Icon Advisers Inc. Co. Has $11.35 Million Holdings in Seagate Technology Holdings PLC $STX

Icon Advisers Inc. Co. lowered its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 33.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,963 shares of the data storage provider’s stock after selling 14,881 shares during the period. Seagate Technology accounts for 2.6% of Icon Advisers Inc. Co.’s holdings, making the stock its 3rd largest holding. Icon Advisers Inc. Co.’s holdings in Seagate Technology were worth $11,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Salomon & Ludwin LLC increased its holdings in shares of Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after buying an additional 51 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in shares of Seagate Technology by 884.2% during the 2nd 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 in the last quarter. Avion Wealth grew its position in Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 79 shares during the last quarter. Concord Wealth Partners bought a new stake in Seagate Technology during the 4th quarter worth $28,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its holdings in Seagate Technology by 23.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 15 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on STX shares. Melius Research started coverage on Seagate Technology in a research report on Monday, June 29th. They issued a “buy” rating and a $1,600.00 target price for the company. The Goldman Sachs Group boosted their price target on Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Morgan Stanley upped their price objective on Seagate Technology from $767.00 to $1,035.00 and gave the company an “overweight” rating in a research note on Monday, June 15th. Cantor Fitzgerald lifted their target price on shares of Seagate Technology from $1,000.00 to $1,300.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Finally, Evercore upped their price target on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $898.52.

Seagate Technology Price Performance

Shares of STX opened at $908.10 on Thursday. The business has a 50-day moving average of $889.85 and a 200-day moving average of $604.10. 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 company has a market capitalization of $203.62 billion, a price-to-earnings ratio of 86.16 and a beta of 2.04. Seagate Technology Holdings PLC has a 1 year low of $138.30 and a 1 year high of $1,145.00.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating the consensus estimate of $3.51 by $0.59. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm’s revenue was up 44.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities research analysts anticipate that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.

Seagate Technology Announces Dividend

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

More Seagate Technology News

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

• Positive Sentiment: Seagate is being viewed as undervalued on the back of fresh AI demand news, with one report suggesting the stock could be 34% below fair value as investors reassess its role in the AI infrastructure buildout.
• Positive Sentiment: Analyst coverage is turning supportive, with Zacks noting that Seagate has the ingredients for a possible earnings beat and including it among favored technology names ahead of results.
• Positive Sentiment: A comparison of SanDisk and Seagate’s revenue trends kept attention on memory and storage stocks, reinforcing the idea that AI-driven demand for NAND, SSDs, and related storage products could support Seagate’s growth story.
• Neutral Sentiment: Broader market commentary also pointed to chip stocks leading a rebound and volatility in the AI trade, which may be helping sentiment across the group without adding company-specific news.

Insider Activity

In related news, CFO Gianluca Romano sold 903 shares of Seagate Technology stock in a transaction 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 completion of the transaction, the chief financial officer owned 42,860 shares of the company’s stock, valued at $37,724,943.40. This trade represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ban Seng Teh sold 989 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $870,507.91. Following the completion of the transaction, the executive vice president owned 4,290 shares in the company, valued at approximately $3,776,015.10. The trade was a 18.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 151,069 shares of company stock valued at $126,191,753. Company insiders own 0.79% of the company’s stock.

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.