OLD National Bancorp IN Trims Stake in Seagate Technology Holdings PLC $STX

OLD National Bancorp IN reduced its position in Seagate Technology Holdings PLC (NASDAQ:STX) by 27.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,347 shares of the data storage provider’s stock after selling 898 shares during the quarter. OLD National Bancorp IN’s holdings in Seagate Technology were worth $646,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STX. Rakuten Securities Inc. raised its position in Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 168 shares during the period. Salomon & Ludwin LLC grew its stake in Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 51 shares in the last quarter. Armstrong Advisory Group Inc. bought a new position in Seagate Technology in the 4th quarter worth about $28,000. Avion Wealth grew its stake in Seagate Technology by 343.5% in 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 in the last quarter. Finally, First Horizon Corp bought a new position in Seagate Technology in the 3rd quarter worth about $33,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Barclays upgraded STX to a Buy, citing additional upside in an AI‑driven rally and suggesting there’s “another leg” to the move — a key driver of today’s bullish sentiment. Seagate Stock Upgraded To Buy
• Positive Sentiment: Loop Capital raised its price target on Seagate from $700 to $800 and maintained a Buy rating — a material upward revision that supports higher analyst-driven demand. Loop Capital Adjusts Price Target
• Positive Sentiment: Additional broker upgrades and positive notes (UBS/other outlets) are reinforcing the buy-side view that Seagate can capture share of growing data-storage demand tied to AI, gaming and creator workflows. Seagate Raised to Overweight at Barclays / UBS coverage
• Positive Sentiment: Seagate unveiled new high‑capacity consumer and prosumer storage products targeted at AI, gaming and creators — positioning the company to monetize rising data-demand and potentially lift revenue growth. Product details and positioning covered across BusinessWire, Forbes, Zacks and Yahoo. Seagate Introduces Storage Built for Consumer Data Explosion
• Neutral Sentiment: New single‑stock leveraged ETFs (Defiance’s 2x STXL and Tradr’s 200% ETFs) on STX were launched this week — these products increase speculative flows and intraday liquidity/volatility but don’t change Seagate’s fundamentals. Traders should expect larger short-term swings. Defiance Launches STXL
• Neutral Sentiment: Broader tech/mega-cap momentum (Apple and other Magnificent Seven names in earnings focus) is supporting sector sentiment; this macro tailwind can lift STX but is not a company‑specific catalyst. Apple Stock, Back In Growth Mode

Seagate Technology Stock Performance

Shares of STX stock opened at $586.25 on Friday. The firm has a market cap of $127.84 billion, a price-to-earnings ratio of 66.32, a PEG ratio of 0.98 and a beta of 1.61. The company’s 50 day moving average is $437.89 and its 200 day moving average is $344.91. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63. Seagate Technology Holdings PLC has a 52-week low of $80.56 and a 52-week high of $607.89.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.34. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. Seagate Technology’s revenue was up 21.5% compared to the same quarter last year. During the same period last year, the company posted $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, sell-side analysts anticipate that Seagate Technology Holdings PLC will post 12.13 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th were issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, March 25th. Seagate Technology’s dividend payout ratio (DPR) is presently 33.48%.

Insider Activity at Seagate Technology

In related news, Director Jay L. Geldmacher sold 925 shares of Seagate Technology stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $448.02, for a total transaction of $414,418.50. Following the transaction, the director directly owned 223 shares of the company’s stock, valued at $99,908.46. This trade represents a 80.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP James Ci Lee sold 673 shares of Seagate Technology stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $348.85, for a total transaction of $234,776.05. Following the transaction, the executive vice president directly owned 257 shares in the company, valued at approximately $89,654.45. The trade was a 72.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 112,223 shares of company stock valued at $46,711,217 over the last quarter. 0.79% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on STX. UBS Group upped their target price on shares of Seagate Technology from $440.00 to $515.00 and gave the stock a “neutral” rating in a research note on Tuesday. Wedbush upped their target price on shares of Seagate Technology from $290.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Barclays upgraded shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $425.00 to $625.00 in a research note on Wednesday. BNP Paribas Exane upped their target price on shares of Seagate Technology from $430.00 to $530.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Finally, Sanford C. Bernstein upped their target price on shares of Seagate Technology from $500.00 to $620.00 and gave the stock an “outperform” rating in a research note on Thursday, April 9th. Twenty 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $518.29.

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.