriman & Carpenter Inc. increased its stake in Seagate Technology by 3.9% during the 1st quarter. Adell Harriman & Carpenter Inc. now owns 1,687 shares of the data storage provider's stock valued at $661,000 after purchasing an additional 63 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in Seagate Technology by 8.8% during the 1st quarter. Checchi Capital Advisers LLC now owns 3,203 shares of the data storage provider's stock valued at $1,255,000 after purchasing an additional 259 shares in the last quarter. Calamos Wealth Management LLC acquired a new position in Seagate Technology during the first quarter worth $232,000. Finally, Calamos Advisors LLC acquired a new position in Seagate Technology during the first quarter worth $9,094,000. Institutional investors own 92.87% of the company's stock.

Seagate Technology News Roundup

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

• Positive Sentiment: Citigroup raised its price target on Seagate Technology to $1,240 from $1,150 and reiterated a buy rating, signaling continued analyst confidence in the company’s upside. Tickerreport.com
• Positive Sentiment: Zacks highlighted Seagate as one of several memory stocks that look attractive after the recent sell-off, citing AI demand, improving pricing, and lower valuations. Zacks
• Neutral Sentiment: Seagate said it will report fiscal fourth-quarter and full-year 2026 results on July 28, which puts investors in wait-and-see mode ahead of the earnings release. Business Wire
• Neutral Sentiment: Commentary around Seagate’s upcoming earnings focuses on whether AI and cloud demand can offset concerns about inventory levels, cloud capex hesitation, and macro volatility. Yahoo Finance
• Negative Sentiment: Seagate has been caught in a broader memory-stock selloff triggered by weak sentiment around SK Hynix and renewed doubts about AI demand and memory pricing. Yahoo Finance

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP John Christopher Morris sold 5,626 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $738.37, for a total value of $4,154,069.62. Following the sale, the executive vice president directly owned 11,954 shares in the company, valued at $8,826,474.98. The trade was a 32.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the business's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total value of $22,538,700.00. Following the completion of the sale, the chief executive officer owned 339,591 shares in the company, valued at approximately $255,131,322.39. The trade was a 8.12% 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. Insiders have sold a total of 151,069 shares of company stock worth $126,191,753 in the last ninety days. Company insiders own 0.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Seagate Technology from $385.00 to $700.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. China Renaissance upped their target price on shares of Seagate Technology from $802.00 to $983.00 in a report on Friday, June 12th. Barclays raised their price target on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an "overweight" rating in a research report on Wednesday, May 27th. Evercore lifted their price target on Seagate Technology from $750.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Tuesday, May 12th. Finally, Rosenblatt Securities boosted their price objective on Seagate Technology from $500.00 to $1,000.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Seagate Technology has an average rating of "Moderate Buy" and an average price target of $898.52.

Seagate Technology Stock Performance

NASDAQ STX opened at $878.31 on Wednesday. The company has a market capitalization of $196.94 billion, a PE ratio of 83.33 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. Seagate Technology Holdings PLC has a 52-week low of $138.30 and a 52-week high of $1,145.00. The company has a 50-day simple moving average of $886.49 and a 200 day simple moving average of $581.00.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating 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 firm had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $2.96 billion. During the same period in the previous year, the company earned $1.90 earnings per share. The company's quarterly 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. On average, research analysts predict that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Dividend Announcement

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

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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