Resona Asset Management Co. Ltd. Decreases Stake in Seagate Technology Holdings PLC $STX

Resona Asset Management Co. Ltd. lowered its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 6.9% in the fourth quarter, Holdings Channel reports. The firm owned 53,756 shares of the data storage provider’s stock after selling 3,988 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Seagate Technology were worth $14,804,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of STX. Integrated Wealth Concepts LLC grew its holdings in shares of Seagate Technology by 168.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock worth $610,000 after purchasing an additional 4,499 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Seagate Technology during the 2nd quarter worth about $262,000. Cerity Partners LLC grew its holdings in shares of Seagate Technology by 25.8% during the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock worth $5,294,000 after purchasing an additional 7,517 shares during the period. Sei Investments Co. grew its holdings in shares of Seagate Technology by 64.8% during the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock worth $1,233,000 after purchasing an additional 3,358 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Seagate Technology by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider’s stock worth $18,458,000 after purchasing an additional 462 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Up 2.4%

NASDAQ STX opened at $751.07 on Thursday. The stock has a market cap of $168.41 billion, a PE ratio of 71.26 and a beta of 1.98. Seagate Technology Holdings PLC has a fifty-two week low of $103.73 and a fifty-two week high of $841.31. The business has a 50 day moving average price of $548.86 and a two-hundred day moving average price of $404.73. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results 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. The firm had revenue of $3.11 billion during 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%.Seagate Technology’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, sell-side analysts predict that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

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

More Seagate Technology News

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

• Negative Sentiment: Seagate shares came under pressure after the CEO warned about capacity constraints, sparking worries that demand could outstrip supply and temper near-term momentum. Seagate Leads Memory Stocks Lower Following Capacity Warning
• Negative Sentiment: Broader memory stocks, including Seagate, sold off as investors reacted to the executive warnings and took profits after a strong AI-driven rally. Memory Stocks Tumble After Seagate CEO Raises Eyebrows
• Neutral Sentiment: Some analysts remain constructive, arguing Seagate still has solid growth attributes and could benefit from AI-related storage demand over time. Here is Why Growth Investors Should Buy Seagate (STX) Now
• Neutral Sentiment: Stanley Druckenmiller’s Duquesne Family Office reportedly added Seagate among its AI memory “picks-and-shovels” holdings, which may support the longer-term bullish case for the stock. Billionaire Stanley Druckenmiller Dumped Every Share of Alphabet. He Bought AI Memory Stocks Up 581% to 3,467% Instead
• Neutral Sentiment: Recent commentary framing the pullback as a potential buying opportunity suggests some investors view the selloff as overdone rather than a change in the long-term story. Seagate: The Golden Buying Opportunity Born From Panic

Analyst Ratings Changes

A number of brokerages have recently issued reports on STX. Evercore boosted their target price on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Cantor Fitzgerald boosted their target price on Seagate Technology from $700.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Mizuho boosted their target price on Seagate Technology from $565.00 to $700.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Barclays boosted their target price on Seagate Technology from $625.00 to $750.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Finally, BNP Paribas Exane upped their price target on Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $733.71.

Insider Activity at Seagate Technology

In related news, EVP Kian Fatt Chong sold 5,846 shares of Seagate Technology stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $416.48, for a total value of $2,434,742.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Christopher Morris sold 5,626 shares of Seagate Technology stock in a transaction on Monday, May 4th. The stock was sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the completion of the sale, the executive vice president owned 11,954 shares of the company’s stock, valued at approximately $8,826,474.98. This trade represents a 32.00% 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 118,283 shares of company stock worth $65,989,618. 0.79% of the stock is currently owned by insiders.

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.