7,955 Shares in Seagate Technology Holdings PLC $STX Purchased by Independent Financial Group LLC

Independent Financial Group LLC acquired a new stake in Seagate Technology Holdings PLC (NASDAQ:STX) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 7,955 shares of the data storage provider’s stock, valued at approximately $3,116,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its holdings in shares of Seagate Technology by 1,510.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock valued at $553,125,000 after purchasing an additional 1,883,769 shares in the last quarter. Norges Bank acquired a new stake in shares of Seagate Technology in the fourth quarter valued at approximately $498,363,000. Soroban Capital Partners LP increased its stake in shares of Seagate Technology by 1,468.1% during the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after purchasing an additional 1,327,197 shares in the last quarter. Deutsche Bank AG raised its position in shares of Seagate Technology by 102.0% during the 4th quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider’s stock worth $440,614,000 after purchasing an additional 807,962 shares during the last quarter. Finally, National Pension Service raised its position in shares of Seagate Technology by 298.7% during the 4th quarter. National Pension Service now owns 997,223 shares of the data storage provider’s stock worth $274,625,000 after purchasing an additional 747,102 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Seagate Technology news, EVP Ban Seng Teh sold 8,003 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $817.28, for a total value of $6,540,691.84. Following the sale, the executive vice president directly owned 3,691 shares of the company’s stock, valued at approximately $3,016,580.48. This trade represents a 68.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of Seagate Technology stock in a transaction dated 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 of the company’s stock, valued at $255,131,322.39. This trade represents a 8.12% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 151,069 shares of company stock valued at $126,191,753. 0.79% of the stock is owned by corporate insiders.

Seagate Technology Stock Up 5.7%

Shares of NASDAQ STX opened at $787.66 on Friday. The firm has a market cap of $176.62 billion, a P/E ratio of 74.73 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 1 year low of $138.30 and a 1 year high of $1,145.00. The firm’s 50 day moving average price is $887.01 and its 200 day moving average price is $589.45.

Seagate Technology (NASDAQ:STX) last issued 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. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the previous year, the firm posted $1.90 EPS. Seagate Technology’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. As a group, sell-side analysts anticipate that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, June 24th. Seagate Technology’s dividend payout ratio is presently 28.08%.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Analysts and market commentators highlighted Seagate as one of the memory/storage names best positioned to benefit from global AI infrastructure spending, citing rising demand for advanced storage and improving revenue and margin trends. 4 Top-Ranked Memory Stocks to Buy as AI Infrastructure Expands Globally
• Positive Sentiment: Additional bullish coverage said Seagate could be a smaller AI stock with room to run, pointing to strong execution, expanding margins, and earnings growth potential that may continue to attract investors. Everyone’s Buying NVIDIA, but 2 Smaller AI Stocks Could Soar Higher
• Positive Sentiment: Seagate also received a favorable mention in an analyst blog round-up and in commentary describing the stock as benefiting from a strong cost advantage and AI-related storage demand. The Zacks Analyst Blog Highlights NVIDIA, AMD, Taiwan Semiconductor Manufacturing and Seagate
• Neutral Sentiment: Market-watch coverage noted Seagate underperformed some peers in recent trading sessions, suggesting investor enthusiasm has not been uniform across the storage group. Seagate Technology Holdings PLC stock underperforms Thursday when compared to competitors
• Neutral Sentiment: Broader tech and chip-stock weakness, including pressure on the semiconductor index, is still weighing on the sector and can limit gains for Seagate despite its company-specific positives. The SOX Index Fell 16% in Less Than a Month
• Negative Sentiment: Tech stocks were under pressure overall, which may have contributed to weakness in Seagate shares even as the company’s long-term fundamentals remain tied to AI-driven storage demand. Sector Update: Tech Stocks Fall Thursday Afternoon

Wall Street Analyst Weigh In

A number of brokerages have commented on STX. Barclays increased their target price on Seagate Technology from $750.00 to $1,000.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Zacks Research cut Seagate Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Sanford C. Bernstein upped their price objective on Seagate Technology from $620.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Melius Research started coverage on Seagate Technology in a research note on Monday, June 29th. They set a “buy” rating and a $1,600.00 price objective on the stock. Finally, TD Cowen lifted their price objective on Seagate Technology from $500.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average price target of $898.52.

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.